According to the latest findings from the Household, Income and Labour Dynamics (HILDA) survey, Western Australia and Queensland were the only two states in Australia that didn’t experience a decline in home ownership between 2002 and 2014. This seems to indicate that the great Australian dream of owning a home is still alive and well on Australia’s West Coast. The biggest declines in home ownership were felt in NSW and Victoria where home ownership rates fell by 4.3% and 7.8% respectively. This shows the vast difference in the way various property markets in Australia behave.

Real Estate Institute of WA (REIWA) President Hayden Groves made the following observation, “In contrast to Victoria and NSW, home ownership is not considered unattainable in WA. In fact, since the slowdown in the mining sector we’ve actually seen housing affordability improve in Western Australia. Combined with record low interest rates and plenty of choice available, it’s a smart time for West Aussie first home buyers to take advantage of local market conditions and achieve their home ownership dream.”

For a change of pace and something we think the world needs more of these days, watch this YouTube viral sensation shared by 9 News Perth in July last year but still trending. The video shows what happened one cold winter’s morning on a regular commuter train in Perth packed with people on their way to work for the start of the working week. Nice to see how a Perth based international social movement is demonstrating how simple it can be to uplift each other when we come together through a positive shared experience. Nothing to do with real estate, but we think it’s worth watching, even if only to put a smile on your face.