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Rising new home dwelling commencement highlights market strength

By Ben Faulks

The strength of the housing market across Australia has been growing steadily for the last 12 months, with many people deciding to take advantage and secure themselves a slice of property. Now could be the perfect time for you to join the ranks and look into the Belconnen real estate market, as growing dwelling commencement rates highlight the continued climb of the national housing landscape. 

According to the latest National Outlook release from the Housing Industry Association (HIA), the new home building market across the country has been stimulating the overall property market, improving economic growth and improving employment. 

HIA Chief Economist Dr Harley Dale said the new home recovery was largely significant for the growth of the nation, with evidence of renovation investment further illustrating the national recovery from housing lows reached in 2013. 

"New dwelling commencements, the key metric for the sector, are forecast to hit over 184,000 in 2014, which would be the second highest level on record, before maintaining a historically high level next year," said Mr Dale in a 11 August statement. 

With the market strength moving from stride to stride, now could be a great time to consider your own real estate situation in Belconnen. 

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