Purchasing Belconnen real estate may be within your grasp in the near future, as recent data from the Australian Bureau of Statistics shows an increase in new home lending occurring across the nation. When you're approaching the market and thinking about taking out a home loan, this information will be encouraging for your decision.
Housing Industry Association economist Diwa Hopkins said the value for both owner occupier and investor lending rose during the March quarter, increasing by 3.6 per cent and 4.9 per cent, respectively.
"Today's data also show that capital city residential property prices increased by 1.7 per cent during the first quarter of 2014, to be 10.9 per cent higher than a year ago," said Ms Hopkins in a 13 May statement.
"Following a period of fairly strong increases late last year, prices appear to be growing within a more sustainable range. Combined with the current low interest rate environment, these developments provide favourable conditions for the residential construction sector."
With the market expected to remain strong heading into the coming months, now is the right time to get in contact with a real estate agent to begin searching for the perfect home for you and your family.