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Published on November 2nd, 2012

HIFG report shows optimism in real estate improving in WA

The housing minister for Western Australia, Terry Redman launched the Housing Industry Forecasting Group's (HIFG) October report on Wednesday (October 31), which pointed out that consumer confidence and the housing sector are showing signs of recovery.

The HIFG was brought in four years ago as a way of providing the state government with a barometer of the housing market and its activity to allow them to make decisions which can aid the sector.

Redman said the HIFG was crucial to local and state government as it provides data on construction, rental market, property market and housing affordability.

"I am pleased to see in the October report that the HIFG is expecting a 20 per cent increase in new house construction in 2012-13.

"The Government’s Affordable Housing Strategy aims to provide 20,000 housing opportunities by 2020 – something we are well on the way to achieving, delivering more than 6,000 already," he said.

Currently the Barnett government claims to be responsible for ten per cent of all newly constructed properties, which provides support to not only the construction industry, but the real estate sector as well.

It comes as Brisbane host the seventh annual National Housing Conference, which looks to provide a platform for industry experts to share their expertise and debate where the property sector is headed and how to better improve it.

Dr Bruce Flegg, the minister for housing and public works in Queensland said the need for social housing assistance in the sunshine state has increased by nearly 50 per cent in three years as people do it tough.

One of the major issues surrounding public housing is tenants who don't respect the buildings in which they live. In order to save taxpayers' money, Flegg has proposed a system whereby after three strikes in a 12 month period which include noisy events or even vandalism, they'd be evicted.


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