6 Tips to break into Perth’s Property Market at a young age

If you’re looking to break into the Perth property market at a young age, then you’re making a good decision. However, getting to it is definitely not going to be a cakewalk.

According to the ‘Housing Affordability – A study for the Perth metropolitan area‘ report, home ownership remains difficult for households on low-to-moderate incomes.

Shelter WA Executive Officer Chantal Roberts said, “There are many households, including key workers, that are trapped in our insecure private rental market due to a lack of diverse and affordable options, particularly in locations close to jobs and services”.

Whether you’re in this position, or perhaps something totally different, this study will definitely not seem good. However, you needn’t worry – I’ll help you out.

Continue reading this article as I offer you 5 tips to help you break into Perth’s property market at a young age. These tips have been provided by industry experts and analysts, so you’re sure to benefit from them.

1. Get motivated and stay focused

Get motivated

You’re probably raring to jump into Perth’s property market. But before you do so, you’ll need to develop the right mindset. Don’t think of getting rich quickly and try and look at property as a long-term investment.

You must always stay focused and consider property to be an investment plan over a 10 or 20-year horizon. Therefore, you’ll need to motivate yourself to have the ambition and drive to take on an investment that can take decades to pay off.

Experts recommend that you should find someone who has achieved what you hope to achieve at your age. Not only will this help you obtain a realistic idea of your upcoming financial journey, but it’ll also motivate you.

Moreover, try to remain excited about your goals. While your ultimate goal may be something big, break them down into smaller, more achievable goals first. As you complete each goal, tick it off to give yourself a sense of accomplishment. This’ll make a massive goal much more manageable.

Finally, it is also a good idea to take advice from a professional financial planner. Financial planners deal with investments and property all the time. They will be able to offer you some valuable insight, no doubt.

2. Start saving for a deposit ASAP


Once you’re focused and understand that the property market is a long term investment, you then need to look at the financial side – and come up with a deposit. This is one of the biggest challenges that young people face.

To be successful entering Perth’s property market, you’ll need to manage your finances with extreme care. Even if you pull in a decent income, you still need to manage your earnings and save as much as possible.

This comes with discipline and you’ll need to cut costs wherever you can.

Make saving a habit because lenders will always check to see if you have a history of consistent savings.

One way to start saving is to give up some of the luxuries in your like buying a coffee every day or a gym membership. There are many other situations you can adopt to save money. Just look at your overall spending and see which items you can do without or cut back on. It may be as simple as having only a main meal and not an entree when dinning out.

3. Take advantage of banks

property valuation

If you’re considering investing in the Perth property market, take advantage of Banks as much as possible. There are two ways you can benefit – by obtaining a loan for your investment and by opening a high interest savings account.

Most banks will be more than happy to offer you a loan, provided that your financial record is credible. As long as you have a steady stream of income and you can provide a guarantor, a bank will offer you a loan. I’ll tell you more about how you can provide a guarantor a little later.

On the other hand, with a high interest savings account, you can put aside a sum of money with the bank. While your money will be locked away for a certain period, banks will offer you compounding interest rates. By making use of these high interest savings accounts, you can reach your savings goal much sooner.

4. Study Perth’s Real Estate market

Study Perth's Real Estate market

If you invest at a young age, you’re likely to spend more time in the market with your investment. This will make your asset much more profitable.

Historically, the price of property in Perth has doubled every 7-10 years. So, if you study the market and time your entry well, you can make a big difference to your property investment.

Now, there are many ways to study Perth’s property market. You should obviously talk to local experts and do extensive research. The internet will also help you in finding a lot of information regarding Perth’s real estate market.

While you may find a lot of resources while researching, I recommend that you follow the REIWA blog. By following this blog, you’ll keep yourself up to date with every small and large development that takes place in the Perth property market.

Remember – studying the market is a very important step which too many people take casually. I’ve heard of many horror stories where homeowners have lost our on property investments because they didn’t study the market.

Investing in the real estate market involves a moderate amount of risk. By doing thorough market research and by timing your entry and exit properly, you can reduce risk and make your investment profitable.

5. Make your parents the guarantor

parents the guarantor

If you’ve applied for a bank loan, one sure way to be approved is by providing a guarantor. A guarantor is basically someone who will allow their equity in property to be used as security against your loan.

Typically, your parents’ home will be used as a security to provide you with a loan.

However, remember that the loan will be in your name and not in the guarantors. This means that you must be able to service the entire loan amount through your own income. Once you make all loan repayments, banks will release the guarantors.

By having your parents as guarantor, you can significantly reduce the size of the deposit needed for your property. When banks sanction you a loan on the basis of a guarantor, they can lend as much as 10% of the purchase price.

Moreover, if you use a guarantor, the loan to valuation ratio will never exceed 80%. This means that you won’t have to pay for any mortgage insurance and the entire financing process will be much smoother and quicker.

6. Consider a unit or renovator


If you can’t scrape together enough finance to purchase a home, you can always buy a unit or a renovator. This will get you into Perth’s property market much quicker than waiting for your finances to improve.

Because a unit is much cheaper than a house you have a greater chance of getting finance approved. Also, you’ll be able to pay off the loan faster – meaning that you can choose to sell and make a profit sooner. Just remember that if you’re going down this route, you must choose a unit that is located in a good area.

Another way to get into the market sooner is as I mentioned by buying a renovator. A renovator is nothing but a home that needs some minor or even major renovations. This is a great way to break into Perth metro area. Moreover, with a renovator, you can live in your dream home much sooner than you otherwise would have.

If you choose to go with a renovator, then you will need to buy products for your renovation project. For this, you need not look any further than Ross’s Discount Home Centre. We can supply you with everything you need for a small or large renovation.

From kitchens to bathrooms, we have an extensive range of quality building materials, products and appliances. We also have a huge warehouse which is full of over $1 million worth of stock, waiting to be dispatched. Best of all, our prices are much cheaper than other Perth suppliers. With us around, you needn’t look elsewhere for home renovation products in Perth.


If you’re looking to break into the Perth property market at a young age, then you should follow these tips. First of all, you should get motivated and stay focused on investing successfully. Next, you should start saving for a deposit as soon as possible. Take advantage of banks and study Perth’s real estate market closely. Make your parents your guarantor and consider using a unit or renovator. By following these tips, you’re sure to be successful with your property investment.

When you do enter Perth’s property market, head over to Ross’s Discount Home Centre for all your supplies. Drop by our showroom in Guildford, or shop from us online for all your home renovation needs.

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