Western Australia’s housing construction activity will remain flat this financial year, but conditions are forecast to pick up from 2018-19, according to a leading industry report.
Housing Minister Peter Tinley officially launched the Housing Industry Forecasting Group’s (HIFG) 2017-18 report at an industry function yesterday (November 30).
The HIFG provides government and industry with independent assessments and forecasts of the outlook for housing starts in WA.
According to the report, the property market has been in a cyclical downswing for the past few years and there remains a significant shortage of affordable housing for Western Australians on low incomes.
The report also noted that a lack of diversity in Perth housing stock remains a challenge and that there is an unmet demand for medium-density developments.
The HIFG is a joint industry and government body comprised of representatives from a diverse range including the Real Estate Institute of WA, the Housing Industry Association, the Master Builders Association, the Chamber of Commerce and Industry (WA), the Urban Development Institute of Australia (WA) the Chamber of Minerals and Energy, Curtin University, Property Council, Landgate, Landcorp, the MRA and Bankwest.
The departments of Communities; Planning, Lands and Heritage; the Premier and Cabinet; and Treasury, as well as the Water Corporation are also represented on the HIFG.
For a copy of the full report, visit http://www.hifg.net.au