Property Development GuidePerth Property Market is on the Rise: time to invest and avoid the pitfalls

Property Development Guide
Perth Property Market is on the Rise: time to invest and avoid the pitfalls

Now is a fantastic time to invest.

The Perth property market is on the rise, and showing the most growth compared to any other Australian city. The quick uptake of tens of thousands of dollars in government COVID-19 economic recovery bonuses for new homebuyers and builders means an estimated 17,000 extra homes will be built in Perth this financial year.

The Mirage News stated, “rising buyer competition is prompting price growth for nearly half of Perth’s suburbs and buyer activity is tracking 40% higher, annually.”

And Yahoo News has said, “Western Australia has been named Australia’s most affordable state to live in by the Real Estate Institute of Australia for eleven consecutive quarters, and the Perth property market is seeing its highest number of property sales in five years.”

This is great news for the Perth economy, and great news for those willing to dive in now.

However, investors need to be ensuring that they are buying and investing smart – in suburbs with demand and limited supply. 

Here at Jubilee Home Builders, we are the leading property development builder in Perth. Jubilee’s expert residential construction team specialise in wealth-generating multi-unit developments and beautiful custom homes.

Our strength lies in our ability to offer a simple and complete service. Our expert property development build team can manage your entire project – from soil testing and engineering, through to development application and approval, and completion of the project.

We know the lay of the land; the suburbs that buyers want to live in, and where homes are reaching the best prices.

It is important as an investor to not let the hype surrounding the current Perth property market make you rush out, and make any bad decisions. A general rule of thumb for property investing is that money is better spent around inner suburbs with already established schools/amenities, with less land/stock supply, as these areas always have better capital growth.

With a population of two million people living along a 150 kilometre stretch of pristine coastline, Perth has one of the largest urban sprawls in the country. A major trap for investors is to buy new homes in outer suburbs which have poor transport infrastructure and then are often forced to sell later at a loss because of a lack of demand for these homes. So, property investors should only focus on areas where there are good levels of transport infrastructure or newer areas where major transport links are planned in the next few years.

At Jubilee, property development builder Perth, we highly recommend undertaking market research prior to purchasing a development site. Meet with several real estate agents, compare current market prices versus previous sales, and ensure your development could be priced competitively and in line with the current market value. 

Investing in real estate really is a numbers game and when choosing a property development builder, Perth, it’s important to choose a development team experienced in property development. With the peace of mind that your project is set up correctly from day one, and the knowledge that you’re working with a company that knows how to design and build properties that sell, you can look forward to gaining the profit you’re hoping for from your development. 

At Jubilee Home Builders all our staff has vast experience in the industry.  As a leading Perth property development builder, we’re aware of the market and current trends. We can help you build an investment development for maximum profit. 

To get started on your next property development project in Perth, contact us via our website or call us on (08) 9571 3512.

Can I develop my block of land in Perth?

Can I develop my block of land in Perth?

At Jubilee, being known as an experienced property development builder in Perth means that we often have prospective clients coming to us for advice on whether or not they can build more than one home on their block of land.

It’s great to get advice from your builder this early on – and the short answer to the common question is yes, it is possible in many situations. However, there are different laws and specifications for each Local Council which is why you need to either do your research or engage an experienced builder and development team. 

property development

The most popular option is a triplex – one block, three houses.

Another option is a duplex or dual occupancies where one house is behind the other and more often than not share a common driveway.

The strongest appeal to people building a triplex or duplex is the significant increase in the value of their property and the potential for income through selling or renting. Other advantages include being able to care for the family right next door, or building an additional home as an investment property and source of income. 

By working with experts such as Jubilee Home Builders, who are a leading property development builder in Perth, to construct your triplex or duplex, you’ll also be working with a team who know your area and the Council development conditions and requirements. Our specialist team will be able to support and guide you on your options and which is most effective for your goals.

Keep in mind that not all blocks are suitable, so you ideally need a block that is level, isn’t home to too many trees, and has not experienced Council rejection of development applications previously.

However, as a guide, the Council Planners will have at least the following as minimum requirements:

    • A minimum lot size (square metres) to enable subdivision
    • Council will require a minimum amount of private open space for the existing dwelling and the new dwelling
    • There will be minimum setbacks from the boundaries for the privacy of adjacent properties
    • Stormwater disposal 
    • Existing services on the site

To ensure accuracy, the final quote from a builder will be provided once all of the Council conditions and the constraints of the existing lot are known. 

With regards to the subdivision of a block for a triplex or duplex, this can take place when the buildings are completed and approved by the relevant Council however can also be complete during construction before completion of the dwellings.

When signing on a specialist property development builder in Perth, make sure you’re factoring in all of the elements of a development and not just the price. You should be looking at the quality of their work, their experience with building developments, their timelines and their ability to get their developments sold. 

These are critical factors in your decision and could make the difference between a successful and profitable development, or not. 

If you’re considering developing your existing property, or you’re looking at buying land to develop, get in touch with us on our website or phone (08) 9571 3512