Creating more homes throughout the country could be just what Australia needs not only for the security of its economy, but also to encourage first-time buyers onto the property ladder.
This is according to the Housing Industry Association (HIA), which recently released its Autumn 2015 National Outlook. The report suggested that more needs to be done to support the building sector and prevent buyers being priced out of the market.
One of the biggest problems at the moment is that taxation and regulations are making it difficult for people to get their foot onto the ladder, said HIA Chief Economist Harley Dale. While construction is thriving at the moment, policy conditions aren't quite right to make sure this continues.
The challenge now is to make sure Belconnen property and real estate in other parts of the country is in plentiful supply, which in turn will help to bring down prices.
"A lack of focus on housing policy reform is shutting Australians out of their new home at a time when they could borrow responsibly at attractive interest rates and be part of the great Australian dream," noted Mr Dale.
For help making your first steps into the local market, make sure you speak to the team at Ray White Belconnen.