{"id":184489,"date":"2025-10-02T07:29:10","date_gmt":"2025-10-02T07:29:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/184489\/"},"modified":"2025-10-02T07:29:10","modified_gmt":"2025-10-02T07:29:10","slug":"two-houses-sold-in-balga-show-the-pressure-on-first-homebuyers-in-perths-wild-housing-market","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/184489\/","title":{"rendered":"Two houses sold in Balga show the pressure on first homebuyers in Perth\u2019s wild housing market"},"content":{"rendered":"

Two Balga homes \u2013 practically identical in size, age and appearance \u2014 lay bare the price pressure from record low listings and the Home Guarantee Scheme.<\/p>\n

The first home, a three-by-two with a two-car garage on a 227sqm block, built in 2015, sold for $606,000 in late May this year.<\/p>\n

The second house, which is the same age and size but on a slightly smaller block, settled in September for $660,000.<\/p>\n

Real estate agent Ronnie Abboud, who sold both homes, said the price difference of more than $50,000 highlights the mounting pressure in the first-homebuyer market.<\/p>\n

Mr Abboud said both first-homebuyers and property investors have mentioned a desire to get in before the anticipated stampede of buyers using the Home Guarantee Scheme.<\/p>\n

\"ThisCamera IconThis Balga home sold for $606k in May. Credit: supplied<\/p>\n

\u201cInvestors have mentioned it from the same perspective as first-homebuyers in that they are expecting an increase in price,\u201d he said.<\/p>\n

\u201cI am having these conversations with a lot of people.\u201d<\/p>\n

Mr Abboud said there would have been price pressure in the market anyway, given there are fewer than 3000 listings. About 13,000 listings is considered an equilibrium.<\/p>\n

\"ThisCamera IconThis similar Balga home sold for $660k in September. Credit: supplied<\/p>\n

But the guarantee added significant amounts of extra demand that would otherwise not exist.<\/p>\n

Real estate agent Ross Collier agrees, claiming first-homebuyers and investors alike \u201csee the writing on the wall\u201d.<\/p>\n

Mr Collier is getting up to 40 people to home open inspections for entry-level houses, and up to 24 offers per home, with an even mix of first-homebuyers and east coast investors.<\/p>\n

He said both groups largely cite the anticipated impact of the Home Guarantee Scheme on prices as part of their reason to buy.<\/p>\n","protected":false},"excerpt":{"rendered":"Two Balga homes \u2013 practically identical in size, age and appearance \u2014 lay bare the price pressure from…\n","protected":false},"author":2,"featured_media":184490,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99,118005,11152,4686],"class_list":["post-184489","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business","tag-commercial-property","tag-housing-market","tag-property"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/184489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=184489"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/184489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/184490"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=184489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=184489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=184489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}