Getting home loans to buy apartments in inner city suburbs is becoming a tricky business. Banks like ANZ have tightened lending restrictions across Perth, including the suburbs of Belmont, East Perth, South Perth and the Perth CBD, which will make it more difficult for home buyers to purchase apartments there valued under AUD$3 million.
Brokers will also have to submit their client’s full information and disclose their reasoning for loan recommendations. It’s an attempt to ensure borrowers remain honest in their applications amid growing concerns about an oversupply of apartments in high-demand neighbourhoods and a general fall of housing prices over the last year.
We at Nicheliving have the solution, and it’s as simple as this formula: affordability + infill locations = consistent demand. Our affordable apartments are located in areas like Atwell, Coolbellup and Beckenham, where supply for apartments is low. These infill locations are ideal as you’re close to everything you need, without being all up in the hustle and bustle of the CBD, and that means no loan limitations!
We also have new developments on the rise that will offer apartments in Orelia and East Cannington, further broadening the range of suburbs available to potential buyers.
If it’s affordable apartment living you’re after, then look no further than Nicheliving. Even your bank will thank you for it!