Now could be a great time for first home buyers to consider purchasing Belconnen real estate, with the latest release from the Housing Industry Association (HIA) highlighting the growth of new home sales over the first quarter of 2014.
HIA Economist Diwa Hopkins said the rise for the first quarter of the year was 5.8 per cent. This brings it to 23.4 per cent higher than the same period 12 months earlier, illustrating the perpetual growth of the market occurring at the moment.
"It's encouraging to see that during the March 2014 quarter all of the surveyed states recorded increases in detached house sales," said Ms Hopkins an a May 2 statement. This could be great news for any first time buyers looking into securing the Australian Capital Territory government's First Home Owner Grant in the coming months.
From September 1 2013 this was increased from $7,000 up to $12,500, which could be a decent chunk of your first deposit for Belconnen real estate. One of the restrictions is that the property cannot be valued at more than $750,000, but could substantially aid your first home goals.