If you've got your sights set on a detached property in Bunbury, there's every chance you won't be alone. That is because detached house sales were especially strong in August, offsetting some of the falls in multi-unit dwelling purchases, the Housing Industry Association (HIA) revealed.
The HIA's New Home Sales Report shows that during the course of the month, the seasonally-adjusted rise in sales for all property types across the country as a whole stood at 2.3 per cent. Detached house sales were up 3.5 per cent, while multi-unit transactions witnessed a 1.7 per cent fall compared to the previous month.
HIA economist Diwa Hopkins noted that while sales may have peaked for the year, the latest results suggest there is still some steam left in the market.
"We're forecasting total dwelling commencements to ease back from what we expect to have been the peak level in the financial year just passed, but still remain elevated," commented Ms Hopkins.
This follows the release of data from the Australian Bureau of Statistics, which showed dwelling approvals were down 0.7 per cent over the course of August. Western Australia reflected this trend, as its building approvals declined 1.8 per cent month on month.
The state also witnessed a fall in private sector house approvals, which were down 2.8 per cent. As a result, the upswing in demand for detached property in Bunbury suggested by the HIA figures may create further pressure on the market.
No matter what type of property you have in mind, be sure to take on the expertise of an experienced real estate agent. They can take you through the local market and help you find a home that's in line with the criteria you have set.