Strong building future for Queensland
Queensland's property supply can be expected to grow significantly over the coming months following the strong housing approval figures seen in January. Housing Industry Association Executive Director for Queensland Warwick Temby said there was a 48 per cent spike in approvals over the month – with much of this focused on multi-unit development.
Furthermore, detached homes saw a 3.3 per cent boost over the month. But buyers looking into purchasing Burpengary real estate could set their sights for the near future, as these projects come to fruition across the state.
Mr Temby said the home building industry could be expected to continue making significant contributions to Queensland economy for the next few years.
"Multi-unit approvals are up 11 per cent and detached houses are up 15 per cent for the three months to January 2015 compared with the same period last year," said Mr Temby in a 3 March statement.
"This means that there is a growing pipeline of work ahead for the home building industry in Queensland."
Now could be a great time to start looking into your home finance options and preparing your deposit, in order to be ready to buy into the market when the time is right.