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Reduced new property sales highlight continued strength of new home building

By Ben Faulks

The nation's growing new home market is no news for most people, with Belconnen real estate experiencing the rising strength of the local property market over the last few months. In fact, the latest release from the Housing Industry Association (HIA) has highlighted that while these trends may be slowing down, the sector has reached a sustainable level. 

Heading into the future, new home building activity is expected to remain strong. HIA Chief Economist Harley Dale said new home sales have dropped by 5.7 per cent over the month to July 2014, alongside a 3.5 per cent decline for the three months ending July. 

"In terms of forward indications, new home sales and building approvals may have peaked for the cycle, but their levels remain historically elevated," said Mr Dale in a 28 August statement. 

"This situation, together with longer lag times and a repositioning of geographical momentum at this stage of the current cycle, combine to mean that 2014/15 will be another healthy year for new home construction." 

This could present a wonderful opportunity for anyone interested in taking their future into their own hands and begin pursuing the construction of their own dream home today. 

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