Demand for new real estate in Oakleigh may have started to slide, as national figures show sales of new-build homes fell across the country in February. The Housing Industry Association (HIA) released its New Home Sales Report, which confirmed a 5.3 per cent fall from the previous month.
However, the HIA's chief economist Harley Dale suggested there might not be any reason for immediate concern. He described the fall as "larger than desirable", but indicated there could be potential for a sales boost later in the year.
"New home sales are down, but far from out," commented Dr Dale.
"Over the three months to February 2016, the sale of detached houses increased by 1.8 per cent. The sale of multi-units nudged up by 0.8 per cent over the same period."
Earlier this year, Master Builders Australia revealed it had high hopes for residential construction in 2016. The group revealed that despite a fall in approvals towards the end of last year, there were strong signs this trend would be reversed over the next 12 months.
In the 12 months to November, there were a total of 231,489 dwelling approvals – that marks a rise of 15.5 per cent from the previous year. For these levels to be sustained, Master Builders indicated that policies need to be put in place to improve people's confidence in the property market.
Find your home with a real estate agent in Carnegie
It doesn't matter whether you have your sights set on a brand new property or something with a little more character – Matt Hurlston and his team are here to help.
He's an experienced real estate agent in Carnegie with a sound knowledge of the local area, which is just what you need to find a home that suits your individual needs. Get in touch with us today to discuss what you want from your next property.
The Bentleigh property market continues to demonstrate remarkable resilience, with strong buyer demand underpinning sales activity despite broader fluctuations across Melbourne’s real estate landscape. Known for its family-friendly atmosphere, excellent schools, vibrant shopping precinct, and convenient transport links, Bentleigh remains one of Melbourne’s most sought-after south-eastern suburbs. Located just 13 kilometres from Melbourne’s CBD, Bentleigh … […]
For many first-home buyers and young professionals, Bentleigh East has become one of Melbourne’s most desirable suburbs. Offering a blend of family-friendly living, excellent amenities, and strong long-term growth potential, it’s easy to see why demand continues to remain high. If you’re considering purchasing your first home in Bentleigh East, understanding the local market can … […]