Business confidence and strength in real estate sector growing
Strength in hiring intentions will help spur the Australian economy and could provide the right conditions for existing homeowners looking to take out a mortgage refinance and upgrade to a better home.
As local economies around the nation are boosted by growth in business activity, certain suburbs may see house prices rise as consumer confidence grows and stronger employment figures make borrowing to buy a more viable choice for a greater number of Australians.
The number of companies that intend to hire employees in upcoming months has increased for the third quarter in a row, according to an April 1 statement from Dun & Bradstreet.
This statement comes on the back of Dun & Bradstreet's Business Expectations Survey, which found that employment hiring expectations rose 9.2 index points for the second quarter of 2014.
The figure is at its highest since 2011's first quarter and 0.1 points higher than a year prior.
"The view on hiring plans suggests that businesses are preparing for increased activity in the year ahead," Dun & Bradstreet said.
Not only are business hiring intentions opening up opportunities for a range of Australians, but the finance, insurance and real estate sector is doing well for itself, too.
Exactly half of the survey respondents expect a boost in sales activity for the June quarter.
Over one-third (38 per cent) expect higher profits. With more growth projected in the industry, existing homeowners may be in a favourable position. If house prices continue to rise in popular areas such as Sydney, Melbourne and Perth, existing property owners may see their home equity rise.
They can then consult with a cheap home loans expert to refinance their existing mortgage and use the equity in their current home to buy a better, more expansive property.