WA's housing approvals increase during november
Western Australia's new home building industry is set to experience a boom of activity, as the latest data from the Australian Bureau of Statistics (ABS) has indicated an increase in the number of housing approvals in the state during November.
This could be great news for anyone considering double storey house plans in Perth in the coming months, with the market continuing to strengthen following the developments last year.
The data outlined that residential approvals were up by 4 per cent in November, following a 6.3 per cent decline in October. Detached house approvals in November were also 17.4 per cent higher than 12 months prior.
Multi-unit approvals also rose by 35.4 per cent during the month and are currently sitting at 65.6 per cent higher than a year earlier. These results highlight the growing strength of the Western Australian market for the construction of new properties heading into 2014.
Acting Executive Director for the Housing Industry Association (HIA) Western Australia John Gelavis said it was important for the Western Australian market to stay strong - especially with the expected population growth occurring in the near future.
"During 2013, WA snapped out of the doldrums in terms of residential building and today’s figures confirm that the strong recovery is continuing. In the three months to November, total dwelling approvals were running at an annual rate of almost 30,000 in the state," said Mr Gelavis in a January 9 statement.
He also said the growth was helping to fill in the shortall of new buildings that has occured over the last decade, which is beginning to happen at the perfect time for the state's continued development.
If you're considering building your dream home in Perth, get in contact with the team at apg homes to discuss the options available to you.