It Pays to Buy in the Country

According to a recent report, the Geraldton real estate market is outperforming the Perth market right now. In fact, regional real estate is outperforming Perth real estate in most instances. This comes as no surprise because we did our research when we decided to make a considerable investment by developing Geraldton Heights Estate. There are a lot of reasons to invest in Geraldton right now.

Buying House and Land Package in Geraldton

By the Numbers

Better Growth

In May, the market for units, both in Perth and in regional WA, was down slightly. The drop in Perth was 1.21% while the drop in regional WA was 1.02%. However, regional WA saw house prices rise 2.38% for the best performance in all of Australia. In WA, SA, Northern Territory, Tasmania, NSW and Victoria, the regions did better than the capital cities.

Lower Prices

We compared Geraldton to one of our favourite Perth suburbs, Pearsall. We have two land estates in Pearsall that have been quite successful. Pearsall’s average price is below the Perth market average of $565,000 with a median house price of $500,000. Meanwhile, in Geraldton, the median house price is $360,000.

What the Numbers Mean to You

If you want a sea change or want to purchase investment property, we think Geraldton in particular and regional WA in general are great investments in your future. While the market is performing great, the prices are much lower than those in Perth. Prices in Geraldton allow those who can’t purchase a home in the Perth market to purchase one in Geraldton.

Prices won’t stay low forever, as indicated by regions outperforming capital cities. That produces the best of both worlds: it costs less to buy in Geraldton but you will receive a greater return on your investment. Let’s look at how this affects two segments of society: young families and property investors.

Young Families

One of the problems in the Perth housing market, even in our planned estates that come in well below average market value, is that younger families and first home buyers can be priced out of the market. Our estates in the Perth area have helped a lot of first home buyers and young families obtain quality homes at very reasonable prices, but we still can’t help everyone every time.

The difference between spending $500,000 on a home and $360,000 is huge. At Geraldton Heights Estate, we can offer huge land blocks at prices that are much lower than anything in the Perth market. We can also steer you in the right direction if you are a first home buyer because you can obtain a $10,000 grant for a new home. This $10,000 goes a lot further in Geraldton than it does in any Perth suburb, even at one of our estates.

Basically, as long as you can find employment near Geraldton, you will be able to build your dream home for much less than an average home in Perth. That home will rise sharply in value during the next twenty years or so, giving you the option of selling it at a huge profit later or staying in it through retirement.

Property Investors

Because the prices are so low right now, you will be able to purchase properties at a lot faster rate than you would in Perth. In addition, you will profit off of them faster because Geraldton is growing at a faster rate than Perth is. Geraldton will also become even more popular as a sea change destination for baby boomers as they begin to reach retirement age.

The most conservative estimate has Geraldton growing by “only” 15,000 people by 2026. At a current population over 35,000, we believe other estimates that see the population in Geraldton doubling by 2030.

For investors, this means that you will be able to amass a portfolio of numerous properties and then watch their capital grow. When it’s time to sell off your property and “cash in”, you will be poised to profit greatly.

Call (08) 9301 4445 for more information.