Construction decline slowed somewhat in March, which could eventually result in a healthier sector and even more opportunities for those looking to buy real estate in Adelaide.
Figures were released by the Housing Industry Association on April 7, citing results from the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (PCI).
It was found that the construction index moved up slightly, by 2 points from February to March.
This brings the index to 46.2 points, which could offer fantastic opportunities for first home buyers looking to secure property in Adelaide at a future date.
March marks the “third consecutive month since the industry’s return to growth in the final quarter of 2013 that the Australian PCI has been below the critical 50 points level that separates expansion from contraction,” according to the April 7 statement.
Despite the dip in house building (-1.4 per cent), the 50.8 house building sub-index indicates “stabilisation”.
Until construction gets off the ground and figures lift, existing property owners and investors are placed in a good position if they’re looking to sell. With construction picking up but still in a period of contraction, demand for properties may see dwelling prices increase somewhat.