The latest new land sales statistics released by UDIA WA highlight an encouraging trend in Perth’s new land market, with more first homebuyers achieving homeownership.

According to the Urban Development Index for the June quarter, first homebuyers represented 52 per cent of all new land sales, while owner-occupiers accounted for a further 36 per cent. Investors made up 12 per cent of the new land market in Greater Perth.

This is a significant shift from a year ago, when first homebuyers accounted for 30 per cent of new land sales and investors represented 29 per cent.

The data shows Perth remains one of Australia’s most accessible capital city housing markets, despite recent price growth. It also reflects the impact of government initiatives such as the Australian Government 5% Deposit Scheme and the Help to Buy Scheme, which are helping more aspiring homeowners overcome barriers to entering the market.

Strong first homebuyer participation is positive news as housing affordability challenges dominate national debate. Homeownership remains a cornerstone of financial security, and it is pleasing to see many Western Australians still taking that important step.

However, price growth across Greater Perth’s new land markets continues. The average price of new land increased by 3.5 per cent during the June quarter to $438,882, while sales volumes declined by 9.2 per cent to 2254 lots.

Importantly, this reduction in sales is not being driven by weaker demand. Developers continue to report strong buyer interest and waiting lists for new land releases across Perth.

The reality is that supply constraints continue to limit the market’s capacity to respond to sustained demand, which is impacting sales.

This has been ongoing as Perth’s population growth, economic performance and relative affordability continue to attract residents and support housing demand. Without a significant increase in housing supply, affordability gains can quickly be eroded as competition for available land intensifies.

While first homebuyers deserve support, investors also play a critical role in delivering rental housing. With vacancy rates tight, maintaining healthy investment is essential to ensuring housing choice for Western Australians who rent.

The message from the June quarter data is that demand for housing in WA remains strong, confidence in homeownership remains resilient and first homebuyers are seizing available opportunities.

The challenge now is ensuring we can deliver enough new housing to meet that demand and support all segments of the market – from first homebuyers and upgraders to investors who help keep our rental market functioning.