Rising levels of dwelling commencement highlight real estate strength

By Nick Syrimi

Anyone sitting on the fence about purchasing or constructing their own property in Moil could be interested to hear the Housing Industry Association's (HIA) latest release. This recent report highlighted the strength of Australia's new home building market. This could be great news for anyone looking into taking out a home loan and pursuing their own real estate in the coming months. 

HIA Chief Economist Dr Harley Dale said this growing strength was doing wonders for the nation's wider economy and job creation markets –  a beneficial trickle down from the growth of the property market. 

"New dwelling commencements, the key metric for the sector, are forecast to hit over 184,000 in 2014, which would be the second highest level on record, before maintaining a historically high level next year," said Dr Dale in a 11 August statement. 

Over the entirety of 2014, new home dwelling commencements are expected to grow by 9.6 per cent, after rising by a huge 11.1 per cent in 2013. Renovation figures are also anticipated to increase, projected to grow by 3.8 per cent by the end of the year. 

This could present a wonderful time to consider moving into the local market and making your real estate dreams a reality. 

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