The strength of the Australian property market has been highlighted again, with new figures released by the Australian Bureau of Statistics offering some insight into the growth of the real estate landscape. Lending for new housing has risen to the highest point in 20 years, which could be encouraging for those looking to invest in real estate in Burpengary.
Housing Industry Association chief economist Harley Dale pointed out the growing market, stating that first home buyer rates were still remaining considerably low when compared to a historical perspective. However, demand across the nation was still high, offering incentive for buyers to dive into the property market.
"That is a healthy result in terms of the short term outlook for new home construction. The demand for new housing reflects activity from first home buyers, trade-up owner occupiers, and investors," said Mr Dale in a 10 November statement.
More specifically, Queensland saw a 4.9 per cent increase in the number of owner-occupier loans sought over September, showing more people are buying homes to live in the Sunshine State. Get in touch with a local real estate agent to begin looking into the options available to you.