What building approval figures mean for the local economy.
What building approval figures mean for the local economy. Jodie Richter

GOING UP: More than $9m worth of homes approved

DWELLING approvals topped $9million in August across the Rockhampton and Livingstone areas.

Australian Bureau of Statistics figures show 27 houses and apartments worth a total of $9.4million were approved in the Rockhampton and Livingstone council regions in August.

The number and total value of approvals were up compared with July when 20 houses with a $6million value were approved.

Across the Rockhampton region 16 houses and two apartments valued at $5.5million were approved. In July, 11 houses valued at $2.9million were approved.

The number of houses approved in Livingstone remained steady at nine and the value increased from $3million to $3.8million.

Master Builders Queensland deputy CEO Paul Bidwell said construction remained a key economic sector in every community.

"Building approvals is a really important indicator of how the local economy is doing," he said.

"If people are living and working in the area, if industry is doing well, then people are going to be looking at building."

Mr Bidwell said almost all approved buildings were built, but construction commencement could take years.

"The correlation between approvals and construction is very high, around 99 per cent.

"If a developer is doing their job right, they shouldn't be applying for approvals for buildings that aren't going to get built." -NewsRegional



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