Houses are popping up all over the place and the amount of homes being built in Australia has hit all-time highs. Even more positive news is that a strong year is predicted for the building industry — great news if you’re looking at getting into investment properties with the added bonus of exceptional tax incentives.
According to the latest data from the Australian Bureau of Statistics there was more than $13 million worth of work on residential building or renovations completed in the 2014 December quarter. The figures also revealed this building activity was up 14.8 per cent on the previous year and 2.8 per cent on the September quarter. Interestingly work was started on 197,917 dwellings (units and houses) last year, which is up 17.5 per cent on the previous year and it’s also a record.
It’s clear the building industry is great for the economy — it creates jobs and accommodation (and if you’re an investor it provides some exceptional tax incentives). Industry experts are expecting the building industry to remain strong for the rest of this year.
What are your thoughts? Let us know in the comments below.
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