One trend that many real estate agents in Bentleigh East are likely to have seen over recent months is a rise in demand for new homes. That’s because the April New Home Sales Report from the Housing Industry Association (HIA) shows that while other parts of the country have struggled, demand for brand new properties in Victoria has remained strong.
What the report shows
Over the course of the month, detached house sales marked a rise of 14.3 per cent across the state. On a national scale, a decline of 4.7 per cent was registered, cancelling out some of the strong gains made during the previous month.
Gil King, executive director for Victoria at the HIA, explained that it’s not by chance so many people are in search of new homes throughout the state.
“The strong demand for new detached housing in Victoria comes from very healthy population growth, with our share of Australia’s net overseas migration intake at a record high. Net interstate migration is also increasing,” he noted.
The HIA suggested that the peak in new home sales has now passed for most parts of the country, although the fall that’s now taking place is very limited. HIA economist Diwa Hopkins explained that housing construction is expected to rise over the course of this year, which will bring more properties to the market for anyone who does want to buy new.
Find your real estate agent in Bentleigh East
No matter what type of property you’re hoping to buy, it really does pay to have a real estate agent on your side. Matt Hurlston and the team at Ray White Carnegie are on hand to guide you through the process, every step of the way.
Make sure you get in touch to discuss your options and find out more about what is available.
