There are so many fantastic reasons to make real estate in Adelaide your first choice. Whether it's the rich array of cultural activities, the beautiful landscape or community atmosphere, buying a property in the South Australian capital has tangible benefits. Not only that, but new figures from the Australian Bureau of Statistics (ABS) and Housing Industry Association (HIA) have revealed that homebuyers and investors might have a few more property options to choose from.
The HIA has analysed recently released building activity data from the ABS, finding that the number of homes being built has improved considerably over 2014 across the country. The results show that there were, in trend terms, 17.5 per cent more detached houses that started construction last year than in 2013, while building activity for other dwellings – mostly multi-unit properties – increased by an ever larger percentage, 18.4 per cent.
HIA economist Geordan Murray said it was the strongest year on record for dwelling commencements, which could bode well for the building sector as this year ploughs on. There were almost 198,000 new homes commenced over the year, which Mr Murray noted has likely put a sizeable dent in the predicted housing shortage.
"Policy makers must nevertheless ensure that the mix of housing types continues to align with the preferences and expectations of the community, within which detached housing is still the major element," Mr Murray said in a 15 April release.
While the December quarter saw the figures contract slightly, South Australia and Tasmania stood out as the star performers. Dwelling starts fell back in all other states over the three months, but the volume of new homes being built surged 9.3 per cent and 10 per cent respectively in SA and Tasmania. This is likely encouraging news for homebuyers in Adelaide. With more properties under construction in the final months of last year, your search for an affordable option could be even more achievable.
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