Housing Industry Association highlights growth in property real-estate

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According to the Housing Industry Association’s (HIA) the national outlook is set to improve right across the housing industry and is expected to continue throughout 2014.

The HIA report highlights growth in residential construction investment, an increase in new dwelling commencements and an improvement in renovation activity.

HIA senior economist Shane Garrett says while he expects the property market across Australia to improve, states such as Tasmania and Victoria will still face challenges.

“We believe the RBA will leave its interest rate unchanged for the remainder of this year and this will underpin strengthening activity in housing and arrest the deterioration in housing undersupply experienced over the past decade,” Garrett says.

Garrett says “an improvement in the housing industry will support economic growth as reforms to planning, infrastructure charges and taxation assist growth”

It is obvious that Queensland is going to be a real mover in the coming years as growth is expected to climb to new heights after the last couple of years being sluggish,  But with the excellent value of properties and the Queensland climate and lifestyle appealing to more people it is sure to improve in leaps and bounds.