Home
  • plan
  • Invest
  • Property
  • enquire now
  • Learn
Home
DPN
  • plan
  • Invest
  • Property
  • enquire now
  • Learn

Residential construction brings positivity to NSW

An economic revival in New South Wales has been greatly supported by the state's solid residential construction industry, according to the Property Council of Australia.

TAGS

Beginner (575) / Intermediate (540) / Expert (564)

An economic revival in New South Wales has been greatly supported by the state's solid residential construction industry, according to the Property Council of Australia. However, the industry commentator has also called for a revision of existing planning laws to push further infrastructure projects to success.

For Australian property investors, this is likely to come as good news. Building a portfolio in an area undergoing growth - and tipped for a favourable economic future - is essential to any wealth creation strategy.

So what is it about NSW that's producing positive results for the economy?

"A mix of well-targeted incentives, infrastructure investment, lower borrowing costs and favourable market conditions has helped NSW achieve its best housing starts in a decade," Property Council of Australia NSW Executive Director Glenn Byres said on October 20.

Mr Byres also explained that the broader economy performs well when the property industry does so. The state's property industry pays more than $16 billion in wages and accounts for one in ten jobs in the state, highlighting just how significant its contribution is.

However, while property investment opportunities in Sydney and elsewhere in NSW are attractive to investors, it's important to keep an eye on the ball.

"The real challenge is sustaining the current momentum – and the robust pipeline of current and next-generation infrastructure projects will fuel more investment," Mr Byres noted.

NSW recently shot to the top in the CommSec State of the States report, tipping Western Australia off its perch to claim the number one spot for overall economic performance.

Of the eight indicators analysed, NSW achieved a significant number of top places. It was dubbed the top state for new home construction, with starts a whopping 36 per cent higher than 10-year averages, CommSec explained.

Sydney's impressive 14.3 per cent year-on-year house price growth was also highlighted, which will no doubt interest those with their eyes on investment opportunities. 

By refinancing your home loan, you can start building your property portfolio sooner rather than later.

 


Follow us on Twitter for more news, tips and inspiration.
Like us on Facebook and Google+ explore our Pinterest boards.

Like this article or found it helpful? Share it!

Newsletter

Receive our articles directly to your inbox

Next article

Rental prospects for Australian property investors

Go to articles list

Programs

Work with us
Giving back
Become an affiliate
Refer a friend
Help desk
Property Management
Finance

Locations

Head office
Australia
Hong Kong
Singapore

Contacts

Toll free in Australia
P. 1300 723 318
Outside of Australia
P. +61 2 9525 2033

Social Media

Newsletter

Terms of use | Privacy policy | Guarantees

This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.