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Recovery underway in new house construction

By James Brown

The provision of new real estate in Burpengary could soon increase, as BIS Shrapnel forecasts a rise in construction activity over the coming years.

Although early stages of a recovery have already been seen, the Outlook for Residential Land 2014 to 2019 report suggests this will only continue over the coming years.

"The improvement in lot production in 2013-14 was underpinned by the emergence of pent up demand for new houses after the sustained period of low new dwelling activity following the GFC," said report author Angie Zigomanis.

He revealed how interest rate reductions have made property more affordable for buyers in Brisbane, while falling land prices have improved the attraction of investment.

A peak in lot production is expected to be reached by 2015-16, where 9,000 sites will be created throughout the city.

BIS Shrapnel expects this will take place in the local government areas outside the remit of Brisbane City Council, as developers make the most of new opportunities that arise.

Growth in land prices has largely been more limited than it has for house values, which in turn has made new properties more attractive to investors and first-time buyers alike.

No matter what type of property you have your eye on, make sure you enlist the help of a real estate agent in Burpengary.

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