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Sustainable Housing Recovery Predicted for QLD

By James Brown

Hopes are high for a sustainable housing recovery across Queensland, with some markets performing better than expected at the start of 2014.

Across the state as a whole, building approvals have experienced a rise of 37 per cent – detached houses have seen a 10 per cent rise and 75 per cent for multi-unit constructions.

"The home building industry has the capacity to manage this expected jump in activity and is looking forward to a sustainable recovery in employment over the year," said the HIA's executive director in Queensland Warwick Temby.

The HIA noted that some cities linked to the resources sector saw their peak in activity a year ago, with many more areas now following suit.

This could give rise to more applications for home loans in Caboolture as confidence returns to the wider market and the economy benefits from greater construction activity.

It recently emerged that the Titles Registry in Queensland received an average of 3,240 lodgements per day during December 2013, well above the daily average of 2,640 throughout the rest of the year.

Minister for natural resources and mines Andrew Cripps said the construction sector is crucial to the success of the wider economy, so these figures are especially welcome.

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