Tanya Steinbeck UDIA WA chief executive
UDIA WA expects positive economic activity, along with tighter rental conditions, will have a flow-on effect to the land and housing market as demand increases.
We recently tracked the historical impact of mining exploration expenditure on dwelling commencement figures in WA over the past 30 years in order to get an even clearer picture on how that sector affects the property market.
We found there is a distinct two-year lag between an upturn in mineral exploration expenditure and a corresponding uplift in dwelling commencement figures.
Therefore, based on current mineral exploration
expenditure figures, we can confidently predict that the next property market upswing will likely occur within 12-18 months. Areas to watch
City of Swan: The recent rezoning of a large swathe of land in Henley Brook will open up more opportunity in the northeast growth corridor in the coming years.
Subiaco: The Subiaco East Redevelopment Area provides a massive opportunity to provide a diverse range of residential, retail and commercial product to the market.