WA’s new properties in high demand

By Kevin Kelly

If you've got your sights set on buying your perfect real estate in Australind, you could find that competition is increasing for new-build properties.

The latest figures from the Australian Bureau of Statistics (ABS) show that while new home lending was down slightly in the state in April, residential building activity has nevertheless remained strong.

John Gelavis, Housing Industry Association regional executive director for Western Australia, said there are plenty of reasons to be optimistic in this part of the country at the moment.

He continued: "Despite the modest decline, today's housing finance figures confirm residential building activity in WA is in a solid position mid-way through 2014.

"Indeed, leading indicators suggest that we may build more homes in WA during 2014 than we have in any other year on record."

National ABS data shows a 1.1 per cent rise in the number of loans approved for the construction of new properties. This compared to just a 0.1 per cent increase in approvals for established dwellings.

Meanwhile, there was a slight month-on-month drop in the number of first-time buyers seeing their mortgage applications approved, down 0.3 per cent between March and April. 

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