IMPROVEMENTS in the mining industry indicate a property market upswing in 12-18 months according to the Urban Development Institute (UDIA WA).
UDIA WA tracked the impact of mining exploration expenditure on dwelling commencement figures and found a clear link, particularly since 2007.
“There has been a distinct two-year lag between an uplift in mineral exploration expenditure and a corresponding uplift in dwelling commencement figures in WA,” chief executive Tanya Steinbeck said.
“Therefore, based on the current mineral exploration expenditure figures, UDIA estimates the next market uplift will occur in the next 12 to 18 months.
“Based on our broader market cycles research, we can also expect that the next peak in dwelling commencements across the state to occur between mid-2020 and 2022.”
Source: Community News
Read the full article here:
