Land sales have hit their highest point since the mining construction boom in 2009 according to recent data collected from the Real Estate Institute of Western Australia (REIWA).
The strong land sales helped drive the overall property market above 1000 sales which is the first time they have reached over this mark since 2013.
“Land sales were the standout for the week, which saw the highest-level reiwa.com data since August 2009 and can be attributed to the various government homebuilding schemes announced earlier in June,” said REIWA President Damian Collins.
The Federal and State Government stimulus, which entitles qualified buyers up to $70,0000 in benefits when building a new home or purchasing an apartment, has helped undecided prospective house and land buyers to make their decision a lot faster.
This is a brief summary of the article ‘Lot sales reminiscent of boom times’ by Jack McGinn | The West Australian – New Homes | Monday 6th July 2020.