Your business is our community
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On Thursday 14 November we hosted Housing Industry Association (HIA) Industry Outlook luncheon at The Mantra Lighthouse Bunbury. Tim Reardon, the Chief Economist for HIA shared a national, global and local outlook with a healthy optimism for the next two years for our region.
Comparative data for housing completion forecasts in WA are as follows:
- 18,893 detached houses for 2024/2025 compared with 15,949 for 2023/2024
- 1,949 multi housing 2024/2025 compared with 1,671 for 2023/24
- Change in house values from July to Sept 2024 saw Perth with the highest in both units (6.2%), and houses (4.6%), across the nation.
With state and national elections planned for 2025, housing affordability is a top three concern, after cost of living & healthcare. 80% believe owning your own home makes you more financially secure. 81% think ‘everyday Australians’ should be able to own their own home while 71% are concerned those unable to get into home ownership will face financial challenges in retirement.
Interestingly 92% of renters aspire to own their own home however 49% feel they will achieve it. 71% of those unlikely to own a home, feel disappointed.
This following data share the percentage of growth in the number of dwellings across WA. Bunbury continues a healthy growth sitting just behind Mandurah and Greater Perth. It was great to have Tim come to the region to share his insights, and hope to bring him again in the future.
