UNIT APPROVALS RISING

Written on the 2 August 2013

UNIT APPROVALS RISING

GOLD Coast high-density housing approvals have been boosted by heartening Australian Bureau of Statistics figures.

Its latest building approvals figures show an 11.1 per cent increase in total dwelling unit approvals since 2012.

Gold Coast regional manager John Duncalfe says the Coast’s total unit approvals were up from 2,322 in 2011 to’12 to 2,579 in 2012to ’13.

“It is a welcome development to see the Gold Coast recording an increase over the 12 months, signaling an upturn for one of the hardest hit regions in recent years," Duncalfe says.

"State-wide, the improvement in total dwelling unit approvals appears to have been driven largely by a recovery in attached (and) higher density dwellings, rather than detached housing and public sector funded dwellings.

“This is a welcome development, given that higher density developments have been a key area of weakness over the last few years.

“It is also the third month in a row that Queensland has seen an increase in dwelling approvals, which is a great sign that activity is heading in the right direction.

“This is in stark contrast to the national trend, which has been negative for the last couple of months."

Duncalfe says confidence remains a major roadblock to recovery, despite the gradual overall increase in approvals.

“While Queensland is by no means near the levels needed to accommodate the growth in population, we have seen a gradual recovery in housing construction in the first half of 2013,” he says.

“However, consumer confidence remains fragile and we don’t expect to see a substantial increase in activity until this rebounds.”


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