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Double digit residential construction figures recorded for 2014

By James Brown

Last year was a significant period for the development of real estate across the country, with the latest Australian Bureau of Statistics Building Activity figures recording high growth for the 12 months to December 2014. 

Property Council of Australia Residential executive director Nick Proud said new residential dwelling figures jumped by 17.9 per cent over the year, outlining that as more properties begin to enter into circulation, the overarching price of housing could be expected to start dropping. 

"What is encouraging in this latest full year data is that construction activity is now catching up with building approvals. This translates into more jobs being created and higher levels of economic activity," said Mr Proud in a 15 April statement. 

"Over the 12 months to December 2014 construction started on 45,000 new homes on top of the 153,000 homes that have been built on average over each and every year of the preceding decade." 

This could translate well for prospective buyers of Caboolture real estate, especially for first home buyers interested in securing Queensland's First Home Owners Grant – which provides $15,000 towards the construction or purchase of a new home statewide. 

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