Queensland's real estate market is set to grow during 2014, with the latest report from the Housing Industry Association (HIA) highlighting the rising popularity of property in the state – which could be great news for those considering real estate in Surfers Paradise.
The latest Outlook Report highlighted the returning strength of the market in 2013 following the declined market seen across 2011 and 2012, with HIA Queensland Executive Director Warwick Temby stating new dwelling commencements rose by 8.7 per cent last year, indicating the growing popularity and strength of property in the market.
"This upswing in activity will mean good news, not just for the industry but for the Queensland economy as a whole. With mining investment-related activity in decline, residential construction is stepping up to the plate in terms of providing another driver of growth in the state economy," said Mr Temby in a February 28 statement.
Housing starts rose by 3.8 per cent in 2012/13, with expectations for 2013/14 recorded at a huge 14.8 per cent. Furthermore, these figures are expected to rise by 8.7 per cent in 2014/15, with dwelling commencements on track to exceed 40,000 by 2017/18.
Now could be the perfect time to consider building or purchasing Surfers Paradise property, in order to secure a great investment in a growing market.