News

No let-up in dwelling approvals

By James Brown

A rise in residential construction could be just what people need to move out of rental property in Bellmere and into a place of their own, one major group has suggested.

The Property Council of Australia commented on the latest dwelling approvals data from the Australian Bureau of Statistics (ABS), which showed strong levels of activity across the country as a whole. While national approvals were down 0.1 per cent between April and May in trend terms, the group believes there shouldn't be any cause for concern.

Nick Proud, executive director of residential for the Property Council of Australia, described the findings as "the best possible news for combating the challenge of housing affordability". During the 12 months to May, 218,442 new dwellings were given the go ahead in seasonally adjusted terms, up from 192,561 the previous year.

"The only meaningful way to take the pressure off prices is to increase new housing supply and today's data shows Australia is continuing a significant run of residential approvals," said Mr Proud.

However, the group noted that action will need to be taken to ensure that approvals continue their upward climb, and don't start falling into negative territory. The ABS noted that dwelling approvals were down 2.1 per cent throughout Queensland in May, while private sector projects fell 1.3 per cent in trend terms.

Is now the time to buy property in Bellmere?

Property buyers have a lot to be happy about at the moment. Not only is the official cash rate staying at its all-time low for another month, but yearly construction activity is on the rise.

If you are in the position to make those all-important first steps onto the ladder, then now could be the time to do it. Get in touch with the team at Ray White Caboolture for help making your property ambitions a reality.

Up to Date

Latest News

  • Protect our Unique Environment and Wildlife

    Ray White Caboolture and Ray White Burpengary have created a reusable and recyclable bag. The Queensland Government has taken action to protect our unique environment and wildlife through the introduction of a ban on the supply of single-use lightweight plastic shopping bags on 1 July 2018. To recycle your Ray White … Read more

    Read Full Post

  • Father’s Day in Caboolture and Moreton Bay Region

    Below are a few ideas on what you could do for Father’s Day Treat dad to the Caboolture Sports Club all you can eat hot & continental buffet breakfast at the Caboolture Sports Club CLICK HERE to book Morayfield bunnings make a Gift For Dad Workshops CLICK HERE The shaver shop … Read more

    Read Full Post