Building Approvals Rise Across QLD

By James Brown

The provision of houses for sale in Elimbah and other parts of Queensland should be greater than ever before, as new figures show building approvals have increased across the state.

Although nationally total residential approvals dropped 1.5 per cent in November 2013, the Housing Industry Association (HIA) explained there is still plenty of room for optimism.

Queensland has been identified as one of the strongest areas in terms of approvals, where an increase of 8.3 per cent was seen during the month.

This was in stark contrast to other parts of the country such as Victoria and Tasmania where falls of 17.4 per cent and 10.4 per cent respectively were registered in November last year.

"Overall, the level of building approvals is high and the latest update indicates that activity in the market continues along a rising trend," noted HIA senior economist Shane Garrett.

He highlighted that strong building activity is essential for supporting the wider economy, which is especially important in the present climate where uncertainty prevails.

As a result, policymakers need to consider making reforms wherever possible to give the construction industry the support it needs to be able to thrive.

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