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Hike In Dwelling Approvals Is Welcome News

dwelling approvalsConsider Michael Yardney an optimist when it comes to predicting about the property market in the year 2014. In an article for the Property Update, Yardney takes us through the welcome hike in dwelling approvals.

The private sector has recorded an 18% increase in approvals and it just goes to prove that the government’s move to infuse life into the construction industry through reduced cash rate seems to be working.

New home sales have shot up by 7.5% during November 2013. This includes a rise of nearly 30% for multi-units and 3.6% for detached houses. September-November exhibits a hike in new home sales for all 5 surveyed states.

You can read the original article here.

How do you see first home buyers performing in Q1 of 2014?