Job vacancies may help land sales in Yanchep and Two Rocks

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Coastal land is where residents most want to live for lifestyle reasons, according to Capricorn Beach and Atlantis Beach estate project director Jarrod Rendell.

AFTER one of the worst years on record WA homebuyers are perhaps putting their faith in an increase in private job vacancies as a reason to build a house in Yanchep or Two Rocks.

Late last month Capricorn Beach and Atlantis Beach estate project director Jarrod Rendell said the improving jobs market in Western Australia would have a positive impact on land sales in Perth.

On July 25 Mr Rendell said the latest ABS job vacancy figures in Western Australia were at their highest level in nearly four years.

Mr Rendell said private sector job vacancies in Western Australia topped 22,200 during May 2018 which was the highest monthly figure since November 2014.

He said job vacancies in Western Australia had been in an upward trajectory since mid-2017 and had accelerated during 2018, with monthly vacancies consistently more than 20,000 a month.

Housing Industry Australia statistics show building approvals fell by 9.2 per cent in WA in 2017-18.

But Housing Industry Australia chief economist Tim Reardon said new dwelling approvals in WA increased by 4.8per cent in June.

Yanchep News Online has not been given any data to verify how many building approvals during this time have been in Yanchep or Two Rocks.

Mr Rendell said thousands of more jobs were expected to be created in the resources sector over the next three years as WA’s big iron ore miners are gearing up to spend more than $25 billion to extend the life of their Pilbara iron ore operations.

“In addition, thousands of new jobs will also be created in the emerging lithium mining sector as well as the expansion of the massive Gorgon LNG project,’’ he said.

“These new projects are expected to result in a demand for skilled workers from outside the state that will result in a major boost to Western Australia’s population.

“This jobs bonanza will see a rebound in land sales throughout the Perth metropolitan area as the demand for housing increases due to rising consumer confidence and population growth.

“In particular, we expect the demand for coastal land will surge as this is traditionally the area where Perth residents most want to live for lifestyle reasons.

“For astute property buyers, now is the time to purchase a coastal lot while there is still plentiful choice and affordable pricing.’’

Mr Reardon said the WA market had seen growth in recent months and hopefully this was sign it had passed the downturn.