REIWA President Joe White (pictured above) identified the real issue behind rising property prices in Perth as a significant gap between supply and demand, rather than specific market sectors like investors or baby boomers.
“What is actually pushing prices up is the significant imbalance between supply and demand, not a particular sector of the property market,” White said.
Western Australia saw a population increase of 3.3% in 2023, adding around 31,600 new households needing accommodation, while only 16,800 private dwellings were completed.
This shortfall of about 15,000 homes has exacerbated the housing crisis.
“We are not building enough new homes to meet demand,” White said.
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White calls for reducing bureaucratic hurdles and exploring diverse housing options like medium-density housing and demountable homes to address the supply issue.
“There is too much bureaucratic effort in telling people where they can’t live rather than where they can live,” he said, advocating for a more proactive approach to easing the housing shortage.
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