WA weekly land sales up 55%

The boost to the first home owners grant has driven weekly land sales in Western Australia up 55 per cent, providing a ray of light in the softer housing market.

The Urban Development Institute of Australia reported today that WA's top developers had sold 101 lots last week, compared to the average 65 recorded before the boost to the grant.

"The four months prior to that boost were the worst four months in terms of sales numbers that we have ever recorded," chief executive Debra Goostrey said.

"It is promising to see that sales are picking up into 2009 and the increase is testament to the positive impact that the first home owners grant boost has had on the market.

"The majority of sales are priced between $160,000 and $240,000, which is first home buyer territory.

"Despite the doom and gloom reports across the country, these statistics are a ray of light for the property market in WA."

Figures are based on a survey of 12 UDIA Developer members.