Home ownership offers the key to happiness – wherever we find it
Leading economic indicators suggest 2007 will be ‘more of the same' as we gallop through our 16th consecutive year of economic growth. The Westpac-Melbourne Institute leading index of economic activity – points to accelerating economic conditions for the rest of the year, potentially with economic growth rates well above average.
We are certainly not out of the woods as far as interest rates are concerned, but on the plus side, the job market continues to boom, bringing unemployment levels to a thirty-year low.
The prosperous economic outlook is certainly filtering through to the property market and according to the Housing Industry Association (HIA), the more stable interest rate environment of early 2007 is helping to lift sales of new homes across the country.
HIA figures show the sale of new homes and units among Australia's largest builders and developers increased by 2.9 per cent in February to 8,193 dwellings. Private detached house sales rose by 3.9 per cent. Continue reading >> |