Property Values, Construction Get Boost from Demand in Sydney
If you're wondering whether or not to seek out a mortgage broker in Sydney's eastern suburbs for a property investment, you'll want to keep a close eye on housing demand in the Australian housing market.
And according to data released by the Australian Industry Group (Ai Group) and Housing Industry Association (HIA), demand remains high.
While December represented a decline in activity when compared to the previous month, the Ai Group/HIA Australian Performance of Construction Index posted 50.8, showing expansion.
"The recent spurt of growth in residential construction continued in December with ongoing strength in both apartment and house building activity," said Ai Group Director of Public Policy Peter Burn in a January 8 media release.
"Low interest rates are clearly having their long-awaited impact and the continued growth of new orders means that builders… can look forward to 2014 with a greater degree of confidence than prevailed only a few months ago."
Demand is not only leading to increases in construction activity, but rises in property values, as well. RP Data reported on January 2 that Sydney led the nation in property value with 14.5 per cent growth throughout 2013.
If you're looking to take advantage of the current market in Sydney's eastern suburbs, contact Daniel Pym and I'll help you find the loan solution that serves your needs.