<p $$hash="7159-0"><span $$hash="7158-0">The Housing Industry Association (HIA) have linked the recent rise in new Australian property approvals to the heightened consumer sentiment.
<p $$hash="7157-0"><span $$hash="7156-0">It was reported that the number of building approvals across Australia rose by 3.1 per cent in February.
<p $$hash="7147-0"><span $$hash="7146-0">Geordan Murray, economist at HIA, said that the higher consumer sentiment may have filtered through to bring in more work to the construction industry.
<p $$hash="7149-0"><span $$hash="7148-0">He added: “After two consecutive months where approval numbers slipped back it is pleasing to see a material improvement in February,”
<p $$hash="7151-0"><span $$hash="7150-0">Recently, consumer confidence has been on the rise in the property sector due to the recent rate cuts from the Reserve Bank of Australia and the increase in property prices.
<p $$hash="7167-0"><span $$hash="7166-0">Over a number of months, the RP Data-Rismark Home Value Index has shown continued rises in property prices nationwide. Auction weekends in Melbourne and Sydney have seen high clearance rates, which shows that people have been eager to buy.
<p $$hash="7169-0"><span $$hash="7168-0">Posted by Ravin Chatlani
DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.
COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.