Residential property land sales have been climbing over the last few months, with the June quarter recording a huge 8.4 per cent increase in land sales alone. As the number of residential properties beginning construction across the nation grows, now could be a great time to consider investing in commercial property in Darwin.
The Housing Industry Association (HIA) and RP Data Residential Land Report offers some insight into the growth of the national market, with HIA chief economist Harley Dale announcing the 2013/14 fiscal year saw residential land sales grow at a rate of 10 per cent. He went on to sat that this couled signal further increases over the comiung year.
"Both capital city and regional land markets experienced higher turnover during the June 2014 quarter. Growth was stronger in the aggregate regional land markets – up 13 per cent compared to a 5.5 per cent lift for Australia's six state capitals," said Mr Dale in a 23 October statement.
As the residential construction cycle continues to strengthen nationwide, the influence on local economies and rising commercial opportunities could offer a great chance for investors to make moves into their local small business market in the future.