What does housing supply mean for the home buyer? A number of things, potentially. It might translate into a greater degree of choice when it comes to buying property. It might mean more affordable real estate. It might even be the sign of a healthy real estate market and local economy, which affects us all.
Whether it's the first, second or third scenario, Queenslanders will be pleased to know their state could be experiencing these conditions soon, as a recovery in home building is well under way. The Housing Industry Association's Housing Scorecard report is likely to have anyone looking to buy real estate in Burpengary East, Morayfield and surrounding areas rubbing their hands in anticipation.
Although the state stayed in the same position in the national rankings, it experienced an upward improvement in its score worth seven points.
"The recovery in Queensland continued to gather momentum," commented HIA economist Geordan Murray.
"To maintain the positive momentum we'll need to see the recovery broaden its base through improvements in detached house building and renovations activity."
The HIA previously found that Queensland had the largest percentage increase in new home starts over the March 2015 quarter. Dwelling starts increased by 20.9 per cent over the three-month period, higher than Victoria's 18.8 per cent and the Northern Territory's 12 per cent.
According to Mr Murray, at the present time, much of Queensland's recovery can be attributed to the growth of multi-unit dwellings. This might give some indication as to what type of housing property management in Burpengary will be centred on in the future.
Ray White Burpengary is the office to call if you're thinking about making the most of these conditions. They are intimately familiar with the Moreton Bay region and know how to find the most favourable deals.