Im­proved prospects for builders

Whitsunday Times - - REAL ESTATE | NEWS -

MAS­TER Builders’ lat­est in­dus­try out­look for 2016 shows a boom­ing build­ing and con­struc­tion in­dus­try, with record num­bers of build­ing ap­provals.

Mas­ter Builders’ deputy ex­ec­u­tive di­rec­tor Paul Bid­well said the peak in­dus­try as­so­ci­a­tion had fore­cast 46,000 dwelling unit com­mence­ments for 2015–16. This equates to an in­crease of 4.5% on the 43,051 starts in 2014–15.

“In 2016–17 we es­ti­mate dwelling unit com- mence­ments will be­gin to level off, re­turn­ing to 43,000 starts,” Mr Bid­well said.

“Look­ing for­ward, the prospects for the res­i­den­tial sec­tor dur­ing the next 12 to 24 months are strong.

“The growth will spread fur­ther into the re­gions and across hous­ing types, par­tic­u­larly de­tached houses. Owner-oc­cu­piers will in­creas­ingly move into the mar­ket, while in­vestors will be­come more cau­tious.”

The lion’s share of dwelling ap­provals are for multi-unit de­vel­op­ments, up nearly 54% year on year.

For the first time in his­tory, ap­provals for mul­tiu­nits ex­ceed de­tached hous­ing.

But look be­neath the head­lines and there is more to the story, with great dis­par­ity across the re­gions.

Growth for the most part is con­cen­trated in south-east Queens­land. Cen­tral Queens­land, Mackay and Whit­sun­day con­tinue to strug­gle with lit­tle or no de­mand, while Townsville and Toowoomba/Dar­ling Downs are in the same boat.

The fore­cast for the com­mer­cial sec­tor is that 2015-16 will re­main flat.

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