City slump blamed for state’s slow­ness

The Courier-Mail - Property - - WHO’SHOME - Michelle Hele

THE Bris­bane and Gold Coast mar­kets are hold­ing back the hous­ing con­struc­tion in­dus­try, ac­cord­ing to the Hous­ing In­dus­try As­so­ci­a­tion.

While there is ac­tiv­ity in Queens­land it ap­pears to be only re­ally hav­ing an im­pact close to our min­ing towns.

Un­for­tu­nately, the lift in ac­tiv­ity in these towns hasn’t flowed on to the rest of the state.

Ac­cord­ing to the HIA, the Bris­bane and Gold Coast mar­kets ac­count for more than half of all the home build­ing ac­tiv­ity in Queens­land and drops in in­ter­est rates and good of­fers from builders have not been enough to spark any lift.

The Sun­shine Coast has seen its ap­provals in­crease by 21 per cent from this time last year. Hav­ing said that, the mar­ket was in a pretty dire state at this time last year, so it’s com­ing off a low base.

Other strong per­form­ers were Her­vey Bay, Toowoomba, Mackay and Townsville in the three months to June. Mackay was a stand­out per­former with ap­provals ris­ing 129 per cent dur­ing the pe­riod.

The HIA reck­ons it’s buyer con­fi­dence that is miss­ing.

The lat­est Com­mSec re­port can see a shift in con­fi­dence in the right di­rec­tion.

It says na­tion­ally the hous­ing mar­ket is on the mend with con­struc­tion loans for owner-oc­cu­piers up 4.9 per cent in June – the best re­sult in al­most three years.

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