Research by the Housing Industry Association (HIA) reveals 2015 will see significant growth in the new home building sector, particularly in the early months.
The HIA’s New Home Sales Report, focussing on Australia’s largest volume builders, showed increases in both new home sales and residential building approvals - the key indicators of new housing construction activity during last year’s December quarter.
“This is a clear indication that actual residential construction activity will rise in the current early months of 2015, which is good news for the broader domestic economy in addition to the housing sector," says HIA Economist Diwa Hopkins.
Hopkins said that monthly sales volumes were consistently strong in 2014, “following the recovery that characterised 2013,” with the total number of sales for the year 14.4% higher than in 2013.
“A key change in conditions to the residential construction sector in 2015 is the February cut to the official cash rate to a new historic low,” Hopkins said.
“However, it should be noted that this cut was made in the context of a mooted tightening of lending conditions in parts of the housing market.”
In December 2014, detached house sales grew by 2.8 per cent in Western Australia and 2.6 per cent in Queensland. In South Australia, Victoria and New South Wales, the percentages fell by 5.3, 2.6 and 1.4, respectively.
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out