Taking note of a state's economic growth is a great habit to get into before you purchase residential property. For example, if you're investigating real estate in Burpengary, the latest report from the Urban Development Institute of Queensland (UDIQ) has highlighted the growing figures in both residential approvals and construction, and industry growth across the state.
Over the three months to August this year, total dwelling approvals rose by 12.6 per cent over the three months to August this year, while Queensland also lead the state over the last 12 months – with approvals jumping by 24.5 per cent, the best annual result in six years.
Furthermore, the report highlights a shifting trend from investment buyers through to owner occupiers buying new homes and apartments. Loans for the construction of purchase of a new home for occupiers rose by 4.2 per cent over the August 2014 quarter. This follows a huge 17 per cent growth experienced over the three months to May 2014.
As these figures continue to rise, now could be a brilliant time to get in touch with a local real estate agent to begin searching for your own property in the Sunshine State.