Sell with Confidence
Read More

Will the budget give construction a leg up?

By Brett Pilgrim

If you've been keeping a close eye on the headlines over the past few days, there's been no shortage of commentary on the government's 2015-2016 budget. Amidst all the debate, you've probably been wondering what the decisions mean for property in Adelaide – and the news could be good.

Supply and demand is an equation that's commonly brought up in conversation around real estate, and there's been a fair amount of debate about how to keep construction thriving. In positive news for homebuyers in Adelaide, the budget could give a tangible boost to the supply of new homes in the South Australian capital. 

Already, according to the Housing Industry Association, there were a record number of approvals for new homes during March across the country – and their numbers grew an encouraging 35.2 per cent in South Australia alone, in seasonally-adjusted terms. With the Reserve Bank's latest rate cut on hand to put wind into the building industry's sails, the budget has provided more promise to the real estate market in Adelaide.

The government has pledged a $5.5 billion package towards small businesses and employment, which Master Builders Australia CEO Wilhelm Harnisch said should help keep the new home building market on its upwards track. In fact, he noted that there are more small businesses in the building and construction sector than any other industry – and the tax cuts should gift builders across Australia a great deal of relief. 

"The $5.5billion small business package will massively boost confidence, activity and jobs in the industry," Mr Harnisch said in a 12 May release.

"Master Builders called for short term tax measures to boost building activity and maintain the momentum of the housing upturn and these measures have exceeded builders' expectations."

This is an encouraging sign for the future of real estate in Adelaide, and will hopefully be the kick start the market needs. If you'd like to get ahead of the curve and find out more about the fantastic selection of homes on offer in the South Australian capital, make sure to touch base with the team at Ray White. 

Up to Date

Latest News

  • Look Luxe for less: Fuss free upgrades that won’t break the bank

    By Laura Barry in association with Whether you’re looking to update your home according to the season, or want the space to feel a little more polished, there are a few simple changes you can make to your interior to achieve a luxe look without a big outlay. Elevating your interior style … Read more

    Read Full Post

  • Say farewell to your empty wall

    By Samantha van Egmond in association with Discover budget friendly ways that fill your large walls with mirrors, art and textiles. A bare, white wall in your living area can be intimidating and make even the loveliest of homes feel cold, especially in winter. However, there are ways to inject personality into … Read more

    Read Full Post