Housing Industry Association (HIA) figures released early this week highlight the rising strength of the Australian property market, with dwelling approval figures jumping by 11.4 per cent over October, which could be great news for those interested in buying investment real estate in Brunswick.
Multi-unit properties, which saw a huge 30.4 per cent increase over the month, comprised the majority of October's more than 17,000 approvals. Furthermore, over the year leading up to October 2014, there were 197,530 dwellings approved nationwide – which HIA Senior Economist Shane Garrett said was an encouraging figure for the future growth of the nation.
"Australia needs to build a minimum of 180,000 new dwelling commencements per year over the long term. We are only barely scratching this figure now. It is very important that all supply constraints are addressed to ensure a level of commencements in excess of 180,000 being the benchmark, not a cyclical peak," said Mr Garrett in a 2 December statement.
As the markets continue to strengthen and grow, now could be a brilliant time to consider making moves into the local Brunswick real estate market to expand your investment portfolio.