The Housing Industry Association (HIA) believes there’s plenty of work in the home building pipeline, despite signs of new work peaking.
In the three months to January, HIA’s Queensland executive director Warwick Temby says new home building approvals in Queensland are down roughly 10 per cent compared with the same period the previous year.
“Activity on the ground this year is expected to stay at current high levels due to the amount of work at the start of the pipeline,” he says.
“There was also a huge month for multi-unit approvals on the Gold Coast in January last year, which makes the comparison with the current levels look unduly weak.
“The picture varies considerably, though, around the regions. The Sunshine Coast continues to power ahead, with approvals up 29 per cent on the same time last year. Other regional markets are not faring as well.
“Another bright spot for the industry is that after a prolonged post-GFC downturn in major renovations, that part of the industry has recorded four per cent growth over the year with most parts of the state benefitting,” Temby says.
|Number of total dwellings approvals|
|Three months to Jan 16||Three months to Jan 15||% change|
Gladstone – Biloela