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We've reached the bottom: Satterley
12-November-08
Written by Janelle Macri
Property developer Nigel Satterley believes the Perth residential property market is virtually at the bottom of its downward cycle, with increases to the first home owners grant and the drop in interest rates injecting some stimulus into the market.
Speaking at a property breakfast in Perth today, Mr Satterley said it was a buyers market, with first home owners presented with a "once in ten year" opportunity to buy at good prices.
"The falling interest rates and the first home owners grant is certainly helping put a floor in the residential market in the $200,000-$400,000 market, it's starting to bottom out, it won't drop more than 5 per cent," he said.
Article continues...
12-November-08
Written by Janelle Macri
Property developer Nigel Satterley believes the Perth residential property market is virtually at the bottom of its downward cycle, with increases to the first home owners grant and the drop in interest rates injecting some stimulus into the market.
Speaking at a property breakfast in Perth today, Mr Satterley said it was a buyers market, with first home owners presented with a "once in ten year" opportunity to buy at good prices.
"The falling interest rates and the first home owners grant is certainly helping put a floor in the residential market in the $200,000-$400,000 market, it's starting to bottom out, it won't drop more than 5 per cent," he said.
Article continues...
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