Karratha property on the mend
As we near the end of the first month of 2019, it is positive to see the number of building applications within the city has remained steady over the past few months.
Last year, the City received and approved three building applications for houses — two in September and one in December.
This is triple the number of housing approvals issued in 2017, which was a single permit issued in March.
The two permits for houses in September 2018 were the first building permits the City had issued for houses for 18 months.
This is very encouraging news because it shows that confidence is returning to our property market and we are on the road to recovery after a lengthy period of downturn.
We were expecting to see signs of improvement in the local property market after billions of dollars of investment were committed to projects in our region.
These projects are expected to create thousands of jobs, support population growth and improve demand for housing.
Some of the projects and expansions in the pipeline (one quite literally) are potential game-changers for Karratha.
Plus it would seem that more property owners are choosing to renovate, with permits for alterations and additions increasing from 22 in 2017 to 32 in 2018.
It’s very promising to see indications that the property market is finding its feet again.
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