Western Australia lagging behind in new home construction
Article by Mozo
Western Australia is falling behind the rest of the country in terms of the number of new homes being built, it has been revealed.
It is feared new housing starts will not be enough to service the impending mining boom in WA, after figures increased by just 2.3 per cent across the state in the final quarter of 2009, WA Today reported.
This contrasts sharply with the 15.1 per cent growth in housing construction seen in the rest of Australia, including a 16.5 per cent rise in New South Wales.
Last year, WA houses and units commencing construction reached a total of 20,057, down 3.6 per cent on 2008 levels.
A shortage of available housing is likely to affect WA residents who choose to compare home loans in search of the best deals.
Last week it was reported that the number of Australians taking out owner-occupier home loans in January fell 7.9 per cent to just over 51,000.
This article is brought to you by Mozo – Helping you compare home loans