HOUSE construction in central Wodonga has jumped by more than 30 per cent in 12 months, with builders expressing their confidence in the Border market.
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Latest figures from the Housing Industry Association show inner Wodonga’s new home approvals rose from 298 in 2013-14 to 392 the following year.
The Wodonga-Alpine region overall recorded 566 approvals in 2014-15, up 19.9 per cent from the previous total of 472.
This included increases for Bright-Mt Beauty (82.1 per cent), Chiltern-Indigo Valley (10 per cent) and Towong (16.7 per cent).
Albury’s new home approvals climbed by 20.2 per cent, from 446 to 536, in the same period.
Within this, growth occurred in Albury-East (31.7 per cent), Albury-North (66.7 per cent) and Albury Region (31 per cent) but Lavington (-1.9 per cent) and Albury-South (-44.4 per cent) experienced reduced activity.
Among other regional results were Upper Murray (19 per cent), Moira (15.8 per cent) and Wangaratta-Benalla (-3 per cent).
Several Albury-Wodonga building companies this week nominated Thurgoona as a present hotspot for new home construction.
Peter Bowen Homes sales manager Peter Brown said lower interest rates, job stability and the NSW first home owner grant all contributed to the Border market’s consistent growth.
“There's a large number of people moving out of the capital cities and retiring or semi-retiring to the Albury area and we're particularly noticing that in the lifestyle-type blocks, the higher end market,” he said.
Builder Gary Hosie, of Dixon Homes, said construction linked in with land supply.
“It goes in spurts depending on when the land's released,” he said.
“People need to be aware that the land might not be ready, it could take three to four months before you can start your home.”
Builder Jim Carroll, of Hotondo Homes, said the market included first home buyers, people upgrading to a bigger house, those moving into the area and investors.
“There are people sitting, waiting for a couple of subdivisions at the moment because they like the area,” he said.
Hadar Homes sales manager Travis Cartwright said many home builders were buying land earlier, before titles had been issued, which created urgency that spurred on the market. Convenience influenced most people.
“When you buy a block of land now, you're almost buying everything that goes along with it,” he said.
“You want to set up around that little triangle of work, home, schools, supermarkets, what have you, so estates that are close to those things are very popular.”