Earlier this month, Reserve Bank of Australia governor Glenn Stevens said that it was imperative that first home buyers not be locked out of the nation's property market. Following this, Master Builders Australia chief executive officer Wilhelm Harnisch said backed these calls, stating the nation has an obligation to ensure that homeownership is a potential goal for all buyers.
This could be brilliant news for first time buyers interested in purchasing Bentleigh real estate, following the explosive growth in property values seen last year.
"To meet this responsibility we must build an adequate supply of new housing to exert downward pressure on house prices and to ensure that the intergenerational home ownership gap does not widen for first home buyers," said Mr Harnisch in a 16 February statement.
With increasing construction rates being outlined across the country according to the Housing Industry Association, this could be great news for buyers looking to make their own moves into the property market.
If you're hoping to buy or sell property in Bentleigh, be sure to get in touch with Matt Hurlston at Ray White Carnegie. With an in-depth knowledge of the local community, he can help you achieve your real estate goals.