WA sets new home building record in 2013-14

Bill Marmion
Minister for Mines and Petroleum; Housing

Construction was started on a record 28,966 new homes in Western Australia in 2013-14, a 20 per cent jump on 2012-13. Housing Minister Bill Marmion said, “The housing industry is a crucial generator of jobs and a key economic driver. In uncertain times, when global factors influence our economy and consumer sentiment fluctuates, these forecasts are especially important.” Housing Industry Association research shows three fulltime building industry jobs are generated by every million dollars of construction investment in WA.

Mr Marmion said the high carryover of building approvals from last year would keep housing starts at a strong pace, with 25,000 starts forecast for 2014-15. The forecasters noted that the number of home sales to June 2014 fell for the fifth consecutive quarter, and the median rent fell 5.3 per cent over the past financial year to $450 per week.

 Planning Minister John Day said the release of phase two of the State Government’s Planning Reform agenda would see faster housing approvals and significant savings in the cost and time taken to develop land in WA. There were 6,802 First Homeowner Grants for new homes in 2013-14, a rise directly attributed to the WA Government lifting the grant to $10,000 in September 2013.

Mr Marmion said the State Government’s Affordable Housing Strategy was increasing the supply of affordable homes and land, while supporting building investment. “In collaboration with public, private and not-for-profit sector partners, more than 17,000 affordable housing opportunities have been delivered under the strategy,” he said.

Median Perth house price in the June quarter was $535,000, 2% higher than a year earlier. For more information, visit: http://www.hifg.net.au