Already a subscriber?Western Australia is the only Australian state where housing supply is more or less keeping pace with demand, according to a new benchmarking tool launched by the Urban Development Institute.
The index’s baseline measurement is 100 points, which reflects the average performance achieved across the four quarters of the 2019 financial year.A reading below 100 and sharp downward movement in index readings imply demand is outweighing supply, A score “well below” 100 indicates the housing market is also being weighed down by high costs.
A 40 per cent index weighting is given to both supply and demand factors, while 20 per cent is assigned to finance and construction costs. “It’s a unique composite index of demand, supply and cost components. Other indices don’t bring in the full gamut ,” he said. Queensland is returning to a stronger level of performance with a reading of 98. The smaller housing markets of Tasmania and the NT are performing badly.
Source: Real Estate Daily Report (realestatedailyreport.net)
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