Multi-speed residential sector revealed
The multi-speed nature of Queensland’s residential sector is demonstrated by the August 2012 regional building approvals, housing and construction body Master Builders says.
Master Builders Director Housing Policy, Paul Bidwell, said that once again, regions with a resources industry presence, like Mackay, Central Queenslandand Darling Downs & South West Queensland, remain relatively strong.
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“Like last month, areas that remain a concern are South East Queensland and Far North Queensland,” he said.
“We are mindful that there is potential for some of the heat to come out of the resources industry causing a slowdown of approvals in the coming months in response to recent mine closures and layoffs.
“We must also bear in mind that building activity levels are coming off a very low base. There were 26,482 dwelling unit commencements in 2011–12, the lowest level of dwelling starts in more than 10 years.
“Overall, Queensland fared much better this month, with a rise of 1.8% in total dwelling unit approvals, which was welcome after the massive drop of 19.7% last month, and we are optimistic about the medium-term prospects for our industry.
The change in new dwelling unit approvals between 2011 and 2011 reached a staggering 220.2 per cent in Mackay, while in greater Brisbane approvals changed by -37.3 per cent.