The State Government has released more lots in the next stage of Waranyjarri Estate at Broome North.
LandCorp has released 23 single residential lots in Stage 8B. The lots are situated close to the future primary school and local parks, with lot sizes ranging from 486sqm to 911sqm and prices starting from $168,000.
The five lowest-priced lots are reserved for first homebuyers.
Twelve new mixed-use and residential sites located 5kms from the CBD have been released by the State Government.
The sites, which range from 1,036 to 5,100 sqm in size, are part of the second stage of Springs Rivervale. According to a State Government media release, the land will be sold to developers who wish to capitalise on location which has immediate links to public transport, major roads and Perth Airport.The sites will be sold by private treaty.
The LandCorp development has been termed an ‘urban renewal’ project.
According to the media release, the development will combine urban living with a riverside lifestyle and ‘will feature a diverse mix of apartments, townhouses, offices and commercial buildings that will provide a sense of community and amenity to residents and businesses.’
More information at: http://www.landcorp.com.au/project/springsrivervale (http://www NULL.landcorp NULL.com NULL.au/project/springsrivervale)
New home sales fell to a 15 year low in August 2012 according to the Housing Industry Association’s (HIA’s) New Home Sales report.
The report, which is a survey of Australia’s largest volume builders, shows a decline of 5.3 per cent in August 2012. The decline reflects a fall of 5.8 per cent in the detached housing segment and a 2.5 per cent decline in the multi-unit market.
“New home sales for August are the latest in a string of soft new housing updates for this financial year, and that follows a very weak year for new home building in 2011/12,” said HIA Chief Economist, Dr Harley Dale.
“Indeed, following two consecutive years of decline in new housing starts over 2010/11 and 2011/12, and leading indicators pointing to weakness extending into 2012/13, policy settings in August 2012 were clearly inappropriate,” Mr Dale said.
Data released by the Australian Bureau of Statistics (ABS) on Wednesday shows West Australian residential building activity slumped to its lowest level in more than three years and continues to decline. As shown in the graph below, the total value of private residential building in WA fell sharply in the last year.
In March, 2011, the value of work was estimated at more than $1.6billion and work for March, 2012, was valued at $1.4billiion. According to the Housing Industry Association (HIA), the value of private residential building in WA has fallen 17.7 per cent in the last year, seasonally adjusted.
The data also shows a sharp downward trend has developed in the last three years.
Source: ABS
Data included in the residential building statistics includes construction data on the number of dwelling units started each quarter. As shown in the graph below, the number of dwelling starts in WA also continued to fall. Since March, 2011, starts have dropped 2.6 per cent and have trended downward since 2010.
Source: ABS
The HIA says the continuing slide of residential building and renovation work (which has contracted for three quarters) is a clear sign of recession in the Australian home building industry.
“As the residential building industry continues to contract, we are seeing real consequences for jobs, small businesses, the supply of new housing and rental costs. Governments can no longer ignore the negative impacts on employment, housing stress and Australia’s economy,” HIA’s Senior Economist Andrew Harvey said .
According to the ABS data, the Northern Territory was the only jurisdiction to record an increase in building activity in the last year which was 0.7 per cent. Fewer houses being constructed and an estimated 1000 people a week coming to WA has the potential to push house prices up and further reduce housing affordability. This would put greater pressure on the private rental market which has seen median rents in the month of June hit $450 per week (personal communication REIWA).
ABS building statistics are compiled using estimates from the quarterly Building Activity Survey which uses building approval details and returns collection from builders and organisations engaged in building activity. The statistics only relate to building activity which includes construction of new buildings and alterations and additions to existing buildings.
CHCWA is offering a full-day course in Tenancy Law for Community Housing Workers on Monday, July 23.
The course covers:
• understanding your rights and responsibilities as a landlord
• becoming familiar with the legislation governing residential tenancies
• discussing best practice in tenancy management
• understanding the dispute processes and legal remedies (eg court)
• identifying ways to support successful tenancies
• learning from industry peers.
Please email Suzie (susan NULL.winterton null@null communityhousing NULL.com NULL.au) for a flyer if you would like to know more or view our Training Calendar.
