Australian Property Investor Magazine
The peak body for property development in Western Australia says dire housing supply shortages and a lack of projects in the pipeline in the state necessitates urgent action.
Western Australia’s housing supply issues have reached a critical point.
For years now Perth has experienced record low rental vacancy rates and the stock of housing on the market has remained at extremely low levels.
According to recent Real Estate Institute of WA figures, median weekly rent in Perth has increased steadily to $545 per week and the median sale price for a house is now $542,000.
East coast counterparts might see those figures and wonder what the problem is given Perth remains the most affordable capital city in Australia. The problem is it is unlikely to stay that way in light of current trends.
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