The home building industry is undergoing a period of recovery, which may help place downward pressure on house prices. Such news will be welcomed by first home buyers interested in real estate in Carnegie and surrounding suburbs such as Oakleigh and Bentleigh East.
The Housing Industry Association (HIA) has commented on growth in dwelling commencements across the country, with particularly strong results from Victoria, in an April 16 statement.
Dwelling commences soared by 8.2 per cent in seasonally adjusted terms between the the third and final quarters of 2013.
"The new home building industry rounded out 2013 on a strong note," explained HIA Economist Geordan Murray.
"The most notable contributor to the strong growth in dwelling commencements in the December quarter was Victoria, where commencement numbers jumped 11.3 per cent in the quarter owing to a 33 per cent jump in multi-unit commencements," Mr Murray noted.
The strength in Victoria could be related to the keen interest in Melbourne property, which has been performing well for both homeowners and investors.
Those looking to buy new properties or sell their existing real estate in Bentleigh may wish to get in touch with an experienced professional such as Matt Hurlston at Ray White Carnegie.
As the days grow longer and the temperatures rise, summer brings a fresh opportunity to reset your living space. Preparing your apartment for the warmer months isn’t just about comfort—it’s about creating a bright, airy, and enjoyable environment that aligns with the season. Whether you’re looking to beat the heat, … Read more
Article Source : Click Here Nerida Conisbee – Chief Economist In property markets, price pressure usually flows like water – when buyers can’t afford their preferred suburb, they move to the next-best alternative nearby. This “spillover effect” drives faster price growth in adjacent, cheaper areas as displaced demand seeks similar … Read more