Growth Ahead in Residential

Growth Ahead in Residential

As reported on the Property Council of Australia’s website this week, the housing market is set to take off in the next 18 months, with Melbourne house prices expected to rise 9 per cent in 2014, a new report from research consultancy Macromonitor finds.

The price growth is expected to continue into the first half of 2015, too, with an anticipated 3 per cent increase in prices across the capital cities.

The report also states that nationally dwelling commencements will peak next year at about 180,000 – their highest level since 1994. In January, building approvals reached 17,514, which was the biggest monthly gain in 12 years.

The increase in national house prices is being driven by several factors, including population growth, strong local and foreign investor appetite and good conditions for owner-occupiers, such as low mortgage rates.

Source- The Property Council of Australia

Posted 34 mins ago by paskgroupadmin.