12 December 2018
NEWLY released data paints a gloomy picture of the situation faced by regional Queensland communities as building approvals drop 6.9 per cent in 12 months.
South-East Queensland data depicts a sunnier setting where approvals are up 2.3 per cent.
Master Builders Deputy CEO, Paul Bidwell said something had to be done about the worsening situation faced by the communities of regional Queensland.
“Facts don’t lie, this clear as day data supports our call for the State Government to bring back the $5,000 Boost to the Queensland First Home Owners’ Grant for our regions,” he said.
“And with mining royalties’ windfall expected to pour an extra half a billion dollars into the State ¬Government’s coffers this financial year, there is nothing stopping the Treasurer to reinvest the money back into regional areas.”
The $20,000 First Home Owners Grant was dropped back to $15,000 from June 30 when the money for the Boost was not allocated for in the FY18-19 State Budget.
“Regional Queensland needs a shot in the arm and the $5,000 Boost was that vital tool for first home buyers to get their foot in the door of the housing market,” Mr Bidwell said.
“Without the Boost, as the data shows, home ownership has been put even further out of reach.”
Over the past 12 months, the largest falls in building approvals were seen in North Queensland (down 31.2 per cent), and Central Queensland (down 30.4 per cent).
In Downs & Western approvals are down 20.7 per cent over 12 months whilst Wide Bay (down 8 per cent) and Far North Queensland (down 5.9 per cent) are also feeling the burden.
Mackay continues to enjoy good results (approvals up 72.1 per cent) but off a very low base.
“Building new homes injects money into the entire region of our communities. It creates jobs, boosts confidence and delivers economic growth where it’s needed most,” Mr Bidwell said.
“If we can bring back the $5,000 Boost, we can bring back prosperity for our regions, give would-be home owners a leg up and stimulate demand for regional Queensland.”
% change over MONTH
Total current 12 months
Total previous 12 months
% change over YEAR
Downs & Western
Wide Bay Burnett
Mackay & Whitsunday
Far North Qld
Source Master Builders & ABS
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