Nowadays, Perth leads the property market recovery. Perth property investment influenced by the mining sector and known that real estate is the home of fastest growing population. Will building houses answer the housing shortage?
According to the latest Housing Industry of Australian (HIA) report to 2020, “In order to have the additional population as well as eliminate the already existing housing shortage, Western Australia will need to build approximately 31, 700 homes per annum in the years to 2020.” Since WA has the fastest growing population of all the states and expected that more investors to move this year, HIA reported that 43% equivalent to 31,700, homes per annum that dwells completion and to satisfy the demand. 2013 is a good start to see a general trend of property investors and will continue the demand on mining resources.