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Rising national approvals highlight growing property market

By James Brown

If you're sitting on the fence about getting your Caboolture real estate development plans enacted, now could be a great time to revise your concerns and jump into the market. The latest release by Master Builders Australia (MBA) has detailed how dwelling approvals have risen by 14.5 per cent over the last year – including a 3 per cent growth during August alone.

MBA chief economist Peter Jones said this was great news for the nation's property market, which came down to one major issue – a lack of property supply, especially as the population begins to rise nationwide.

"The jump in building approvals must be seen as a positive in boosting new housing stock to keep a lid on house prices and ensure affordable home ownership," said Mr Jones in a 2 October statement. 

He went on to state that changing rules and legislation would do very little for the future of the sector if the source of the problem wasn't addressed first. 

Specifically, Queensland saw a 2.7 per cent rise in dwelling approvals during August, which could offer incentive for investors and owner-occupiers alike to take control of their property goals and begin looking into the approval options available in their local community.

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