WA's Apartment Market Lags Behind Eastern Counterparts

The appetency for apartment living in Western Australia (WA) is trailing when paralleled with the demand observed within the eastern states of Australia, according to a recent statement made by a prominent national economist. This distinction highlights the variation in urban living choices and investment patterns across the country.

Uneven Growth Across Regions

Despite an overall increase in urban densification and the rise of apartment developments as a viable living option, WA's progress in this domain has been notably slower. While cities like Sydney and Melbourne have seen a surge in high-density residential construction, Western Australia's expansion into the apartment sector is characterized as 'a slow burn'.

Factors Influencing the Market

Several factors explain WA's lag in apartment growth compared to its eastern counterparts. Market dynamics, economic variables specific to the region, and divergent population growth rates contribute to the unique real estate development patterns. Consequently, these factors impact the demand for different types of housing, including apartments.

apartments, economist, WA