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Home Building Market Confidence

Home Building Market Confidence

May 15, 2023 Build & Construction Market

Addressing Fears and Concerns about Building a New Home in the Current Economic Climate

It is exciting and fulfilling to build a new house! It’s an opportunity to create a home that ideally reflects your preferences and demands. But given the state of the economy, some people might be hesitant to construct a new house. Concerns about construction delays and falling property values as a result of interest rate increases and trade shortages are particularly prevalent. In this article, we’ll examine these worries and fears and provide some guidance on how to proceed firmly.


First off, it’s critical to recognise that these worries and fears are not unwarranted. The building business is encountering difficulties due to the unpredictability of the current economic environment. However, it’s also crucial to keep in mind that the construction industry has survived economic turbulence in the past and will do so again.

Construction Delays

The possibility of construction delays is one of the main worries for those who are building a new house. Delays can be caused by a variety of things, such as problems with the supply chain and a lack of labour. It’s crucial to keep in mind though that delays are not always unavoidable. You may reduce the possibility of delays by hiring a reliable custom house builder. A good builder will be able to effectively oversee the building process and will have established relationships with suppliers and subcontractors.

Falling House Prices

We know that the likelihood of falling home values is another genuine concern. Although this is a legitimate worry, it is important to remember that various factors, such as supply and demand, interest rates, and economic growth, affect the price of real estate. Although the state of the economy is uncertain right now, it is important to note that Western Australia’s property values have been largely stable in recent years. Ultimately, it takes careful planning and management to construct a new home in the current economic scenario.

Here are some pointers to help you proceed confidently with your new home build:

  1. Collaborate with a dependable Custom Home Builder that has a history of completing high-calibre homes on schedule and under budget.
  2. Pick a style that fits both your needs and your budget. Choosing the largest and most extravagant design can be tempting, but it’s crucial to be honest with yourself about your financial situation. Be adaptable. Because the construction process might be unpredictable, it’s crucial to be ready to adjust as needed.
  3. Pay attention to the market. Even though it’s hard to anticipate the future, being up to date with real estate market trends can help you make decisions that are well-informed.

    Building a new home is a major investment, but it can also be one of the most rewarding experiences of your life. By working with a reputable builder, choosing a design that meets your needs and your budget, and staying lexible, it is possible you can move forward with confidence and create the home of your dreams in any environment.

    Contact us today for an honest discussion and free consultation about building your new Perth home with us on 9315 4233