Australian Property News

Queensland building approvals ahead

Posted on Wednesday, December 07 2011 at 2:28 PM

While the nation saw building approval declines of 0.7 per cent for the month of September, Queensland’s building approval rate remained steady at 5.7 per cent, according to Queensland’s Deputy Premier and Treasurer Andrew Fraser.

“…the HIA (Housing Industry Association) released its new home sales report, which actually showed that Queensland again bucked the national trend – achieving a 5.7 per cent increase in the volume of detached house sales while Victoria, New South Wales and Western Australia all posted declines,” said Fraser.

Fraser credits the performance to the $10,000 Queensland Building Boost starting to flow through the sector, combined with the Reserve Bank of Australia cutting interest rates in early November.