Tim Reardon

WA dwelling approvals are 9 per cent lower than 12 months ago, although they have improved moderately in the past three months.

The Reserve Bank of Australia has cut the cash rate to a new record low of 0.5 per cent as it acts to soften the economic impact of the coronavirus, with Australia's "big four" banks each announcing they would pass on the rate cut in full.

The number of homes being built in Western Australia has fallen by 25.2 per cent since coronavirus-related restrictions were implemented in late March, according to Housing Industry Association (WA), which has predicted the state will be the first to experience a homebuilding downturn.

Housing finance figures released today revealed lending for the construction of a new home across Australia hit the highest level recorded in two years, according to the Housing Industry Association.

The Housing Industry Association’s latest survey has named BGC Housing Group as the largest builder of Western Australian homes, followed by ABN Group.

Banks will pass on as much relief to customers as they can should the Reserve Bank board cut its key interest rates on Tuesday, the peak industry body says.

The number of loans for home construction nationwide set a new record during September, according to the latest Australian Bureau of Statistics data.

New home sales fell by 1.3 per cent in October, but continued to perform stronger when compared with the same time last year.

The Housing Industry Association has forecast a record near-130,000 detached home starts for Australia in 2021, with a steep decline in numbers predicted early next year.

Australia’s homebuilding sector smashed another record last month, with detached building approvals in February reaching their highest level since 1983.

Dale Alcock’s ABN Group has grown to become Australia’s second largest residential housing builder while BGC Housing Group has maintained its ranking as WA’s biggest.

HIA says WA has experienced a 30 per cent rise in construction prices in the past 18 months, but the longer-term outlook is positive.

A recent report has confirmed the construction sector across Australia is overheating due to labour shortages and construction cost increases with no signs of slowing down.

Michael McGowan’s journey to the top of WA’s peak housing body featured a serendipitous alignment of circumstances.

New forecasts from a key housing body signal a slowdown in home building as interest rates and construction costs take a toll.

Housing Industry Association data shows that new housing sales are increasing in WA, but skills shortages persist.

It will take until the end of this decade for WA to have the capacity to build the volume of houses it needs, HIA says.

The state’s dwelling prices must catch up to the rest of Australia to incentivise more supply, a panel of experts says.

The state has the highest increase in dwelling approvals of any state, as the nation bounces back from decade-low levels of home building.

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.

The Reserve Bank of Australia has cut the cash rate for the first time since November 2020, but governor Michele Bullock has warned the inflation fight isn’t over.