Increasing New Home Sales In Queensland Good For Surfers Paradise Property Market
Now could be the perfect time to consider purchasing Surfers Paradise property, with the number of new home sales across the nation increasing during the first part of 2014. This could be encouraging for anyone looking into options for real estate in Surfers Paradise.
According to the latest Housing Industry Association (HIA) release, January saw a nationwide 0.5 per cent increase in the number of total new home sales. Furthermore, compared with the same month 12 months earlier, new home sales were up by 17 per cent. The three months prior to January saw an increase of 22.3 per cent compared to the same period a year earlier.
In Queensland alone, detached home sales increased by 0.4 per cent duirng January 2014. In the three months leading up to January 2014, the state saw a 17.8 per cent increase in these sales – highlighting the overall strength of the market and the opportunities available for potential investment in the Sunshine State.
"New home sales have been rising pretty steadily since the third quarter of 2012, encouraged by the falling interest rates and the return of confidence to the housing market," said HIA Senior Economist Shane Garrett in a March 3 statement.
"The return of house price growth to most cities has done much to oil the market and allow transactions to start occurring in greater numbers."