Central Queensland's building industry claws its way back
STRONGLY in step with with a growing confidence in the building industry, Brett Louttit and his team of carpenters hardly had time to rest their nail guns this week.
That's because they were busy working on a number of construction developments around North Rockhampton.
Hotondo Homes chippie Luke Scott on Thursday drilled and hammered away on the construction of a new house in Hansen St, Frenchville.
Brett, who is Rockhampton's Hotondo Homes franchisee, said the market for new and existing property development was steady and slowly making its way out of a black hole.
Brett has two major home developments: the one in Frenchville and another in Thozet Rd, Koongal, which is almost complete.
Confidence in Central Queensland's building and construction industry surged during the past quarter, according to Master Builders' September quarter survey of industry conditions.
Master Builders CQ regional manager Dennis Bryant said the surge could be attributed to the strong federal election result in September and favourable economic conditions.
The report found that while conditions in the residential and commercial sectors eased during the quarter, they remained fairly strong by historical standards and were forecast to improve during the December quarter.
"Master Builders is also confident that the improving outlook will translate into increased housing activity in the coming months, on the back of positive factors such as low interest rates, solid population growth and stable employment figures," Mr Bryant said.
"In a welcome development, despite a sharp fall, turnover and profitability are expected to improve in the December quarter 2013 and return to satisfactory levels."
The most critical constraint on business growth was the availability and cost of finance.
Industry confidence outlook by region
Sunshine Coast - 71.7%
Far North Queensland - 69.8%
Brisbane - 68.3%
Gold Coast - 68.2%
Central Queensland - 61.4%
Mackay - 52.9%