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Australian construction strength to stretch into 2016

By Jamil Allouche

Investing in off-the-plan property in Brunswick could be a lucrative avenue for buyers in coming months.

Recent figures released by the Residential Development Council and CoreLogic RP Data in the latest Australian Residential Development Outlook have forecast positive results for the construction sector. According to the report, the level of new home construction could continue well into 2016. 

Not only would this activity provide more houses for investors to choose from, but could also ease some upward pressure on housing prices across the country.

Property Council of Australia residential executive director Nick Proud said national housing starts could remain 30,000 to 40,000 properties above Australia's long term average, providing more employment opportunities and bolstering the national economy. 

"Recent improvements in new housing supply are expected to continue, adding tens of thousands of homes for Australian families and easing pricing pressures to improve affordability," said Mr Proud in a 21 May statement. 

He went on to say that this continued strength would require "all three tiers" of Australia's government to work together and come up with a more streamlined planning process for construction. 

If you're interested in purchasing property in Brunswick, now could be a good time to get in touch with a local real estate agent. 

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