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Housing construction in WA expected to decline

By Kevin Kelly

The last two years have seen some significant growth for the property market across the country, and Western Australia is no exception. 

However, a recent report from the Housing Industry Association (HIA) has outlined that this could all be about to change.

In the latest State Outlook report, HIA executive director for Western Australia John Gelavis said the "unprecedented level" of new home construction across the state seen over the last year is likely to begin slowing down – returning to more traditional levels of output. 

"With the economic impulse from the mining investment boom now behind us, we expect the level activity will quickly revert to the levels we are more accustomed to seeing," said Mr Gelavis in a 18 May statement. 

The current level of housing construction occurring across the state rose to a record high, with projected starts reaching 30,569 over 2014/15. This represents a 4.6 per cent jump over the previous year and highlights the strength of the state's market. 

This could lead to good return for current investors who own Bunbury real estate. If the supply of housing drops, investors could see great results if they choose to sell in the future. 

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