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More Inventory Means More Options for Home Buyers

By Jamil Allouche

Recent activity in the housing market is spelling good news for those considering a property in Brunswick.

The Real Estate Institute of Victoria reported huge amounts of stock coming on to the market in the Melbourne area during late November.

Meanwhile, data from the Housing Industry Association (HIA) shows that residential building approvals reached their highest levels in three and a half years during September, meaning more stock is soon to enter the market nationwide.

This growth has been felt particularly in Victoria.

In fact, while approvals fell in New South Wales during October, they actually increased in Victoria.

"All things considered, this is a healthy update for this key leading indicator of new home building activity," said HIA Chief Economist Dr Harley Dale.

"The upward momentum to building approvals is impressive and augers well for new home building activity heading into a new year."

With more stock coming on to the market, those considering purchasing real estate in Brunswick and surrounding areas will have more options to choose from.

Additionally, larger inventory can help reduce competition and sales prices, making now a good time for property buyers seeking an affordable deal.

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