The West Australian
How is it possible, in this big brown State we call WA, to be facing an undersupply of blocks of land?
The State is 10 times the size of the UK, but with only 4 per cent of its population.
Notwithstanding the vast portions that are too hot and isolated to live in, the Urban Development Institute of Australia (WA) has highlighted the ludicrous situation that the supply of new blocks coming to market is set to diminish at a time of anticipated population growth.
It doesn’t take a genius to figure out that if supply diminishes at a time of rising demand, prices will increase.
In my view, while a significant price hike in the cost of vacant blocks is a few years away, it is likely to be as rude a shock to West Australians as the recent jump in construction costs.
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