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Record levels of new home building expected nationwide

By Ben Faulks

In the latest National Outlook report, Housing Industry Association chief economist Harley Dale pointed out that 2015 is expected to see a record number of new homes commenced across the country, which could be wonderful news for buyers interested in purchasing new Belconnen property in the coming months.

Residential construction has already become a strong part of the Australian economy, with these figures expected to remain strong for the foreseeable future. Mr Dale said it was important that the new housing cycle remains strong, in order to meet the supply requirements of the next few years – especially with the degree of population growth expected.

“National new home building activity is the star of the housing show with a record level of 195,936 new dwelling commencements forecast for 2014/15,” said Mr Dale in a 22 February statement.

“That result would represent growth of 7.7 per cent and cap a third year in a row where new home construction has headed higher. Imagine how weak the Australian economy would be without new housing and its economic multiplier benefits!”

Now could be a good time to start looking into property options across the local community to start getting an idea about your own real estate goals today.

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