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NSW housing approvals back to their best

By Louise Morrin

The number of options you have to choose from when buying property in Carlton is likely to have improved over the past few months, as the latest data points to increased building approvals.

Analysing official figures from the Australian Bureau of Statistics, the Property Council of Australia revealed building approvals were up 22 per cent in October from a month earlier.

Executive director of residential at the Property Council Nick Proud explained that it's the largest states that appear to be making the most headway. He now believes measures need to be put in place to ensure every part of the country can enjoy a construction boom.

"As we head into 2016, there is a need to better leverage the strongest residential construction activity ever recorded and consider new ways to support supply to meet the housing needs of all Australians," said Mr Proud.

Similar comments have been made by the Housing Industry Association (HIA), which explained how the construction sector has managed to thrive even in spite of over-taxation. The group anticipates that the housing boom peaked in 2014-15, which is why extra support has never been so important.

It's also crucial to make sure every aspect of the residential construction industry is given the consideration it needs. The HIA explained that in October that detached housing approvals were down 2.1 per cent, while multi-unit approvals were up 10.1 per cent.

For people to have the greatest number of options when buying property in Carlton, a wider spread across the various house types needs to be achieved.

Time to secure your next property in Carlton?

Whether you're buying your first property in Carlton or moving up the ladder, enlisting the help of a real estate agent can be a major advantage. We can help you weigh up what is available in the local area and find a home that's suited to your individual needs.

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