Being able to secure a home loan for Bulimba real estate is one of the first steps towards getting onto the property ladder – and it seems the market could currently be working in your favour.
Official data from the Australian Bureau of Statistics (ABS) shows housing finance approvals have increased once again across Queensland, making it the 20th month in a row a rise has been registered.
Throughout August, approvals were up 0.3 per cent in trend terms and increased 5 per cent compared to a year earlier, the ABS revealed.
State Treasurer Tim Nicholls noted: “It’s a particularly good result for Queensland because nationally there was a 0.2 per cent decline in approvals in August and a rise of just 1.2 per cent over the year in trend terms.”
He emphasised how house building is also particularly strong in the region, giving would-be buyers more choice when it comes to selecting a property.
ABS figures pointed to a 2.6 per cent rise in construction throughout August, leaving building levels up 13.2 per cent over the course of the past year.
This is particularly important as Queensland has been identified as one of the four pillars of the economy, so it suggests strength is returning to the region.