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

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

GOLD COAST AIRPORT RECORDS STRONGEST PERIOD IN HISTORY

The Gold Coast Airport recorded its strongest April in history for passenger numbers, supported by a growing numbe...

THE TRAVEL STARTUP THAT EVICTED THE HOUSE-SITTER

YOU'VE used Expedia to book the flights, AirBnB to find accommodation, and Uber to get around in the new city and...

MELBOURNE'S $200M RIALTO PROJECT NEARS COMPLETION AFTER 10 YEARS OF PLANNNG

IT'S BEEN 10 years in the planning and had at least 10 different architects and has involved the acquisition o...

Related News

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

IT'S BEEN a big few days for medical cannabis manufacturer AusCann (ASX: AC8), as the company emerged from a trad...

APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

THE PROPOSED $1.6 billion merger between Australia's two largest advertising groups, APN (ASX: APO) and oOh!me...

ANALYSTS FORECAST A GRIM CHOICE FOR OROTON: SELL UP OR QUIT THE ASX

FOLLOWING a warning to the market and a subsequent trading halt earlier in the week which has shaved more than $11...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter