Investors might be keen to construct real estate in Elimbah at the moment, but for owner occupiers, the market apparently isn't quite so buoyant.
The Australian Bureau of Statistics (ABS) has released its latest housing finance figures, which point to mixed activity across the construction lending sector. Over the course of May, the seasonally adjusted estimate for housing finance for owner occupation was down 5.3 per cent compared to the previous month.
However, even as the overall figure declined, the Housing Industry Association (HIA) revealed that the picture might not be quite so bleak. It noted that in May, the value of lending to investors was up 1.6 per cent from the previous month. This helped offset some of the 5.4 per cent fall in the value of lending to owner occupiers.
HIA economist Diwa Hopkins explained that the all-time low cash rate doesn't seem to have had the positive impact on the market that many analysts had expected. She did acknowledge that it may take some time for the effects to be fully felt.
"It remains to be seen whether this latest cut will generate further momentum in lending for dwelling construction," said Ms Hopkins.
"Currently, the profile of dwelling-construction lending suggests that actual new home building activity might start to moderate over the short to medium term."
Despite this latest fall in lending values, the HIA points out that the level is still 11.5 per cent higher than the same time last year. Queensland's dwelling construction loan total was down 9.4 per cent from May 2014, suggesting that action may need to be taken to ensure building can continue to thrive.
For help making your move into the Elimbah area, get in touch with the team at Ray White Caboolture. We're here to help find the property that most suits your needs.