15 October 2014
WA Dwelling Starts Shatter 25 Year Record
Dwelling commencements in Western Australia are at record highs according to data released by the ABS today.
“As forecast by Master Builders Australia, Western Australia has shattered a 25 year record for dwelling commencements. At nearly 29,000 for the year 2013-14, housing starts are the highest level since 1989,” Peter Jones Chief Economist of Master Builders Australia said.
“Today’s figures show record dwelling starts for the June quarter 2014 of 7,481 in original terms compared to 6,850 in the same period in 1989. This takes starts for 2013-14 to 28,966 compared to 27,965 in 1989,” he said.
“But this upturn only restores residential building to a level achieved 25 years ago. In that time Western Australia has seen strong population growth and the housing recovery needs to be sustained in order to tackle the state’s housing shortfall,” Peter Jones said.
“Increasing the housing supply is crucial if the dream of homeownership is to remain a realistic one for Western Australians. Increasing supply is the key to affordable housing not abolishing negative gearing,” he said.
“Good policy at the Federal, State and Local Government level is essential to achieving a continued upturn in residential building, increasing the supply of new housing and growing the number of jobs created by the building industry,” Peter Jones said.
“In Western Australia reform to reduce the number of councils must be the first step in removing supply side obstacles through improved and planning and building approvals processes,” he said.
At the national level Master Builders Eight Point Affordability Plan sets out other the reforms necessary to increasing the housing supply, addressing affordability pressures and ensuring a strong building industry, a strong state economy and more jobs for Western Australians,” Peter Jones said.
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