Residential development remains strong economic factor

By Kevin Kelly

In a recent release from CoreLogic RP Data and the Residential Development Council, the future prospects of the nation's construction industry were projected.

This could be great news for investors interested in building their own real estate in Bunbury. The Australian Residential Development Outlook report outlined the new housing industry is actually expected to remain a major component of the nation's economy.

The report's findings outlined that new dwelling starts will remain strong heading into 2016. Property Council of Australia's residential executive director Nick Proud said the data suggests new home starts will record 30,000 to 40,000 higher than the country's long term average. 

"Residential development has emerged as one of the main drivers of economic activity across the country," said Mr Proud in a 21 May statement. 

"Recent improvements in new housing supply are expected to continue, adding tens of thousands of homes for Australian families and easing pricing pressures to improve affordability."

As the nation's construction industry posts strong expectations for future growth, now could be a great time to consider your own investment expansions. Be sure to get in touch with a local real estate agent to begin discussing the property options in the long term. 

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