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Increase in sales for new homes nationwide

By James Brown

As dwelling construction figures continue to rise nationwide, the number of people interested in buying new properties has also increased. 

The Housing Industry Association's (HIA) latest New Home Sales report has illustrated the current state of Australia's housing market, with new home sales during March reaching a four year high. 

Anyone interested in purchasing new real estate in Burpengary could begin looking into the options available in the local community. HIA economist Diwa Hopkins said new home sales improved by 4.4 per cent over the month. 

"The March result for total new home sales consists of an 11.3 per cent rise in multi-unit sales and a 2.6 per cent rise in detached house sales," said Ms Hopkins in a 6 May statement. 

Furthermore, the current economic climate could also be accommodative for purchasing property.

On 5 May, the Reserve Bank of Australia decided to reduce the official cash rate to another historic low of two per cent, which is likely to lower mortgage interest rates. 

This could make them more suitable for buyers seeking to buy their own home. If you're interested in checking out the local neighbourhood, get in touch with a local real estate agent in Burpengary today. 

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