Building approvals continue upward trend

BUILDING Approvals remained strong in October, providing further good news for Queensland's building industry.

Deputy executive director Paul Bidwell said the total number of dwelling units approved rose by 10.5% from 2937 in September to 3245 in October (seasonally adjusted).

"This increase follows on from last month's rise of 3.7 per cent, making it the fifth consecutive month for growth, which is definitely good news," Mr Bidwell said.

"The figures also represent a massive 47% increase from October 2012.

"However, despite our positive outlook, we must put these figures into perspective.

"Private sector houses lost some of the ground made in September, falling by 0.5% from 1575 in September to 1567 in October.

"At a regional level, the news was positive for most regions, with the Sunshine Coast a clear front runner for both the last month and year, recording a 73% increase from September 2013 to October 2013 and a massive 151% increase over the 12 month period."

North Queensland, Brisbane and Far North Queensland also recorded healthy improvements over the year, while Darling Downs and South West Queensland and Gold Coast recorded moderate increases.

Burnett Wide Bay, Central Queensland and Mackay and Whitsunday were the only regions to soften over the 12 months.

Darling Downs and the South West showed a rise from 160 in October last year to 185 in October this year, up 16 per cent.

Mr Bidwell added while the softening was disappointing, it was unsurprising in the resource-driven regions, where residential building activity has fallen in line with resources activity.

Topics:  building construction house property

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