QLD

Alistair Walsh | 9 November 2012

Building approvals in Queensland resource areas continue to outperform others: HIA

Home building approvals in Queensland mining towns continue to outperform other areas of the state, according to HIA data.

The coal mining region of Mackay had the biggest increase in home building improvements in all of Queensland. There were 754 building approvals in the three months to September 2012, compared with 350 in the three months to September 2011, an increase of 115%.

Toowoomba was close behind with an increase of 53% from 154 approvals to 235. Townsville was next, with a 42% increase, followed by Gladstone-Biloela and Hervey Bay at 32%.

The Sunshine Coast and Gold Coast experienced the biggest decreases in home building approvals, dropping 28% and 29% respectively. Greater Brisbane and Cairns were next lowest at 19% and 16% respectively.

HIA director Warwick Temby says there is a clear connection between resource development and home building activity.

“Central Queensland and the Toowoomba regions have experienced double digit growth in home building over the last 12 months. This is overwhelmingly positive news for an industry that has struggled to climb out of a GFC-induced recession,” Temby says.

“But to have big impacts on employment in the industry the growth that has been seen in the resource areas needs to take hold elsewhere in the state.

“The budget’s $15,000 for first-home buyers who are building has increased inquiry for new homes and it is expected that this will flow through into orders in the coming months.

“HIA is forecasting that combined with lower interest rates this boost for first-home buyers will underpin a broad-based lift in home building across Queensland in 2013.”

p top listings

Take luxury city living to a new level