Construction is good for the economy, that's pretty much a given fact. The latest data seems to confirm this belief, showing that increasing building work has improved job prospects across many parts of Australia, while bringing more real estate to Belconnen.
Taking a closer look at March quarter data from the Australian Bureau of Statistics (ABS), the Property Council indicated that there's no shortage of reasons to encourage greater construction of Belconnen real estate. In fact, its chief of policy and housing Glenn Byres described it as "one of the few bright spots of the economy".
The ABS figures show that between the March quarters of 2015 and 2016, the total value of building work increased 3.8 per cent. For residential construction, this increase stood at 8.7 per cent.
There are many ways in which the current surge in building activity is giving people access to the jobs they need.
"Every home built creates 40 jobs – tradies, electricians, plumbers and other jobs dependent on strong housing markets," explained Mr Byres.
"We need to keep a strong and sustained pipeline of residential construction in place to both close the affordability gap and keep churning out jobs."
The Property Council urged against any drastic changes in policy that could put further growth in jeopardy. Australia's economy needs all the support it can get at the moment, so it makes sense to put whatever strategies are necessary in place to make it work.
Whether you're looking for a new-build home or have your eye on moving into Belconnen rentals, we're here to help. With plenty of years' experience in the local market, we can point you in the right direction and help you find a property that's right for you.