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Master Builders Australia has welcomed new housing finance figures from the Australian Bureau of Statistics, which indicate further recovery in the national real estate market.
According to Peter Jones, chief economist at Master Builders Australia, February saw a seasonally-adjusted two per cent increase in the total number of dwelling commitments - with construction commitments rising by 1.5 per cent.
These numbers, he said, are good news for the nation's property industry - but more increases must be recorded before this improvement can be considered by a long-term trend.
Builders, he said, are hesitant about the short-term - although in the long run, they are confident about a recovery in the industry.
An improvement in sentiment, explained Mr Jones, "will not pay the bills" on its own, and must be converted into measurable activity.
He stated: "The industry needs a sustained run of positive figures to cement a recovery and allow it to really build a head of steam. The concern is today's [April 15] figure could be another in the volatile series of rises and falls witnessed over the past year."
One way to further support real estate recovery is for further cuts to the cash rate to be made when the Reserve Bank of Australia's Monetary Policy Committee meets again in May.
