Vibrant year for new-home market

first_imgBrisbane’s new-build market is set to fire in 2017. Picture: Jodie RichterTHE Housing Industry Association (HIA) says their latest analysis confirms 2017 will be a great year for new Brisbane property.The comments follow the release of their latest New Home Sales Report which reveals Queensland saw increased sales activity at the end of 2016.The figures show a jump of 8.8 per cent in new-home sale volumes during the final quarter of 2016 – an increase of 1.6 per cent on the previous year’s result.Warwick Temby, a director at HIA Queensland, said property market naysayers would be proved wrong.“I think it’s telling you that the market is vibrant and there’s still lots of opportunity there as either a homeowner or an investor, and that all of the doomsayers out there who are predicting bubbles bursting and all that sort of stuff have got it wrong again,” he said.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor9 hours agoMr Temby said a combination of increased land supply and continued low interest rates are helping fuel buyer enthusiasm, while alternate investment opportunities are weak in comparison.He said these positive outcomes also have a flow-on effect to the renovation market too.“People don’t have to worry so much about the risk of overcapitalising and that sort of thing.”While his comments around detached housing are bullish, Mr Temby is more reserved about the new apartment market.He said this sector is due for a correction with the supply of new apartments having reached saturation point.“The apartment burst has happened – there are still a lot of apartments under construction.“The new stuff coming onto the market has started to slow down dramatically already and we expect to see that continue for a while yet.”last_img read more