Housing starts slump 19.9% in WA

New housing starts in Western Australia were down 19.9 per cent for the September quarter.


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Finally a statistic that reflects what we all knew, but what nobody was reporting. Residential building groups need to admit that the ‘first home buyer’ scheme was subjected to abuse and artificially increased house prices. A 'currently discussed' option is for first home buyers to receive interest rates at two per cent below the standard variable rate for up to two or three years. The shortfall could be subsidised by state or federal government monies. However, this notion needs further debate - particularly as it could replace a 'honeymoon rate' and banks may not like the idea.

It is clear that the housing sector is under the pump. Rents are on the increase and house prices will follow soon enough. We are putting fingers in the dam wall at the moment. When it breaks this mess will get worse. Governments seem incapable of moving quick enough to deal with worker shortages, housing shortages etc They also seem incapabale of giving the private sector the tools to keep up as well.

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