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New South Wales dwelling approvals jump over October

By Louise Morrin

If you're considering purchasing or building your own real estate in Carlton, now could be the perfect time to get serious about it and begin checking out your options. The latest Housing Industry Association (HIA) release has illustrated the rising strength of the New South Wales market, with increasing dwelling approvals highlighting the continuous rises being experience statewide. 

Over October, New South Wales saw new dwelling approvals increase by 5.9 per cent, offering some insight into the development of the state's housing and construction market. HIA senior economist Shane Garrett said these figures showed that the home building recovery is yet to finish, with the anticipation that it could last well into the new year. 

"Australia needs to build a minimum of 180,000 new dwelling commencements per year over the long term. We are only barely scratching this figure now. It is very important that all supply constraints are addressed to ensure a level of commencements in excess of 180,000 being the benchmark, not a cyclical peak," said Mr Garrett in a 2 December statement. 

With these signs expected to remain strong for the foreseeable future, making moves into the Carlton property market could be a great decision to make for your future. 

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