WA government concedes relief for the state's housing crisis is at least a year away

Ask John Carey what he’s doing to solve the housing crisis and you’ll open up a thesaurus of all the ways you can say ‘everything’.The WA Housing Minister frequently insists all the levers at his disposal are being pulled, every policy idea being considered and almost nothing is off the table.The rental vacancy rate remains around 0.7 per cent — when it should be 2 to 3 per cent — and the median time to sell a home continues to drop and is now at a low of eight days, according to REIWA.

“Housing supply has become disconnected with demand, and that’s really at the root of the problem,” Bankwest Curtin Economic Centre director Alan Duncan explained.At the core is Western Australia’s boom and bust cycle, fuelled largely by the mining industry.All of those people need somewhere to live, so there’s also a housing construction boom – normally made possible by labourers being imported from overseas.

The minister also said he was keeping an eye on the future, with a pipeline of social housing work ready to keep the construction industry from flatlining and repeating the cycle we’re in again.The minister insists he’s not put off by the task ahead, saying he’s motivated by the 2,000 households he’s given new social homes to in recent years, and is always looking for the next step to take.

Carey has plenty of skin in the game, with an election in under a year and little relief to offer people in the mean time.

Source: Real Estate Daily Report (realestatedailyreport.net)

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