The Housing Industry Association recently conducted the 2014 National Outlook report showing a huge boost in the residential construction sector. New dwelling commitments are forecasted to reach the 165,000 mark, meeting the current demand for property and filling in the gap left by the mining sector. This is the second time in a decade that the construction sector has reached this mark.
With high hopes that the Reserve Bank will keep the interest rates at bay, this should help strengthen the housing sector further. Strong market activity is expected from New South Wales, Queensland and Western Australia.
Read more about this on the Property Observer website.