Vacancies are rising rapidly in the residential leasing market, while at the same time median rents are falling; but that's just the market returning to normal from its recent highs, according to a prominent local property player.
Western Australia's home-building sector may be set to break all-time records in the 2014-15 financial year but the booming conditions aren't likely to last, with a significant slowdown predicted over the next two years.
One of the state's residential building hotspots, the northern corridor village of Ellenbrook, is entering its final phases, coinciding with its 20th year of development.
Western Australia's home builders won't keep up the record pace achieved in 2013-14, with housing starts flagged to fall 14 per cent next year on the back of slowing population growth and a softening economy.
Record building approvals in 2013-14 have resulted in an all-time high of dwelling commencements in Perth, but the latest data show housing construction may have hit the peak of the cycle.
More Western Australians think it is a good time to buy property than in any other state in Australia, but sandgropers remain increasingly pessimistic regarding the prospects of capital growth, according to new research.
Western Australia's residential construction sector is continuing to exhibit rapid growth, with the state government's official forecaster tipping the highest level of activity in more than two decades.
Western Australia's residential property market is set for further growth in the year ahead but commercial construction is expected to soften, industry experts say.
The housing construction industry in Western Australia hit decade-low activity levels last financial year, yet there is uncertainty about whether the traditional bounce will occur.
A housing industry group is sticking to its forecasts for the state's property sector, tipping housing starts to decline 5 per cent next financial year and no shortage of residential building lots for the next two years.
