Recent data release by the Housing Industry Association (HIA) has found that the building recovery that began during the final quarter of 2013 has continued well into 2014 and shows no signs of slowing down. This could be great news for anyone interested in building their own Surfers Paradise property in the near future.
HIA Economist Geordan Murray said the number of dwelling commencements rose by 8.2 per cent during the final quarter of 2013, as the building industry ended last year on a high note.
"Original figures show there were 47,326 dwellings commenced in the December quarter which was the strongest quarterly result since 2002, even surpassing the highs during the period impacted by the global financial crisis stimulus," said Mr Murray in an April 16 statement.
Queensland was one of the states driving this recovery during the final quarter of 2013. Dwelling commencements grew by 15.8 per cent over the December quarter, equating to around 9,233 new properties over the period. This growth has been expected to continue throughout 2014, with a rising number of apartments becoming apparent through the data.
This could indicate a fantastic opportunity for investors to secure real estate in Surfers Paradise, which could be a great move for your portfolio's future.
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