Anyone looking to design and build their dream home in Belconnen's real estate market should take advantage of the current construction environment, with the latest release from the Master Builder Australia (MBA) highlighting a 14.5 per cent increase in dwelling approvals over the year. In fact, August alone saw three per cent increase – which could be great news for anyone eyeing up the local market.
MBA chief economist Peter Jones said the jump in approvals was encouraging for not only boosting the available housing stock across the nation, but also helping to increase the affordability of property ownership in the coming months.
"Removing the shackles of poor land release strategies, inefficient developer charges/ infrastructure levies, and poor planning and development programs would allow residential builders to better meet demand, thereby limiting the potential for steep price increases," said Mr Jones in a 2 October statement.
Furthermore, over the 12 months to August, approvals rose to 197,571, reaching a record high for yearly approval rates, according to the Housing Industry Association.
As more approvals are encouraged across the nation, now could be a brilliant time to get in touch with a local real estate agent to begin discussing the possibilities of building your own Belconnen home in the near future.