Property market confidence looks set to end the year in positive territory, as results of the final quarter ANZ/Property Council Survey are released. A reading of 130 has been registered for the final three months of 2015 and marks a decline of five points on the same quarter of last year.
Ken Morrison, chief executive of the Property Council of Australia, explained how important it is to ensure people are able to get access to homes, including real estate in Bunbury. In addition, the construction sector shouldn't face too many roadblocks, as this will only hamper further progress.
"In the December quarter, we saw a drop in debt finance availability expectations across the board, which is evidence that our regulatory safeguards are functioning as intended," Mr Morrison noted.
It's estimated that the property industry accounts for around 11.5 per cent of Australia's gross domestic product and is the second-largest employer in the country. As a result, more home building will be necessary to provide people with the jobs they need and give the national economy a boost at the same time.
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index for September has also been released, showing expansion for the second month in a row. More real estate in Bunbury could be on the cards, as the index points to strong growth in residential construction at a time when other building industries are struggling.
"Strong residential building activity held the overall construction sector above water in September, overshadowing a fall in commercial construction and further contraction in the engineering construction sub-sector," noted head of policy at the Australian Industry Group Peter Burn.
Apartment building recorded its highest growth rate in the past 13 months, suggesting demand for high-density living is still particularly strong throughout the nation.