Queensland has hit its highest yearly total of new dwelling approvals in a decade, signalling that industry's successful advocacy for productivity-boosting reforms is delivering results.
Fresh figures from the Australian Bureau of Statistics (ABS) show that in the year to June, building approvals for new units jumped +49.6 per cent, while detached home approvals rose by +8.6 per cent, bringing the total number of new dwellings given the nod to 47,623.
Growth was centered in the South East, with the Gold Coast (+85.6 per cent) and Downs & Western (Toowoomba, at +59.4%) the standout performers over the past 12 months. Most of the remaining regions tracked upwards, the Sunshine Coast the exception at -0.4 per cent.
Most regions also experienced an upward trend in approvals in the June quarter, when Greater Brisbane led the way at +36.2 per cent. The one exception was North Queensland which appears to have peaked, down -10.9 per cent across the three-month period.
In the month of June alone, the total number of units given the green light soared by a staggering 82.6 per cent – and detached home approvals also increased by 4.5 per cent.
“It’s no coincidence that as the new building approvals tracked upwards over the last 12 months, the state government answered industry’s calls by delivering significant reform,” Master Builders Deputy CEO Michael Hopkins said.
“However, with the monumental task of building 1 million homes by 2044, and a $119 billion pipeline of public infrastructure to complete over the next four years, we’re not there yet. We need to increase the momentum by pulling every lever possible.
“That includes bolstering our workforce by welcoming more tradies from overseas – and smoothing the licensing pathways to get interstate workers and skilled migrants on the tools faster.
“There is more red tape to be slashed. The Queensland Productivity Commission (QPC) recommended getting rid of the overly complex project trust accounts and replacing them with security of payment measures that work. This would help cut costs, reduce delays and strengthen protections for subbies. So far, government has only noted this recommendation. There is also the need to modernise the rules of building in the National Construction Code (NCC).
“We are continuing to support the work of the CFMEU Administrator and cooperating on the Commission of Inquiry’s proposed Queensland Construction Code, to further boost productivity and give taxpayers better value for money on public projects.
“We have already welcomed action on the QPC’s recommendations, including the new Queensland Housing Code for local governments to adopt, some fixes to the livable housing and energy efficiency changes in NCC 2022, and greater financial support for small businesses to take on apprentices.
“We need to do everything in our power to streamline planning and approvals, and help industry build more quality homes sooner, safely, and more affordably.”
