WA government considers building factory to churn out housing components for medium and high-density housing
Carey said the facility could be operational by 2027.
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The announcement comes after the latest figures from property analyst Cotality (formerly CoreLogic) showed median house prices in 19 more Perth suburbs in September were $1 million.
New figures have revealed there are now 129 suburbs where the average price is above $1 million.
This month’s new entrants included Bayswater, Maylands, Noranda, Landsdale and Padbury.
The number of regional areas over $1 million doubled from six to 12, with Yallingup averaging over $2 million.
Cotality economist Kaytlin Ezzy said as more suburbs crossed the million-dollar threshold, concerns about affordability and equity would become even more intense, particularly for first home buyers.
“A household with a median income of $106,000 and a 20 percent deposit would need to allocate more than 50 percent of its pre-tax earnings toward a loan on a million-dollar property,” he said.
“While the prevalence of seven-figure property values shows that many people still have access to finance, the average age of first homebuyers continues to rise, while homeownership rates have fallen steadily, particularly among younger and lower-income households whose earnings are struggling to keep up with rising house prices.”
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