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Can you expect to find more detached property in Burpengary?

ByJames Brown

New-build property in Burpengary can be appealing, especially if you want a home that you can put your stamp on right from day one. If you're in the market for a recently constructed property at the moment, you should find there is plenty to choose from.

However, the Australian Bureau of Statistics (ABS) has released its building approvals data for April, which points to a 0.4 per cent fall in projects being given the go ahead. Queensland followed the national trend and posted a 0.8 per cent fall compared to March levels. However, it might not all be bad news.

The Housing Industry Association (HIA) analysed the ABS figures and revealed that it is detached housing that's currently leading the charge.

"During April, detached house approvals rose by 4.7 per cent in seasonally-adjusted terms to reach 10,264," noted HIA Senior Economist Shane Garrett. 

"This represents the highest monthly total for detached house approvals since February 2010."

Mr Garrett argued that detached property construction needs to be given all the support it can get, especially as activity seems to have been centred on the multi-unit market recently. It might be necessary to bring in some new policy settings so that the sector can be given as much support as it requires to thrive.

Queensland saw a fall in the number of private sector housing approvals over the course of April, the ABS figures showed, as they marked a decline of 0.5 per cent. This suggests that other players are coming into the market to enable the state to meet the housing needs of its growing population.

Whether you want a new or existing property, be sure to get in touch with the team at Ray White Burpengary. We have years of experience in the local market and could be just who you need to talk to make an educated choice.

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