Eyeing up the current property market across Australia could be a great move for investors interested in portfolio expansion, with the number of financial commitments being seen across the nation increasing significantly. In fact, new figures from the Australian Bureau of Statistics has highlighted the growth in investment funding, which could be great news for those looking to purchase Belconnen real estate.
Master Builders Australia Chief Economist Peter Jones said the increases across the nation would be good news for the housing industry as whole, as more projects will ultimately lead to a higher housing supply – something desperately needed in most regions.
"Investor housing commitments for construction of new dwellings rose strongly to be up by nearly 40 per cent in the three months to August compared to the same period last year," said Mr Jones in a 10 October statement.
"Over the year, owner-occupier commitments for construction of dwellings were up by 12.6 per cent and up 0.3 per cent for purchase of new dwellings. Builders will be encouraged by the combined rise of 8.3 per cent finance commitments for "new" dwellings."
With the strengthening finance market, now could be a great time to consider making a move into the local property market yourself. Get in touch with a real estate expert and start investigating the market today.