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Strong residential construction expected to boost national housing sector

By Ben Faulks

Lending for owner occupiers and investors in the nation's residential construction market has seen a significant growth over the last few months, with the Housing Industry Association (HIA) pointing out that these movements are expected to last well into 2015. 

As the local market continues to develop and grow, now could be a brilliant time to consider buying your own Belconnen real estate. Securing your own slice of the market and getting in before future increases could be a smart move to make over the coming months. 

HIA economist Diwa Hopkins said loans for new owner occupier home construction rose by 1.5 per cent over October, bringing it up to a level 14.6 per cent over the same time last year. 

"On the investor side of the ledger, lending for the construction of rental housing or housing for resale remained strong during the month. The value of lending edged higher by 0.5 per cent to be 24.3 per cent higher than a year previously," said Ms Hopkins in a 10 December statement. 

Specifically, the Australian Capital Territory saw a 12.3 per cent boost in owner occupier home loans for new housing between October 2013 and 2014. With these figures expected to continue upwards, this could be good news for the overarching health of the national market. 

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