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Lowest employment rate in over 40 years
Australia this week recorded 103 consecutive quarters without a recession. However, WA’s full-time employment rate is at its lowest level for over 40 years. With WA’s population growth just over 1% (compared to nearly 4% during our last boom) it’s not surprising that housing starts are lower than the 10 year average.
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Key discussions had with Minister for Local Government
Master Builders met this week with the Minister for Local Government. Key areas discussed included local government performance, our regulatory reform mandate including planning reform measures and bushfire regulatory matters.
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Continued concerns with Gosnells Council
Our Housing Director, Jason Robertson has again corresponded with Gosnells Council, following continued concerns with inconsistencies regarding building approvals. A meeting will be held shortly.
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Housing affordability
Recent media clippings have intensified the debate on stamp duty cuts and housing affordability. Some Media claims stated that cutting stamp duty for first home buyers will drive up house prices, but this ignores the impact of cutting stamp duty on helping those people save for deposits to enter the market which is different from making repayments. Importantly, claims that such measures simply drive up prices tends to be concentrated on the Sydney and Melbourne markets, not necessarily elsewhere.
