Master Builders Association
'Residential Update'

This Weeks Episode of Home in WA

Contact:
MBA WA

Email:
mba@mbawa.com

Website:
http://www.mbawa.com/

Phone:
(08) 9476 9800

Fax:
(08) 9476 9801

Address:
35 Havelock Street
West Perth WA 6005

This Weeks Episode of Home in WA

Kalgoorlie

Geraldton

Bunbury

Albany










Interest rates were cut in early September and with talk of more rate cuts on the way, there is a lot of discussion about the impact that this will have on the residential property market.  Gavan Forster from the Master Builders Association had this to say.
    
“Over the long term, we are positive about the outlook for residential property.
The number of dwellings being completed each year in WA continues to lag behind forecasted long term demand for housing.
At some stage, the number of dwellings completed will have to increase to meet demand for accommodation.  So we see fundamental strength in the WA property market over the medium to long term.”

“In the short term we expect the property market indicators to reflect current softness in the market.   The number of land sales has fallen to the lowest level since before the introduction of the GST.  The median house price has also fallen, but this has just given back some of the increases in the boom over the last two years in WA.   But this could all change with a change in the interest rate cycle that could see buyers return to the market.”

As always, the Master Builders Association keeps abreast of changes to the Residential property market and continues to work closely with the Government and Industry sectors to ensure that our building industry remains viable and vibrant.
    
Contact the Master Builders Association on 9476 9800 or find out more at www.mbawa.com.