Why Our Building Bottleneck Is Supporting Price Growth of Established Properties
Perth Property Insider Podcast
English - July 26, 2023 17:00 - 18 minutes - 17 MBInvesting Business Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Today, I'm taking a deep dive into why the building bottleneck in Perth is actually supporting the price growth of established properties.
Anyone who's hands-on in our market would know that prices are continuing to increase, especially in the lower end suburbs where investors are chasing higher rental yields, and homebuyers are pursuing more affordable options.
Let me take you through what the stats show us for the number of building approvals, how many homes are under construction and the average cost to build a new home and how all this compares to the demand for housing and why it's going to keep our market moving up despite these interest rate rises and all the negative media.
So, let's go inside.
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Episode Highlights:
Intro [00:00] Why People Are Flocking to Perth [01:26] How the Building Industry Has Changed Since the Building Grants Were First Released [03:17] Multi-dwelling Approvals Have Fallen Off a Cliff [05:22] The Number of Unfinished Homes Has Hit a Record High [06:41] The Boom That No Builders Profit From [08:44] Average Cost to Build [10:57] Median Price of a Single Level Home [12:50] Difference Between Established and New Properties [14:48] What is Driving the Established Market at the Moment? [16:38] Outro [17:53]
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