STRONG POPULATION GROWTH, DECLINING MORTGAGE COSTS AND HEALTHIER PROPERTY MARKET ACTIVITY ARE DRIVING A CYCLICAL UPSWING IN DWELLING CONSTRUCTION, WHICH IS MOST PREVALENT IN PERTH.
Perth is leading the dwelling construction recovery in Australia. During the first seven months of 2013, an average of 1,755 dwellings were approved for construction – a 34.3 per cent increase on 2012 levels and 17.3 per cent above the historical average.
In regional Western Australia, dwelling approvals are up just 6 per cent this year and sit only 7.1 per cent above historical averages.
The relatively slow upswing in regional areas means that Perth accounted for four out of every five new dwelling approvals in 2013.
The Central subregion has been the most active area for residential construction approvals within Perth, with 28.6 per cent of approvals located in the subregion’s boundaries. The proportion of approvals in the Outer subregions varied between 13.9 per cent in the North-East and 19.0 per cent in the South-West, and the Peel subregion was home to 6.3 per cent of approvals.
We can also look at disaggregated data for Statistical Areas defined by ABS. Statistical Area Level 2 is a geographical classification which is approximately two to three times larger than Perth suburbs.
The tables and maps below detail dwelling construction approvals in Greater Perth during the first seven months of 2013 and are separated by dwelling type. Medium density dwellings include all non-detached house approvals in buildings three storeys or less. That is, semi-detached dwellings, townhouses, flats and units. Apartments include all non-detached dwellings in buildings four or more storeys high.
Access dwelling construction trends across more than 2,500 locations here.