Best time to build is now

Housing Minister and Treasurer Troy Buswell today launched the Build Now campaign, a joint effort by Western Australia's peak home building groups to increase new home sales by increasing consumer confidence.

Mr Buswell launched the Housing Industry Association (HIA) and the Master Builders Association (MBA) campaign at Burns Beach Estate in Perth's northern suburbs.

He said the combination of several factors meant that building a new home was an appealing option now more than ever.

"There's never been a better time to build a new home," he said.

"Historically low housing interest rates, competitive deals among builders, faster building times, and WA's strong economy and employment means building now is a good choice for home buyers.

The Minister said many builders had been affected by clients postponing new home construction because of the economic downturn.

"There is a natural instinct to sit back and wait for the good times to return, yet the indicators couldn't be better for building a new home," he said.

"The economic downturn is showing signs of easing and the housing industry in WA can play a significant part in the recovery."

He congratulated the HIA and the MBA for coming together to spearhead the campaign.

"What impresses me about the Build Now campaign is that the industry is taking responsibility for its own future, with the HIA and MBA along with 30 major builders and suppliers, funding the awareness campaign."

Minister Buswell's support for the Build Now campaign follows the announcement in the Liberal-National 2009-10 State Budget of $23.8billion in capital works investment, including a record $8.3billion investment in public infrastructure in the coming year.

Mr Buswell recently announced the introduction of legislation into State Parliament this year to allow home owners to pay stamp duty at the time of settlement rather than beforehand.

This followed recent changes to allow developers to pay land tax and Metropolitan Region Improvement Tax on the lower undeveloped (or 'englobo') value of land holdings, rather than the full subdivided value of lots, for one year after the creation of the lots.

"While potential home owners consider their options in the current market, this Government is doing what it can to assist through strategic investment and a targeted program of red-tape reduction," Mr Buswell said.

Housing Industry Association Executive Director John Dastlik said that many potential home building customers had been influenced by negativity from public commentators during the early stages of the downturn.

"They were also influenced by the conditions created during the boom when it was difficult to find a builder and build times were longer," Mr Dastlik said.

"That situation has changed and what we're saying is building now makes economic sense.  There will never be a better time to build a new home."

Master Builders Association director of housing, Gavan Forster, said he was pleased the campaign was initiated by the home building industry.

"This campaign shows that the home building industry is thinking creatively as it seeks to help the State maintain a strong economy," Mr Forster said.

For more information visit http://www.buildtoday.com.au or contact your preferred HIA or MBA builder.