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Affordability maintained by strong Victorian construction figures

By Jamil Allouche

The development of a strong housing construction sector in Victoria has led to better affordability outcomes for real estate across the state, outlined by the latest Housing Industry Association (HIA) Victoria Outlook report. 

This could be encouraging for buyers interested in securing real estate in Brunswick. Regardless of whether you're an investor or an owner occupier, making moves into the market at the moment could be great for your future. 

HIA executive director for Victoria Gil King said dwelling commencements are forecast to see a second consecutive year of growth in Victoria. 

"While the forecast is for commencements to decline over the subsequent years, the overall level of activity is on track to remain historically healthy," said Ms King in a 23 February statement. 

"New home building made a massive contribution to economic growth in the state last year, with particularly strong increases in new multi-unit dwelling construction."

It's projected that new dwelling commencements will rise by 7.3 per cent over 2014/15, following 2.5 per cent growth seen during 2013/14. 

Now could be a great time to get in touch with a local real estate agent to start looking for your own slice of Brunswick real estate in the near future. 

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