Now might just be the time for first home buyers in New South Wales to consider purchasing real estate in St. George.
Data from the 2014 Property Council of Australia – ANZ Property Industry Confidence Survey shows that property sentiment reached 140 nationwide for the March quarter of 2014. This represents a rise from 132 in the December 2013 quarter.
However, confidence surged even higher in NSW, with the state posting its highest level of confidence in two-and-a-half years. Confidence rose to 147 during the March quarter, up from 112 at the same time during the previous year.
According to Residential Development Council Executive Director Caryn Kakas, increasing construction in the region is partly behind the rise, and acts as a boon to first home buyers.
"Home owners will benefit from rising house prices with increased financial stability for families and a bigger nest egg for retirees," she said.
"And while higher prices mean first home buyers face an uphill battle to secure a foothold in the market, an expected increase in supply means more opportunities to buy a first home at a realistic price."