Detached home sales have led the nation's real estate growth during February, with the Housing Industry Association (HIA) releasing statistics highlighting the national growth of new home sales across the country.
This could be great news for anyone interested in selling their Belconnen real estate in the coming months. HIA Chief Economist Dr Harley Dale said detached house sales grew by 6.9 per cent during February, which led to a national increase of 4.6 per cent to the total seasonally adjusted number of new home sales over the same period.
"Both sales and building approvals for detached housing are signalling faster momentum ahead for this component of new dwelling construction, compared to what was evident in the first phase of the recovery," said Dr Dale in a March 31 statement.
He also mentioned that it was good to see this growth begin to move into other states, after being contained mostly in New South Wales and Western Australia during the earlier part of the year.
"This signal suggests more balanced growth ahead in the composition of new home building and adds a further positive dimension to the recovery for many of Australia's manufacturers and suppliers," said Dr Dale.