A recent release from the Real Estate Institute of Australia (REIA) has highlighted the growing popularity of investment property across the nation, which could be good news for those investigating houses for sale in Burpengary.
While the number of commitments for the construction of new home dwellings grew by 1.8 per cent during January, there was a 1.4 decline in the number of established new dwellings in the owner occupier market.
However, investment commitments grew by 1.6 per cent during January – resulting in nearly three years of consecutive monthly increases for investors across Australia.
Furthermore, there was movement in the first home buyer market as well.
“The proportion of first home buyers in the number of owner-occupied housing finance commitments rose from its historically lowest point of 12.3 per cent in November 2013 to 13.2 per cent in January 2014,” said REIA President Peter Bushby in a March 12 statement.
“Despite the increase, it is far lower than the long-run average proportion of 19.9 per cent, despite eight interest rate cuts since November 2011.”
This could indicate the perfect time to consider taking out home loans in Burpengary and purchasing investment property in the region. With an impending population boom heading towards Queensland, accommodation will be one of the top commodities in the coming years.