The Housing Industry Association (HIA) has highlighted the growing rate of new home lending that occurred during January 2014, which could be great news for those interested in Surfers paradise property.
Home loans for owner occupiers of new properties rose to the highest point in four years during January, with the number of loans for construction of new dwellings increasing by 5.8 per cent. Furthermore, the number of loans for established new homes eased by 1 per cent, which shouldn't be cause for alarm following the strength of the market over the last few months.
HIA Economist Diwa Hopkins said these conditions were a sign of the returning strength to the construction industry across the nation.
"The overall January result is a promising signal that recently improved conditions in the residential construction sector will continue into 2014. There are also some important signs emerging from the state by state breakdown of new home lending," said Ms Hopkins in a March 12 statement.
For example, the rising status of Queensland and South Australia for construction home loans means a number of potential opportunities for those looking for real estate in Surfers Paradise.