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ABS figures highlight strong building economy nationwide

By Louise Morrin

Recent Australian Bureau of Statistics figures have shown the strength of Australia's home building market, which could be inspiring for owner occupiers and investors alike interested in constructing property in Carlton

The home building industry has remained a major component of the nation's economy during the March quarter. Master Builders Australia chief executive officer Wilhelm Harnisch said confidence among builders has risen by 4.3 per cent as renovation figures began to rise. 

"A solid lift in housing construction of 4.8 per cent seasonally adjusted is driven by building approvals and strong finance commitments flowing through to the construction phase and this will continue for months to come," said Mr Harnisch in a 27 May statement. 

Additionally, commercial property construction has also risen by one per cent over the March quarter. This could reflect the returning faith in small business development across the nation, helping to boost community growth and stimulate the economy. 

The current cash rate environment – and subsequently low interest rates – could offer a great opportunity for buyers hoping to make their mark in Sydney. 

Get in touch with a Carlton real estate agent today to begin investigating the property options available in the local community. 

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