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Housing activity slow with approvals yet to take off

THINGS are not quite as rosy as they seem in Rockhampton when it comes to new housing, says Housing Industry Association Queensland executive Warwick Temby.

Home building approvals show momentum in the new housing industry across most of Queensland according to the Housing Industry Association.

However, in Rockhampton, 194 dwelling approvals were recorded from July to September 2012, and 196 in the same period this year.

"Rockhampton will be affected by the slowdown in the resources sector... we just hope low interest rates will keep it bubbling along," Mr Temby said.

Rockhampton saw a 1% rise in building approvals, while Gladstone and Mackay suffered large drops - -30% and -28% respectively.

However, places such as the Gold Coast and Cairns saw an 89% and 54% increase respectively.

Mr Temby said ABS home-building approval figures confirmed a solid recovery was emerging in most of Queensland.

"After many years in the doldrums it is encouraging to see home building approvals up by 19% in the September quarter this year over the same time last year.

"With the exception of areas like Mackay and Gladstone... growth in home building activity has spread to most parts of the state.

"It is especially pleasing to see the Gold and Sunshine Coast markets, which had been particularly hard hit by the GFC... showing solid signs of recovery," Mr Temby said.

He added there was still a long way to go for the Queensland industry to get back to the levels of activity that were needed to house the growing population.

Topics:  building approvals construction market property real estate



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