Building approvals slow in regional Queensland
Regional building approvals released by the Australian Bureau of Statistics have revealed a slowdown in approvals across many regions of Queensland during July.
The Gold and Sunshine coasts were the only regions to record positive gains during the month, with increases of 27.3 per cent and 44.7 per cent respectively.
However, trends across the year paint a more positive picture, with more than half of Queensland's regional centres recording positive growth over the last 12 months.
Southeast Queensland led the way with Greater Brisbane, Gold Coast and Sunshine Coast all posting positive results, followed closely by Far North Queensland and Wide Bay.
Predictably, resource-based regions Central Queensland, Mackay and Whitsunday are bearing the brunt of the slowdown, with -51.5 per cent and -64.3 per cent respectively.
Master Builders' Deputy Executive Director Paul Bidwell said despite the results for July, the longer-term outlook remains strong, particularly for Southeast Queensland.
"Approvals during the past 12 months are still strong, with total approvals for Queensland up by 15.6 per cent (seasonally adjusted).
"We also know the unit approvals were largely responsible for the result in July, dropping by a massive 31.4 per cent.
"While there is a reasonably strong pipeline of work in Queensland, particularly for the residential sector, there is still a lot of scope for the government to provide support in the form of infrastructure spending in regional Queensland."
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