New figures released by the Australian Bureau of Statistics have highlighted the strength of 2014's residential construction market. The new Building Activity data has provided some insight into the development of housing across the country over the year, which could be interesting for potential investors looking into real estate in Bentleigh.
New dwelling commencements rose by 17.9 per cent during 2014 over the previous year, which Property Council executive director residential Nick Proud said would potentially have an effect on future housing affordability throughout Australia.
"We are seeing strong increases in the value of new residential construction work nationally, which combined with an increase in new commencements to record high levels just shy of the 200,000 mark for the year, is great news for homebuyers," said Mr Proud in a 15 April statement.
"Over the 12 months to December 2014 construction started on 45,000 new homes on top of the 153,000 homes that have been built on average over each and every year of the preceding decade."
These figures could offer investors in Melbourne the chance to secure a slice of Bentleigh real estate in the near future. Be sure to get in touch with Matt Hurlston at Ray White Carnegie to begin searching the market for another great addition to your portfolio today.