WAToday
A new unit will be established within the WA Treasury department to address the state’s critical housing shortage and ensure WA gets its fair share of federal funding under the Housing Australia Future Fund.
Like other property markets across the country, WA’s housing market is facing significant pressures with strong population growth and ongoing building delays pushing Perth’s rental vacancy rate down to 0.7 per cent in September.
Property listings for sale dropped below 5,000 at the end of September, the lowest level in 30 years.Treasurer Rita Saffioti said the Housing Supply Unit is expected to be operational from January 2024 at a cost of $1.4 million.
“The unit will work with the residential building industry and property development sector to identify specific barriers to increasing supply, and work with other agencies and government trading enterprises to address those barriers,” she said.
To read the article in full, including comments from UDIA WA CEO Tanya Steinbeck, click here.