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.