Strengthening Queensland Real Estate Market Good for Burpengary Real Estate Landscape
Now could be the perfect time consider home loans in Burpengary, with the latest Housing Industry Association (HIA) report highlighting the growing strength of Queensland real estate market following two years of declines.
According to HIA’s Queensland Executive Director Warwick Temby said a recovery began during 2013, which is expected to continue well into the new year. This could present a great opportunity for the purchase of property in Caboolture or any surrounding suburbs.
“Last year, new dwelling commencements rose by 8.7 per cent and we are optimistic that this heralds the beginning of the long awaited recovery,” said Mr Temby in a February 28 statement.
Housing starts rose in Queensland by 3.8 per cent during 2012/13, with further increases expected. Over 2013/14, the projected level of growth are forecast at 14.8 per cent, and another 8.7 per cent in 2014/15. These commencements are expected to surpass 40,000 by 2017/18.
“This upswing in activity will mean good news, not just for the industry but for the Queensland economy as a whole,” said Mr Temby.
“With mining investment-related activity in decline, residential construction is stepping up to the plate in terms of providing another driver of growth in the state economy.”
Now could be the perfect time to consider purchasing or building a new home in the Burpengary Real Estate market.