What's a little global financial crisis (GFC) to the good old fashioned strength and resilience of the Australian market? The financial crisis, which caused waves of panic around the world nearly half a decade ago, now seems nothing more than a fly to swat away, if the numbers are to be believed.
How far we've come. After the GFC hit back in 2009, the number of new houses being started was 132,000 – an all-time historical low. Now, the Housing Industry Association has looked into its crystal ball and is predicting a whopping 180,000 new homes to get started this year, nationally. What makes this number so significant is that the record high of commencements was 187,000 in 1994. Not too far off as a target.
In good news for Gold Coast property, this increased forecast is being partly driven by the flurry activity in Queensland. The Sunshine State is expected to see an increase in commencements to approximately 38,000, up from around 32,000 last year. Given the Gold Coast's status as one of the fast-growing regions in Australia, this increased activity will pay off in the region.
If you're thinking about houses or apartments for sale on the Gold Coast, then Ray White can introduce you to some fantastic Broadbeach properties to take advantage of this upswing in construction.