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{{propApi.successMessage}} {{region}} Change locationWA building approvals show lag when supply needed
WA building approvals show lag when supply needed
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“Detached house approvals in Western Australia decreased by 2.8 per cent in the month of June, while multi-unit approvals have almost tripled (+198.3 per cent) from the near stagnant levels in May 2023, providing a total increase of 8.7per cent” said HIA WA Executive Director Michael McGowan.
“On a quarterly basis, this leaves detached house approvals in Western Australia 23.4 per cent lower than in the June Quarter 2022, while multi-units were down by 74.2 per cent.”
“These results show the impact of the RBA’s continual interest rate hikes are flowing through the market right at a time when our priority should be on increasing the supply of housing,” said Mr McGowan.
“We are starting to see a reduction in the pipeline of work as houses on site are completed, and while the shortage of skilled labour is still an issue, there is now capacity coming into the industry at the front end of the construction process.”
“Now is the time we need government at all levels to support the crucial delivery of housing supply by easing the way for delivery and not imposing any additional fiscal or regulatory hurdles,” concluded Mr McGowan.
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