Business News

RESIDENTIAL land developers are cautiously optimistic about future sales in Western Australia, as the sector stabilises after years of volatility.

Major players are reporting lower demand for new land than in 2020, when COVID-19 stimulus packages prompted a flurry of buying activity, but are confident the appetite for their product remains strong.

Favourable economic conditions in WA led to 8,960 new lot sales during 2021, compared with 10,870 the previous year, recent Urban Development Institute of Australia WA data shows.

To read the full article, including comments from UDIA WA CEO Tanya Steinbeck, click here.