The next 12 months are shaping up to be productive for the property market, with new data from both the Australian Bureau of Statistics (ABS) and Master Builders Australia (MBA) revealing cautious construction optimism for 2014.
According to the ABS, the building of 163,250 new homes commenced over the 12 months leading up to September 2013, suggesting improved business confidence.
Meanwhile, MBA released figures that revealed a "turnaround in the industry outlook, particularly for residential building".
MBA Chief Economist Peter Jones said improvements in the building industry are likely to have a knock-on effect for the rest of the economy.
"Building activity looks set to rebound in 2014 on the back of a revival in sentiment that comes after an extended downturn," Mr Jones said.
"This should allow the building and construction industry to play a key role in rebalancing the economy in the wake of the resources boom."
Industry optimism may come as welcome news for those looking to purchase Bulimba real estate, as more new homes on the market could help to drive property prices down.
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