new home building increase in Western Australia
New home building rates have increased across the country, which could signal a fantastic opportunity for anyone considering building their own home in the near future.
The latest data from the Australian Bureau of Statistics (ABS) has confirmed a "modest increase" in dwelling commencements for 2012/13, with chief economist for the Housing Industry Association (HIA) Mr Harley Dale stating the recovery is encouraging.
This follows two consecutive years of decreasing activity, with a decline of 5.8 per cent in 2010/11 and a further drop of 11.1 per cent in 2011/12.
"A substantial upward revision to the March 2013 quarter contributed to housing starts surpassing the 160,000 mark in 2012/13, reaching a level of 161,043. That is a healthy figure by
recent standards and certainly a promising first round recovery for new home building," said Mr Dale in an October 11 statement.
Western Australia was one of the states that underwent a degree of growth, with home dwelling commencements increasing by 11.3 per cent during the June quarter. This could be exciting, promising news for anyone investigating building property in Perth in the coming months.
Furthermore, the Australian Capital Territory, Tasmania, Queensland and South Australia all saw the commencement rate for new dwellings increase during this period, growing by 107.6 per cent, 15.6 per cent, 8 per cent and 6 per cent respectively.
Sustained growth of the housing industry will need to come from reduced regulation, according to Mr Dale.
He stated that the confidence spawned from low interest rates will assist the industry, but the current regulatory environment "significantly dilutes" the chances of continued prosperity.
Now could be the perfect time to get in contact with the team at apg homes and discuss the various options available to you. Their expertise will provide insight into the property market, giving you the knowledge needed to create your dream family home.