Housing recovery gains hold

SOLID growth in home building activity has been confirmed by the home building approval figures for October released this week by the ABS.

HIA's Queensland executive director Warwick Temby said "approvals for the three months to October are up over a quarter on the same time last year".

"Approvals are a great leading indicator of activity on the ground, so (the) figures augur well for home building activity getting off to a solid start in the new year," he said.

"A pleasing feature of the data is that it shows the recovery in home building is now quite widespread across the State.

"The resources industry related areas like Mackay and Gladstone are the exception as their peak in activity has passed.

"Much of the growth in the level of home building approvals has come from the multi-unit sector.

"Growth in this part of the industry has been 59% over last year compared with 5% growth in the detached housing segment.

"Home building approvals (in seasonally adjusted terms) in October were at their highest level since April 2008."

Topics:  houses property real estate

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