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QLD building approvals up 17 per cent for the financial year

06 August, 2015

Queensland's building industry is powering ahead, with residential building approvals up almost 17 per cent across the state in 2014/15.

The figure meets Master Builders' forecasts of 40,000 dwelling commencements for the financial year just closed.

Master Builders' deputy executive director Paul Bidwell said the results seemed to reflect current buoyant conditions in the residential conditions.

"Conditions in the housing sector are very positive – particularly in South-East Queensland," Mr Bidwell said.

"For the financial year just closed, the figures confirm we will hit 40,000 dwelling commencements across the state – the first time since 2007/08. It also reflects that there is a solid pipeline of building activity going into 2015/16.

"We are forecasting 43,000 housing starts in 2015/16 – up almost eight per cent on 2014/15."

The ABS statistics show the total number of dwelling approvals increased 16.6 per cent from 37,401 for the 2013/14 financial year to 43,597 in 2014/15, seasonally adjusted.

Just on half of the approvals for the year were multi-unit dwellings.

The total number of dwellings approved increased during June by 16.3 per cent, from a total of 3,465 to 4,029, seasonally adjusted.

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