See which states housing markets are soaring

The Housing Industry Association (HIA) just published its Housing Scorecard report showing a ranking of the states and territories based on the performance of their housing markets.

According to an article by Finder, the bi-annual report benchmarks states and territories depending on their longer-term average across a range of metrics.

New South Wales is the leading scorer for the country’s housing markets.

“The large states dominate the top rankings in the latest HIA Housing Scorecard, with NSW extending its lead in first place thanks to a remarkable performance on the detached house side. In second place on the HIA Housing Scorecard, Victoria was particularly strong for home renovations activity but also did well on the detached housing side,” explained HIA senior economist Shane Garrett.

“Queensland grabbed the bronze medal with a solid showing on the multi-unit side.”

Although it performed strongly, Victoria went back a spot on the ranking list. This is because its state score fell nine points. South Australia saw the biggest change. Its state score climbed 26 points to move four places into the rankings.

“Probably the starkest result from the HIA Housing Scorecard concerns the volume of First Home Buyer loans, which have fallen well below their long-term average in each state and territory. The obstacles to housing affordability for first home buyers merit a national-led response,” Garrett said.

Always seek help from experienced professionals

Getting into the property market may be daunting, especially in a rising marketplace with high competition. The best way to manage your property investments is to consult the right experienced experts. Local professionals like real estate agents, conveyancers and lawyers are a good start.

If you need finance assistance on your property, a mortgage broker and financial planner will be able to direct you.

Need help getting started?

Whether you plan to rent, buy or sell, the support of good local property and real estate specialists can make all the difference.

Tradebusters Connect has a Top 3 Local Business Choice list of recommended property professionals in your local area to help you navigate the process.

Other Useful Links:

Mortgage Broker Paddington

Baulkham Hills Home Loans

Plumber Castle Hill

Painters Sydney

Electricians Sydney

Decks Sydney

Decks Northern Beaches

Conveyancer Sydney

Builders Sydney