As new home building activity grew rapidly during the final quarter of 2013, Queensland was one of the state’s that experienced the largest degree of growth – highlighting the potentially ripe landscape for construction in the Caboolture real estate market.
Housing Industry Association Economist Geordan Murray said that data released earlier this week (April 16) illustrated that the nationwide commencement of 47,326 new dwellings during the December quarter was the strongest quarterly release since 2002.
“New home building activity in Queensland also grew strongly in the final quarter of 2013. It is encouraging to see the state’s housing recovery gathering momentum. Dwelling commencements lifted 15.8 per cent in the December quarter to around 9,233 in the quarter,” said Mr Murray in an April 16 statement.
“This is comparable with the healthy level of activity in middle part of the last decade. However, the composition of the dwelling types has changed markedly since then.”
According to the data, detached dwellings in Queensland only accounted for 54 per cent of total commencements in the state. This is the smallest share on record for the state and could highlight the changing accommodation trends occurring across the region.