Housing affordability concerns for Perth

The home building sector will not gain the full benefit of falling interest rates and a tripling of grants for first home buyers unless more land is released, a new report says.


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Why bother releasing more land? There may have been a shortage a year ago but now there is plenty land available under $200K which is not selling. Besides, once all costs are added up its much cheaper to just buy an established home and there are plenty of them available too. Its not that houses are unaffordable, the reason they don't sell is that people are like pack animals and right now they are too afraid to make a move into the property market. Then when a few start moving the rest of the pack will follow suit and push and shove prices up to silly levels again.

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