05/11/2022
The housing construction bottleneck continues! Latest ABS figures released yesterday show WA completed 13,627 residential properties in the year to 30 June 2022. That is simply not enough. We are already seeing the return of migration at a time when we have near record low residential vacancy rates and houses for sale at low levels as well. To put it in context, in the big downturn of 2015-2019, at the peak we reached near 30,000 houses for sale or rent in Perth. Right now it is around 9,800. The regions are in a similar situation. The housing shortage is here in WA and it's not going to get better anytime soon.