BUILDING APPROVALS RISE AT STATE-TOPPING RATE

BUILDING APPROVALS RISE AT STATE-TOPPING RATE

BUILDING approvals on the Gold Coast rose by 22 per cent in the 12 months to December 2014, outdoing rises of 20 percent in Brisbane and 18 per cent on the Sunshine Coast.

Nearly 4300 approvals were issued in for the Gold Coast in 2014, compared to 3500 in the previous year, although the area suffered a 17 per cent drop between November and December.

Approvals across Queensland rose by about 10 per cent in 2014.

Master Builders deputy executive director Paul Bidwell says the state-wide results are "patchy" and demonstrate the need for political stability in Queensland.

"These dwelling approvals highlight the need for a quick resolution to the current political situation," he says.

"Uncertainty around government has the potential to impact business and consumer confidence.

"We're keen to welcome the new government, whatever the outcome, with the view to working hand-in-hand to maintain a strong focus on building industry reform."

Approvals in metropolitan areas rose by about 20 per cent in 2014, but approvals halved in central Queensland and Mackay.

About 35,000 approvals were issued across the state in 2014. More than half of these were in Brisbane, and more than 80 per cent were in the southeast. 

Far north Queensland recorded a rise of about 25 per cent, and was one of the few regions to see approvals rise between November and December.

"Brisbane, the Sunshine Coast and Gold Coast continued to lead the pack, but far north Queensland was the star performer," says Bidwell.

Get our daily business news

Sign up to our free email news updates.

 
Finexia’s Childcare Income Fund secures ‘very strong’ rating from Foresight Analytics & Ratings
Partner Content
Private credit specialist Finexia Financial Group (ASX: FNX) has secured a “very...
Finexia
Advertisement

Related Stories

‘Toxic culture’: Whistleblower’s complaint hangs over The Star’s former CEO

‘Toxic culture’: Whistleblower’s complaint hangs over The Star’s former CEO

Robbie Cooke, the former CEO of The Star Entertainment Group (ASX: ...

Japanese investment in Australia hit record high of $133.8 billion in 2023

Japanese investment in Australia hit record high of $133.8 billion in 2023

Japanese finance has been described as one of the "great untol...

Melbourne-based diversity data analytics platform raises $6 million

Melbourne-based diversity data analytics platform raises $6 million

In response to "unprecedented demand" for its propri...

Tasmanian sustainability accounting startup Sumday raises $5.3m

Tasmanian sustainability accounting startup Sumday raises $5.3m

"The future of accounting includes carbon" is the message...