Satterley Property

Reporter: Andrea Burns

From family homes to savvy investments... when Nigel Satterley talks property, people listen. Where we see scrub, Satterley sees suburbs. And odds are, the home you're sitting in tonight is built on land he developed. Would-be home buyers packing into a night time seminar to pick his brain If you know WHERE to buy. Nigel Satterley reckons he's got a pretty good idea. And we have his lists.

He believes the best value for first home buyers, in new house and land packages is between 285 and 375 -thousand . South of the river, he recommends Secret Harbour, Baldivis, Forrestdale, Bertram and Champion Lakes in Kelmscott, where blocks start at 165 000 dollars

Nigel says "the buyer has a wonderful opportunity to buy at good value, if they do their homework and take their time" North... he says Ellenbrook offers good value. If you like the idea of living near the ocean, City Beach and Marmion might be out of your price bracket, but further north, consider Brighton - where cottage blocks are under two hundred grand, just eight hundred metres from the beach.

New developed suburbs Tapping and Ashby are also an option, boasting new houses, good roads and extensive facilities. At the height of the boom, the average property price in Perth topped 474 000, stretching many families beyond their means.

Nigel says "buyers were spooked by 5 people trying to buy a property, the arrogance of some of the sales people saying if you don't buy it, you're going to miss out, if you don't pay more, you're going to miss out the market's turned" The March figures saw the price of the average home drop to 460 thousand - but with rising interest rates, even those so called "average" prices are beyond the budgets of many .

Under the "first start" programme, the government goes shares with first time home buyers. What's the catch? The property has to be under 375 000. Again, Nigel Satterley says some suburbs offer good value, average prices under the bar. And it's not only aimed at getting young renters to buy. "We've seen a lot of older people that are 55, 65 , have been in long term rentals, coming along to find out how they can get home ownership through shared equity, how they can get off the rental treadmill"

In the Southern Suburbs, Nigel says have a look at Gosnells with an average price of $320 000

Huntingdale ...Thornlie ....Forrestfield ....Orelia and Bertram. At around 315 000 he says Warnbro's good value and near the beach, so are Port Kennedy and Safety Bay at around the $370 000- mark. Nigel says "North you can get refurbished houses in Balga for 325 000 which I think represents good value"

North he also likes Girrawheen at around the 300 mark, Mirrabooka, Craigie, Clarkson and Ellenbrook. Historically, property bought at the right price doubles every seven years. If its residential homes you're after that should yield a good return, Nigel Satterley says look at the big blocks of Duncraig, Greenwood, Warwick, Craigie, Padbury, Beldon and Heathridge. South - Queens Park, Cannington, Hamilton Hill, Spearwood and again, Secret Harbour.

Nigel believes houses hold their value better than apartments because the land value is greater. He also says knowledge is power - finding out what similar homes are going for, can make sure you don't pay too much. Check the "for sale" pages in the papers, go on line to www.reiwa.com www.rpdata.com or the www.landgate.wa.gov.au site to get a clearer idea of prices, before you buy.

Nigel Satterley didn't become WA's biggest developer , and one of Australia's wealthiest men by talking home ownership down. He also has many developments in many of the areas he's recommended to us, and he readily admits that. Still, he says he believes in the Great Australian Dream and reckons most west aussies do, too. "A brick and tile home up and down the coast, our television station channel 7, the west Australian newspaper and the king brown , the big bottles of beer that our fathers used to drink was the culture and these things are bred into us that you must own a home, I think young people know how important it is"