The Australian property market has seen a remarkable rise in property prices, with 2021 etched in the history books as the third-highest annual growth ever recorded. Last year saw housing values grow more than 20% in capital cities, and by 25% in regional areas. While sustained price growth presents a prime opportunity for investors to enter the market, investors must move quickly to stay ahead of the game.
In this article, we explore all you need to know about rising housing values in Perth and provide an exclusive look at how you can lock in the lowest price for a premium riverside apartment at The Groves in Attadale.
Perth Property Market Set to Skyrocket in 2022
The Perth property market is certainly no exception to the strong market conditions seen across Australia. According to the state’s peak body, the Real Estate Institute of Western Australia, property prices soared by 14% over 2021. Property experts predict high demand trends to continue, with prices set to skyrocket again in 2022.
The rapid market growth has additionally been driven by dwindling stock levels, which will only be further compounded as migration patterns increase this year. Nationwide, the construction industry is facing a labour and material shortage, forcing building and renovation costs up 3.8% in the quarter ending September 2021. Combined, these factors are causing upwards pressure on housing prices that will prevail into the foreseeable future.
Investors Must Move Quickly to Get Ahead of the Price Surge
The news that Perth property price growth is still in full swing, with no end in sight, is music to the ears of investors. However, there are of course two sides to the same coin. Investors must move quickly if wishing to reap the price growth benefits, by securing a property for less before market value rapidly increases. Fortunately, Perth investors still have ample opportunity to get ahead of the market and pay less for a prime investment before prices soar.
Luxurious Boutique Apartments on Offer at The Groves, Attadale
One such opportunity for a keen investor is the exceptional new boutique apartments, currently under construction at The Groves in Attadale. Behind The Groves are trusted real estate developer SKS Group, whose impressive portfolio of developments include the Double Tree by Hilton. The new premium development, entitled ‘The Groves’, is located in the heart of the affluent riverside suburb of Attadale. Featuring several architecturally designed one, two and three-bedroom apartments, The Groves is an excellent investment prospect within a well-established, high-price point area.
In addition to a sought-after central location, The Groves is in proximity to all local amenities tenants desire and offers excellent connectivity to public transport. The area boasts an impressive average rental yield of 3.8% and a weekly three-bedroom rent of $510, no doubt spurred on by the suburb’s high rental demand. Prospective renters are sure to be dazzled by the luxurious nature of the apartments, designed in partnership with award-winning architectural firm Cottee Parker.
Each stunning apartment at The Groves features first-rate specifications ensuring the utmost level of comfort and safety, including:
• Induction cooktops to all apartments
• Engineered stone benchtops
• Glass splash backs
• Air conditioning to all bedrooms and living/dining areas
• Mirrored wardrobes
• Energy efficient lighting throughout the development
• Secured covered carpark with 24 hour camera surveillance
• 24 hour camera surveillance monitoring GF entrance lobby doors
Lock in the Lowest Price for a Premium Investment Opportunity at The Groves
With housing values set to continue rapidly ascending throughout 2022, there has never been a more opportune time for investors to enter the property market.
The Groves in Attadale are offering investors the exclusive chance to lock in a competitive low price for a brand new one, two or three-bedroom apartment, from as little as a $5k deposit. Prices start from as low as $399k, presenting investors with exceptional capital growth potential, tax deduction benefits, and a superior long-term investment option.
The Groves has committed to keeping price rises at bay for as long as possible, but swift changes to market conditions and rising construction costs mean these extraordinarily low prices cannot remain for much longer. With construction well underway and completion in sight for the end of 2022, investors must move quickly to take advantage of this limited time offer before prices increase to meet market values.
If you’re interested in beating the price rise with a prime riverside investment opportunity at The Groves, contact our friendly team to enquire about locking in a low price.