Australia's property market is beginning to enter into an era of stability, with the number of housing approvals being beginning to decline nationwide. This could be great news for potential sellers of Belconnen real estate who are looking to secure a decent return on their property. As the approval rate slows and people demand property, the potential for bigger returns rises.
Housing Industry Association Senior Economist Shane Garrett said the slow drop off in approvals reflects the market stabilising, with the housing building peak having been reached.
"With interest rates at historic lows, the window of opportunity remains open for the supply of affordable housing to be significantly augmented in the near future. A greater push on this front by policymakers could ensure that the housing prospects for this generation of Australians are greatly enhanced," said Mr Garrett in a July 31 statement.
With construction beginning to slow down across the nation, now could be a great time to consider entering into the real estate market and securing a great deal. Whether you're looking into buying or selling, there are likely to be a number of good opportunities across the property landscape.