Records tumble as Perth recovery goes into overdrive
Australian Property Investor
Perth’s real estate revival is continuing to gather pace, with 20 suburbs hitting record-high prices, apartment development starting to ramp up and new land sales remaining strong despite the expiration of state and federal government stimulus measures.
Data from the Urban Development Institute of Australia showed the end of the federal government’s HomeBuilder and the WA state government’s Building Bonus had not stopped the growth in land sales, with new lot sales up 5 per cent in the March quarter.
UDIA WA chief executive Tanya Steinbeck said land sales were up 31 per cent in the March quarter as compared to the same time last year, with 1,927 lots sold.
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