The Housing Industry Australia (HIA) Spring Outlook report for 2014 has shown that you should see more new real estate in Bulimba and Queensland. The organisation estimated a large increase in new home building for Australia, with Queensland also rising.
The HIA forecasted a huge 188,000 new dwelling commencements for 2014. This is 20,000 higher than 2013's total and would even beat the 187,000 record high of 1994. That seems to be where the growth stops nationally, as HIA placed the 2015 numbers at 183,900 and lower still at 177,300 for 2016.
Queensland has been seeing growth for a while. A small increase of 2.8 per cent in 2012/13 was dwarfed by a 20.3 per cent rise in 2013/14. This took the new home building numbers to just above 35,000. For 2014/15, the projected increase is not quite as massive, but at a still strong 8.4 per cent. However, national numbers, which are set to drop off, the HIA predicts that new dwelling commencements in Queensland will continue to grow again in 2015/16.
HIA Chief Economist, Dr Harley Dale saw these achievements as impressive, but was less optimistic in looking toward the future as these would have to be the average numbers to house Australia's growing and ageing population.
This continues to highlight the strength and importance of the housing market to the economy.