Build­ing ap­provals worry de­vel­op­ers

Townsville Bulletin - - Investor - by Tony Rag­gatt tony. rag­gatt@ townsville­bul­letin. com. au

THE de­vel­op­ment in­dus­try is con­cerned by an­other sharp drop in home build­ing ap­provals at Townsvill e al­though con­struc­tion work­ers ap­pear to be weath­er­ing the storm by tak­ing jobs in com­mer­cial build­ing.

Even so, in­dus­try lead­ers are warn­ing Townsville risks los­ing much-needed skilled labour to other ar­eas.

The Ur­ban De­vel­op­ment In­sti­tute of Aus­tralia re­leased its lat­est quar­terly De­vel­op­ment and Con­struc­tion In­dus­try Per­for­mance Re­port this week.

It shows home build­ing ap­provals across Queens­land are at their low­est level in 28 years, caus­ing the loss of al­most 8000 full-time po­si­tions in con­struc­tion.

At Townsville, where an early and ex­tended wet sea­son halted work, home build­ing ap­provals were the worst in the State for Jan­uary and Fe­bru­ary.

The re­port says ap­proval num­bers in the north­ern sta­tis­ti­cal divi­sion based on Townsville had im­proved from the lows of De­cem­ber 2008 when the global fi­nan­cial cri­sis hit but crashed in the three months to Jan­uary 31, fall­ing 54 per cent from the av­er­age recorded be­tween 2006 to 2008.

The re­gion recorded 201 ap­provals for the pe­riod against a long-term av­er­age of 434.

The in­sti­tute’s Townsville branch pres­i­dent Pat Brady said the lower fig­ures had con­tin­ued i nto Fe­bru­ary with 35 recorded for the month.

‘‘ The num­bers show that for two months in a row, our hous­ing mar­ket is worse than Cairns, and the worst re­gion in the State,’’ he said.

‘‘ Thank­fully, our com­mer­cial ap­pli­ca­tions are de­liv­er­ing some mea­sure of con­fi­dence, pro­vid­ing some job op­por­tu­ni­ties for the var­i­ous work­ers in this in­dus­try.

‘‘ We are hopeful that these num­bers for both Townsville and Cairns are at­trib­ut­able to the re­cent flood­ing and cy­clone im­pacts and will re­turn to nor­mal lev­els once this re­gion re­cov­ers.’’

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.