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Construction helps fuel economic growth

By Kevin Kelly

Buyers of real estate in Australind are likely to find themselves faced with a fair amount of choice, as it emerges that residential construction has continued its positive run.

Commenting on the latest construction data, the Property Council of Australia said buyers are benefiting not only from a wider choice of homes, but also improved affordability. September quarter figures show the value of new residential construction was up 10.6 per cent from the same period a year earlier.

"Current record levels of housing construction are only now taking the edge off prices, however one strong year of activity will not correct a decade of undersupply," noted the group's executive director of residential Nick Proud.

Putting the right policies in place

Mr Proud urged for policies to be introduced that will continue to support this strong pipeline activity. Otherwise, the affordability of real estate in Australind and other parts of the country could soon start to slide.

Master Builders Australia agreed, with its chief economist Peter Jones explaining that "unhelpful tax reform" could undo some of the good work that's recently been carried out.

Clamping down on negative gearing would be one example of this, Mr Jones noted, as this could seriously limit the pool of people able to access the property market.

Affordability in the spotlight

The Property Council said the ultimate aim should be to make property as affordable as possible for the nation's families. Strong levels of construction will achieve this to a certain extent, but the right conditions will also play an important role.

There is affordable real estate in Australind available, but knowing exactly where to look might not always be easy. This is where the team at Ray White Bunbury comes in – we can help you find somewhere that's within your budget and your chosen area.

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