Housing Approvals in WA Reach New High

By Kevin Kelly

If you're considering buying real estate in Eaton, the latest property figures from the Housing Industry of Australia (HIA) should come as welcome news.

The HIA reported on April 2 that total residential building approvals in Western Australia rose to the highest monthly total ever recorded in the state during February.

"These figures will come as a welcome development to those who have expressed legitimate concerns about housing supply and affordability in WA," said HIA Acting Executive Director for Western Australia John Gelavis.

"With mining investment starting to come off the boil, residential construction has much to offer in terms of plugging the growth gap in WA. We urge policymakers to do what they can to support new dwelling construction."

Detached house approvals increased 5.8 per cent during this time period, the highest figures for detached property specifically since April 2006. Meanwhile, multi-unit activity rose 1.4 per cent during February.

Compared to the same time in 2013, total dwelling approvals for the three-month period ending in February were up 25.1 per cent.

More stock coming on to the market will no doubt improve affordability for buyers, making now an ideal time to consider real estate in Eaton and surrounding regions.

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