GOLD COAST HOUSING RECOVERY IN SIGHTS

Written on the 8 July 2013

GOLD COAST HOUSING RECOVERY IN SIGHTS

THE Gold Coast housing market is picking up but it’s not time to crack open the champagne just yet, say experts.

Queensland building approvals have increased last financial year, with Gold Coast approvals up 21 per cent, from 213 to 258.

But fragile consumer confidence is still a problem, says Master Builder’s deputy executive director, Paul Bidwell.

“While the figures are positive we don't expect to see a substantial increase until this rebounds,” says Bidwell.

“That being said, it is encouraging to see the total dwelling unit figures are 7.1 per cent higher than at the same time last year.

“And, for the first time in some months, regions are generally showing positive growth.”

In Brisbane approvals were up by 11.4 per cent from 1,155 to 1,287, while on the Sunshine Coast approvals were up by 8.9 per cent from 128 to 139.

“However, it continues to be a problem for the industry that potential buyers will not buy a home until they are confident about job security and finance, and this is all tied in with the looming federal election,” says Bidwelll.

"In the regions, building approvals dropped in Darling Downs and North Queensland, although we do not see any underlying weaknesses in these areas.”

“Burnett Wide Bay, Far North Queensland and the Gold Coast had decent lifts, but they were coming from a low base.”

“Central Queensland and Mackay also had good increases, even though some heat is coming out of the housing market in those areas.”


Latest News

THE STAR'S STUNNING ANSWER TO CROWN'S BARANGAROO

THE Star Entertainment Group (ASX:SGR), not to be outdone by James Packer's Barangaroo development across the ...

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, w...

SUPERYACHTS OFFER UNTAPPED POTENTIAL AT COMMONWEALTH GAMES

SUPERYACHT Australia has devised a strategy to attract more superyachts to Queensland and capitalise on revenue op...

GDP FIGURES A 'WAKEUP CALL' FOR PARLIAMENT

THE GDP figures are an end-of-year wakeup call for Parliament about what lies ahead for the country, according to ...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter