Residential buildings drop for October

The number of building approvals for the month of October slightly dipped by 1.8%, but the Housing Industry Association has declared that there is no need to worry.

The drop comes after the residential building sector had its three and a half year high for the previous month of September. There were variable results for October across states, where Victoria posted the strongest result in building approvals at 23.4%, with West Australia dropping by 6%.

With the strong demand for property, and with the recent announcement by the Reserve Bank of Australia, property builders should still be on their toes as the next year shows a lot of promise for new home buyers.

Read more about this on the Real Estate Business website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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