The great Australian dream still alive

Published: 13 December 2017

Standalone home building is on a positive trajectory going into the New Year, with the latest figures from the Australian Bureau of Statistics showing a promising 4 per cent rise in dwelling approvals over the last month.

Data for the 12 months to the end of October shows a three per cent increase in approvals for detached dwellings over the past 12 months – a sure sign that 2018 will be a good year for the housing industry.  

This is in stark contrast to approvals for units which have slumped – down 38 per cent over the past 12 months.

Master Builders Deputy CEO, Paul Bidwell said unlike the investor unit boom, which was confined largely to the south east, the demand for new detached dwellings is spread across much of regional Queensland.  

“Approvals are up in every region, except the Gold Coast and Central Queensland” Mr Bidwell said.

“The Gold Coast is being held back by a lack of land which we don’t expect to change any time soon.

“Central Queensland is still working through a historic oversupply, but the New Year should see the beginning of a reversal of their fortunes.

“The industry now needs to get on with the job of delivering the homes Queenslanders need. 

“We will continue to push the government to make this a priority, including introducing measures that will keep new housing affordable and further strengthen our industry.”