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March sees detached home sales jump in Victoria

By Jamil Allouche

It's no secret that Australia's real estate industry has entered into a strong stride recently, especially in capital cities like Sydney and Melbourne.  

New figures released by the Housing Industry Association (HIA) have highlighted the growing market for new properties nationwide, which could be great for buyers looking into buying real estate in Brunswick

Over the month of March, Victoria saw a 5.9 per cent increase in detached home sales. And over the March quarter the state reported a 5.2 per cent jump in detached home sales as well, offering some insight into the strength of the region's market. 

HIA economist Diwa Hopkins said that, nationwide, there was a 4.4 per cent increase in new home sales during the month. 

"HIA welcomes yesterday's reduction to the official cash rate, a decision which has arrested much of the uncertainty around monetary policy," said Ms Hopkins in a 6 May statement. 

"Lower lending rates will provide added support to residential construction activity, which is emerging as a key area of growth mitigating the effects of the downturn in mining investment and construction." 

If you're interested in purchasing a new home in Brunswick, now could be a great time to get in touch with a local real estate agent in the area. 

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