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Rising multi-unit approval figures highlight investment opportunity in Queensland

By James Brown

Rising approvals for property across Queensland could offer a wonderful opportunity for anyone interested in purchasing investment properties in the near future. However, an interesting figure to be observed in the state was the rising number of multi-units being approved in the region, which has grown considerably over the last 12 months. 

This could offer a great chance for purchasing multi-unit real estate in Caboolture, especially with the population expected to grow over the coming decades. 

Housing Industry Association executive director Warwick Temby said both detached and units are experiencing growth, which could present a wonderful opportunity over the coming years. 

"Home building approvals are up 13 per cent in Queensland for the June quarter when compared with the June quarter of 2013. Detached home approvals are up 12 per cent and multi-units up 16 per cent over this same period," said Mr Temby in a 1 August statement.

He went on to state that the onus for continued development rests with local governments and the speed of land release. Keeping the rate of approval high will help to continue the developing industry, with providing accommodation for residents highlighting an investment opportunity in the near future. 

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