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Housing approvals increase across South Australia during January

12 Mar 14

The number of housing approvals in South Australia experienced a strong degree of growth at the beginning of the year, which could be great news for the strengthening real estate industry across the state. These developments could be great for those undertaking real estate training, with the increasing supply of properties helping to propel the industry further. 

Approval rates across the state are beginning to reach levels last seen in the 2000s, with the Housing Industry Association (HIA) highlighting the seasonally adjusted growth rate for the state reaching 10.5 per cent in January - with an overall high of 1,059 approvals for the month. 

This figure takes the number of approvals for the three months to January to a level 19.6 per cent higher than the previous quarter. HIA Executive Director (SA) Robert Harding said this growth was encouraging to see in the region, especially with the the real estate industry expected to become an important driver for the state's development. 

Mr Harding said it could be interesting to see how the industry continues to grow following the conclusion of the state government's housing construction grant in December last year. 

"While the grant's conclusion does present some degree of uncertainty, the latest approvals results are signalling improving prospects for South Australia's residential construction sector in 2014," said Mr Harding in a March 4 statement. 

With the number of approvals increasing across the state, the region seems to be maintaining itself well in lieu of the government's financial aid. Now could be the perfect time for people to consider building their own home in South Australia, in order to help provide economic stimulation for the area and strengthen the region overall. 

If you're interested in seeking real estate advice in South Australia, get in contact with the experts at REISA to discuss the options available to you and gain and insight into the area's growing industry.