Property Industry Confidence Increases

Now could the best time to purchase real estate in Carnegie as industry confidence influences future price increases.

Confidence in the Australian real estate sector rose by eight points for the March quarter, according to the Property Council-ANZ Property Industry Confidence Index released on January 16.

Residential Development Council Executive Director Caryn Kakas expressed this is positive news for Australia's real estate owners.

"Home owners will benefit from rising house prices with increased financial stability for families and a bigger nest egg for retirees," she said.

To take advantage of the increasing confidence, those considering a Carnegie real estate purchase are encouraged to act quickly as price rises could be just around the corner.

Leaping forward by eight points, Victoria lead the growth in property confidence along with Queensland (10 point increase) and New South Wales (five point growth).

"A buoyant property sector is leading the broader economy out of the gloom that has prevailed in recent years bolstered by low interest rates and solid investor demand for both residential and commercial property," ANZ Chief Economist Warren Hogan said.

For more information on the future of the property industry or to set your real estate purchase intentions in motion, contact Matthew Hurlston at Ray White Carnegie today.