New home lending in Australia grew during the early months of 2014, which could illustrate a great opportunity for construction of Belconnen real estate in the near future. If you're interested in creating your dream family home, or or building a number of Belconnen rentals, this could be your chance.
According to data released by the Australian Bureau of Statistics earlier this week (April 9), new home lending activity grew during February for owner occupiers across the country – rising by 0.8 per cent over the month. Furthermore, over the three months ending February, the nation saw this figure rise by 7.2 per cent – highlighting the market growth of Australia's real estate market.
Housing Industry Association Economist Diwa Hopkins said the strong growth of these figures correlates with increases seen in both dwelling approvals and new home sales, reflecting the overall rise of the nation's construction industry over the early months of 2014.
"Another strong result was the value of lending to investors for the purpose of constructing new dwellings for rent or resale. In the three months to February 2014, the value of this form of finance increased by 13.2 per cent," said Ms Hopkins in an April 9 statement.