Lifestyle

Rockhampton building industry on the verge of a recovery

ONLY WAY IS UP: Builder Adrian Price in one of the homes he is constructing.
ONLY WAY IS UP: Builder Adrian Price in one of the homes he is constructing. Allan Reinikka Rokabuildin

ADRIAN Price believes Christmas will mark the resurgence of the local building industry.

The manager of Ted Price Homes says he is already seeing signs that the industry is on the verge of a recovery.

His comments are mirrored by the Master Builders' Survey of Industry Conditions for the June 2014 quarter.

It shows improved residential and commercial sector conditions, despite a third successive downward adjustment in business confidence.

While the resources downturn continued to be felt in regions, including Central Queensland, business confidence and profitability are expected to improve in the September quarter.

"Things are looking better," Mr Price said. "They are not dazzling but they are picking up from where they were even six months ago.

"We need it to improve and we think the market can only go one way from here.

"It feels like we are starting on the upside of the cycle and hopefully things will pick up in the next six months. By Christmas-time, we expect to be back to a decent production level."

Mr Price said his company's bread and butter was investment properties and low demand had forced the company to shed several of its workforce.

Building approval figures released by the Australian Bureau of Statistics showed there were 112 approvals for CQ in June 2014.

There were 1648 approvals in the 12 months to June 2014, 50% down on the 3304 for the 12 months before.

Mr Price is hoping the approval of the $16.5 billion Carmichael Coal Mine and Rail Project near Clermont will help revive the investment property market.

"The mines have a big impact on Rockhampton. They employ a lot of people and we hope a lot of them move to Rockhampton as a home base.

"Hopefully, big projects like Carmichael will give confidence to investors to start spending again."

Topics:  building and construction, ted price homes



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