Got your eye on brand new real estate in Brunswick? Well there's some good news, as it's just been revealed that dwelling approvals have increased across the country.
The Australian Bureau of Statistics (ABS) revealed that approvals were up 1.2 per cent in April, marking the fifth month in a row there's been an increase in trend terms. Analysis carried out by the Housing Industry Association (HIA) suggests it's multi-unit dwellings that are leading the charge, expanding the number of options available across Victoria and beyond.
"Today's strong result goes against the easing trend that we've observed over the last six months," commented HIA economist Geordan Murray.
"We maintain our view that the level of new home building activity in to 2016 is likely to be lower than we saw during 2015, however this result suggests the 2016 level may be closer to the peak than initially expected."
States along the eastern seaboard seem to have been performing better than other parts of the country when it comes to giving housing projects the go ahead. The HIA noted that multi-unit approvals increased 7 per cent in Victoria, bringing more options when it comes to buying property in Brunswick.
Results for detached houses have been less impressive, with the number of approvals remaining broadly flat over recent months. All eyes will be on future figures to see whether they manage to gain any pace.
The team at Ray White Brunswick is available to help you find a home that meets your individual needs. Whether you want to buy new or a property in Brunswick with a little history behind it, we're here to assist every step of the way.