Building Approvals skyrocket in SEQ
Published: 15 January 2016
Queensland regional building approvals are operating at two speeds, with South-East Queensland recording positive results and much of the rest of the state experiencing a slowdown during November.
Hot on the back of the Commonwealth Games preparation, the Gold Coast recorded an almost 51 per cent increase for the past 12 months,while Greater Brisbane was up by 33 per cent, and the Sunshine coast up 32 per cent according to figures released by the Australian Bureau of Statistics.
Resource-based regions Mackay & Whitsunday and Central Queensland are still struggling from the slowdown, with -59 per cent and -51 per cent respectively.
Master Builders manager policy and economics Dyan Johnson said despite the results being polar opposites for SEQ and the rest of regional Queensland, the longer-term outlook remained strong, particularly for SEQ.
“Unit approvals have been largely responsible for pushing up the figures in SEQ,” Ms Johnson said.
“Generally, approvals for the past 12 months are still strong, with total approvals for Queensland up by 26 per cent (seasonally adjusted).”