Australia's Housing Is In Short Supply. Approved Housing Is Down 39%!
State governments are expected to increase funding for large infrastructure projects in 2018, according to federal and state territorial government budget data. In the budget released in 2017, the federal government has promised to carry out construction of large projects such as the West Sydney airport and the inland railway from Melbourne to Brisbane through equity financing. If you want to buy real estate, please contact us.
Thanks to national infrastructure spending, Australia's economy will take a big step forward in 2018, according to AMP. Experts expect GDP growth to rise to 2.7 percent in 2018 from 2.3 percent in 2017. With the sustained and rapid development of Australian economy, its real estate market will surely embrace an opportunity.
Australian condo construction is down 39%! Rent is soaring because of a shortage of supply.
The decline in new home construction in Australia has exceeded expectations in December 2017. Developers said tighter credit and construction financing had hit new apartment supplies. And it was the biggest monthly decline in supply since July 2012, mainly due to a 39 per cent fall in new apartment approvals - from 11,247 in November to 6,879. Apartment approvals fell across all five of the continent, with the biggest monthly declines in Victoria, new south wales and western Australia.
The total number of annual residential building lots as of December 2017 was 221,215, down from 234,155 in 2016 and 240,339 in 2015, according to the data. The number of approvals for new apartments, townhouses and semi-detached houses fell 10.8 percent to 103,417 from 115,976. It is reported that the housing batch has slowed down for two consecutive years since the peak in 2015. As the population of Australia continues to explode and the demand for housing surges, a decline in the supply of new housing will inevitably lead to a tightening of the vacancy rate and a rise in house prices and rents. There is a beach house for sale South Australia,
282 Templestowe Road, Templestowe Lower VIC 3107
$999,000
Land area774㎡
Hidden on a service road on the footsteps of breathtaking parkland in a central Templestowe Lower address, this excellent three-bedroom home represents an opportunity of a lifetime.
$442,650
Land area336㎡
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