With the recent data that shows high demand for property, shouldn’t the construction industry follow suit?

The Reserve Bank of Australia expected that low interest rates would stimulate the construction industry, but data from the Australian Bureau of Statistics show otherwise. Although there is an increase in completed residential construction as of June 2013 at 4.3%, the increase still falls flat below expectations as the value of work done has slightly increased only by 0.1% from the March quarter to the June quarter of this year.

But, it is still premature to write off this sector as there are a number of key points that make the residential construction industry promising.

According to a report from the Sydney Morning Herald, the trend is increasing for building approvals and the biggest share in job growth from June to August of this year comes from the construction industry at 56,000 jobs – the biggest increase experienced for the past decade.

Read more about this on the Property Observer website.

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Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.