Surge in building approvals bypasses regions
QUEENSLAND is on track for 13 per cent growth to 40,000 new dwellings in 2014- 15, while employment data says 23,000 jobs have been added since February.
Master Builders has welcomed improved building approvals but acknowledges declines have been recorded in most regional areas.
In North Queensland, based on Townsville, the peak building group said 1617 dwelling approvals were recorded in the 12 months to May compared with 1816 in the previous 12 months, an 11 per cent fall.
The biggest increases were at Greater Brisbane and the Gold Coast, where dwelling approvals jumped 26 per cent and 29 per cent respectively.
Statewide, the biggest falls of 61 per cent and 51 per cent occurred in the Mackay and Central Queensland regions where the mining downturn has hit local economies.
Master Builders executive Paul Bidwell said total dwellings approved for construction in Queensland increased by almost 4 per cent in May.
“With one month still to go, the year- to- date figures put us on track to reach our ambitious forecast for the financial year of 13 per cent growth and 40,000 dwelling commencements,” Mr Bidwell said.
State Treasurer Curtis Pitt said Australian Bureau of Statistics labour force data showed Queens- land added 3500 jobs in June, all of them full time, and that 23,100 fulltime jobs had been created since February.
“Queensland is the only state in the country to have recorded a fall on trend in the latest unemployment data from the ABS for June,” Mr Pitt said.
He said Queensland’s trend unemployment rate fell to 6.3 per cent in June, from 6.4 per cent in May.