Australia is growing higher. The booming housing constructing in Australia is a sign of encouragement of the cost estimators, construction experts and construction investors. The experts say the growth is steep and it will sustain for at least another five years.
Some recent studies indicated that is grow began six month ago and is positioned on the top now.
The Brisbane property market is getting the perfect momentum but it was average and underperformed until 2008.
“The residential construction in Australia is in a feel-good situation. We have a tail wind behind us; we have the wind at our backs for a change after many years of struggling since the GFC,” Kim Hawtrey, the Associate director of BIS Shrapnel. It is rare in Australia’s economic history.
Even some of the experts cannot believe that it is such a surprising development in the construction industry in Australia.The reason is the setting up of 100,000 houses throughout the country. The state of Queensland has raised over 20,000 buildings. What is being seen here now is the legacy from the GFC .
But the demand are there. T he deficiency of dwellings and the underlying population growth, the dwelling building boom, is very sustainable indeed in Australia.
Consistent with that is the vacancy rate figure. Brisbane is at 2.3 per cent – significantly below the 3 per cent balanced rate so that is also consistent with our underlying demand reading suggesting there is a long way to go in this dwelling construction recovery.
Queensland’s housing building activity has been driven by the “other dwellings” sector which jumped 50 per cent to the year ended March 2014 – largely reflecting the demand for high-rise apartments. Disconnected houses picked up only 2 per cent during the same period.
While experts confirmed Brisbane as the powerhouse driving the upturn in the state’s residential building industry, strength is starting to return to the Gold and Sunshine coasts, while smaller centres like Toowoomba and Townsville are also picking up.