The federal government has thrown extra funding at plans to speed up project approvals, a week after signing the first memorandum of understanding with Western Australia.
New home completions in WA have slipped to their lowest level in almost two years, magnifying calls for the state to pause major infrastructure projects and focus on boosting housing supply.
The boss of the state's housing institute says builders should remain alert but not alarmed, as the Middle East war starts to impact construction costs.
New ABS data released on Tuesday showed the state's dwelling approvals fell by 1.9 per cent in December, adding to the 14.1 per cent drop in November, sparking urgent calls for reform.
The state government has turned to the private sector to build a manufacturing facility for housing components to speed up and increase residential supply.
The state is leading the country in home completion growth, after recent data assessed whether Australia was on track to achieve its National Housing Accord target.
The Reserve Bank of Australia has kept the cash rate unchanged at 3.85 per cent, shocking markets which predicted a 90 per cent chance of a 25 basis point cut.
The building commissioner is set to receive a broader suite of powers under new laws flagged by the state government amid a review of the contracts legislation.
It was Chamber of Commerce and Industry WA chief economist Aaron Morey who summed up industry feelings on the budget best, when he said ‘thank god for rocks and royalties'.
Industry bodies have begun to digest Treasurer Jim Chalmers' fourth federal budget, with the housing commitments described as modest and a missed opportunity for the sector.
The number of housing starts in the state is expected to rise steadily in the coming years, with construction of homes to increase by nearly 7 per cent next year.
Nicheliving and its directors will be banned from operating for a decade and the state government will fork out up to $40 million to finish the hundreds of incomplete homes.
The Silvestro family-led company has almost doubled its volume of home starts in the past 12 months, in a shake-up of the state's residential building industry.
Iplex Pipelines and the state government have agreed to provide up to $150 million as part of an industry deal to repair damaged houses but BGC Australia is not participating.
The Bankwest Curtin Economics Centre says there should be more incentives for workers in the building and construction industry if WA is to meet it housing targets.
Perth had the highest annual growth in the median price of residential land among Australian capital cities in 2023, according to a property industry report.
Resources royalty reliance and a lack of action on payroll tax were among the key observations from business groups digesting today's state budget – the first from Treasurer Rita Saffioti.
