The Housing Industry Forecasting Group (HIFG) has reviewed and updated its most recent forecasts of dwelling commencements in Western Australia. The previous forecasts were reported in December 2021.
WA dwelling commencements are anticipated to dip in 2022-23.
The Group revised its 2021-22 dwelling commencement forecast to approximately 19,000, down from 25,000 reported in December 2021 and a decrease of 18.6 per cent when compared to actuals for 2020-21. The revision downwards was driven by prolonged build times, continued shortages of skilled labour and building materials, extended border controls impacting population growth and recent major global upheaval.
It is anticipated dwelling commencements will remain below the long-term average throughout 2022-23 (at 17,000-18,000), before a modest improvement in 2023-24 to 17,000-19,000.
Read August 2022 | Forecasting Dwelling Commencements in WA here.