Rising Home Approvals Highlight Strengthening Real Estate Market
The Broadbeach real estate market could be a great place to consider purchasing property in the near future – but have you ever considered building? Now could be a great time to give this serious thought, as housing approvals increased across the nation during February.
According to a recent release from the Housing Industry Association (HIA), when compared with the same time last year, housing approvals are over 20 per cent higher. This could highlight a great opportunity to secure your dream home, especially with the official cash rate keeping interest rates low.
HIA Senior Economist Shane Garrett said the overall picture for the property sector in Australia was one of increasing strength.
"A continuing strong volume of new supply will flow through to help alleviate dwelling prices for the existing stock. Strong residential building activity is a good thing for affordability," said Mr Garrett in an April 2 statement.
For example, detached home approvals rose by 7.3 per cent over the three months to February, with this growth expected to last well into the rest of the year. Now could be the perfect time to seriously consider purchasing land and building your very own Gold Coast property in over the coming year.