Dwelling starts hit June quarter record
It's always good news when housing starts are announced. With more and more Australians popping up all over the country thanks to the country's outstanding population growth, in the future the country will need more houses to house all of these newly minted Aussies – and Gold Coast property is no different.
Just as well, then, that not only have there been plenty of dwelling starts announced, but they've actually reached a record June quarter total. The 47,558 new houses announced for the three-month period are an impressive 16 per cent increase on the same period last year.
Not only that, but this brings the total housing commencements for the year to a total of 181,904 – well above the average of 175,000 the Property Council of Australia says will be needed each year to accommodate Australia's growing population.
"The number of homes being built is finally catching up with population growth and this result will only improve affordability if we can introduce supply side efficiencies in land release, development assessment and tax reform," said executive director of the Residential Development Council in an October 15 statement.
It looks as if there might be a lot more apartments for sale on the Gold Coast appearing in the near future.