Thanks to the changing perspective regarding dwellings in the upcoming generation, there has been a steady rise in the number of new home builders. New age investors have joined the wagon which was mostly jumped on by middle-aged people until now. The percentage growth is decent at 7.1 for the financial year 2013-14.
The dwelling index
Dwellings, in all centuries, have run a semantic trend, rising to the occasion; reaching saturation point and then giving way to another type of dwellings. New home dwellers, seeing vast potential in property investment, are putting in their wallets where the cement is. The article verily puts down that this phenomenon has effectively resurrected the construction sector, which saw a decline in 2012.
Rising percentage, falling percentage
Yes, the percentage growth is comparably low to what was the figure last year (10.1%). Yet, the manner in which this has catapulted various sectors such as manufacturing, retail, supply and distribution is noteworthy. Analysis suggests that the new home building trend will touch its zenith in the coming year (2014-15) after which it will come down a bit.
This is bound to boost new energy into financial schemes and other sectors as monetary viability will seem a more distinct possibility in various fields. Property investment, with some discretion, is considered a pretty safe move globally, not just in Australia.
Inclination of new home dwellers
People are upgrading their residential tastes and going for streamlined homes, luxurious homes and safe homes and smart home renovation as their pocket guides them. They are beginning to probe into lands which are potential goldmines and rooting to sign contracts with a building contractor for their first homes. This has boosted national economy appreciably and things are looking green at the moment.
In my opinion, the government should give proper fillip to new home builders to bring in more investors into the map, something which they agreeably done over the last few years. The due diligence, logistics and legal formalities should be made smooth for the new guns with enough money but little experience.
Bring in new age investors
Steps should be taken so as to entice them to buy apartments and lands in a fair ratio. Of course, improving accessibility and environment quotients will also help Australia’s cause.
What blockades are the new home builders most likely to come across in their quest for lands and properties?
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