Craig

So what this realistically means is that the number quoted of 210,000 homes handing over will actually be closer to about 120,000.

The other thing is that post-Trump tariffs, we're seeing delays and difficulties getting materials like steel and concrete.

So this construction cost inflation will also further push handovers past their actual date that they're supposed to come over.

Good morning, Craig.

Thanks for having me.

Yeah, so we've seen a bit of a shift in the Perth market with really strong results in suburbs that we've never seen hit those prices before.

I guess we're seeing a lot of suburb records in a lot of these areas and it's purely based on the property itself.

So people are putting more emphasis into the actual property rather than the area.

Generally, they're coming in from looking at more expensive close by suburbs and considering, well, this property ticks all our boxes.

It's not an area that I've previously considered, but certainly prefer this and it's the right price point too.

Absolutely, yeah.

So Trigg's always been a sort of a higher-level price suburb, coastal, but we saw a recent sort of sale there for $6 million yesterday.

And that wasn't even oceanfront.

So people are paying premium for a good quality house and somewhere that's close to the beach with ocean glimpses.

Yes, correct.

So it has a twofold effect.

Some people trying to buy in the area are getting priced out, but then others from joining suburbs with more budget coming in and pushing up those prices.

The good thing for the area, though, I think, is seeing some bigger price points gives people more confidence in investing in the area.

So, you know, seeing quite a big sale in a particular area and then people saying, well, you know, I might build a house here because there is now evidence of a higher price sale, which also pushes up land prices as well, of course.

I put one of those social media apps on my phone to tell me how much social media I am consuming every day.