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Victoria comes out on top for housing finance

By Matt Hurlston

Are you looking to get onto the housing ladder, but don’t quite know where to begin? Victoria, and more specifically real estate in Bentleigh, could be a good place to start, especially in light of the latest CommSec State of the State report.

The study is released on a quarterly basis and weighs up the economic performance of each state and territory. The bank then produces a set of rankings, with the June quarter results putting Victoria firmly in second place.

One indicator was a real standout this time around, as chief economist at CommSec Craig James explained. He revealed that the region’s main strength was housing finance – and it’s easy to see why.

“Victoria also still has a strong grip on the second ranking overall and has been able to narrow the gap with NSW in the past quarter,” he commented.

“Victoria has solid population growth which is why housing finance is the strongest in the nation.”

Australian Bureau of Statistics (ABS) data from September 2015 shows that the Victorian population increased 1.7 per cent from the previous year. This made it the strongest increase in the country, and notably higher than the national average of 1.3 per cent.

At the other end of the spectrum was the Northern Territory, where the ABS revealed that growth of just 0.3 per cent was seen compared to the previous year. Most of the nation’s population rise was a result of net overseas migration rather than natural increase.

Find yourself a real estate agent in Bentleigh

As housing finance is so strong here in Victoria, there’s every reason to take on the expertise of a real estate agent in Bentleigh. Matt Hurlston and the team at Ray White Carnegie can help you find a home that fits within your budget and gets you onto the ladder.

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