Perth continues to have the strongest growth in building approvals among any state capitals, according to Archistar & # 39; s latest market update.
In the first three months of the year building approvals in Perth increased 117.9% compared to the same period in 2020. The number of approvals in Perth during the quarter was second after Melbourne in the month, but continues to widen the gap with Sydney and Brisbane.
Andrew Wilson, chief economist at My Housing Market and author of the Market Update, said the surge in approvals showed no sign of moderating despite the HomeBuilder program ending.
"The recent unprecedented increase in housing construction approvals is clearly a positive factor for a post-COVID economic recovery, contributing to continued strong employment growth and putting downward pressure on unemployment ", did he declare.
Private sector housing approvals hit an all-time high in March, rising 11.8% from the previous high in February.
"Supply constraints, however, are likely to arise as a result of a significant surge in demand with higher construction costs leading to higher prices for new homes "Wilson said.
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