Conditions have been great for people looking into building or buying property across Australia during the first months of 2015.
And after the official cash rate was reduced earlier this month, now could be a great time to begin planning the development of your own real estate in Burpengary.
New home lending figures has remained strong nationwide as well, following explosive growth across Australia's real estate market in 2014.
Housing Industry Association economist Diwa Hopkins said that the May cash rate cut will take a while to be fully reflected in economic activity. This could lead to further jumps in the coming months as the lending environment embraces the changes.
"Lower lending rates have been a vital element to new home building activity and the now-crucial role it is playing in supporting the broader domestic economy," said Ms Hopkins in a 12 May statement.
She went on to say that recent attention being shed on "excessive and inefficient taxation" is also likely to have an effect on new home lending. When coupled with reduced interest rates, investment figures could see some growth nationwide.
If you're interested in building or buying property in the area, be sure to get in touch with a local real estate agent in Burpengary today.