Western Australia tops national residential developments
New home building in Western Australia has been tracking extremely high recently, with the latest Housing Industry Association (HIA) report placing the state in first place for the development of residential properties in Australia.
The Housing Scorecard is an industry look at the rates of construction throughout the states, with conditions varying greatly between the various regions in Australia. The report aggregates various statistics about the housing industry to provide a succinct view of the nation.
Harley Dale, the chief economist at the HIA, said the system was used to highlight the strength of each state's housing and construction sector, with Western Australia currently showing the strongest conditions in the country.
"Mining investment and strong population growth have seen WA’s economy growing quickly, but until recently residential building had been stuck in the slow lane. The stronger conditions more recently have taken WA to the number one position for the first time in over five years," said Mr Dale in a November 26 statement.
This could be encouraging news for anyone considering constructing their own home in Western Australia in the near future, especially with the recent uptake of First Home Owner Grants following the increase from $7,000 to $10,000.
Now could be the perfect time to secure a home loan, especially while the official cash rate remains at the historically low level of 2.5 per cent. Generally, this translates into reduced interest rates which could help you to achieve your double storey home plans.
Get in contact with the expert team at apg homes to discuss your home plans today. Their knowledge will help you find the perfect design for your own home, with a wide range of display homes to get a feel for the final, finished product.