subscribe to our newsletter
Queensland new home building to skyrocket

Queensland new home building to skyrocket

Residential construction in Queensland is at its strongest level in six years and shows no signs of slowing.

The Housing Industry Association (HIA) yesterday released the Spring 2014 edition of its Queensland Outlook, the state’s most comprehensive housing report card.

“Queensland is in the midst of a sustained upswing in new home building, with activity bouncing back strongly from the difficult post-GFC years,” HIA executive director, Queensland, Warwick Temby said.

“New dwelling commencements are finishing off their second consecutive year of strong growth, with more to come over the next few years,” Mr Temby said.

“New dwelling starts in Queensland are enjoying their strongest year since 2008.

“The strength of new home building is matched by increasingly good prospects for home renovations activity in the state, which entered a sustained expansion during 2014,” he said.

New dwelling commencements in Queensland are forecast to increase by 13.9 per cent in 2014 to just over 37,000, following growth of 13.4 per cent in 2013.

Commencements are forecast to rise by another 8.0 per cent in 2015 before rising again in 2016 to 41,090.

Renovations investment is forecast to grow by 4.4 per cent in 2014 and by another 1.6 per cent in 2015.

In 2016, the value of renovations activity is forecast to reach $6.90 billion in Queensland, up by 6.5 per cent on the previous year.

Queensland new home building to skyrocket
mortgagebusiness logo

Latest News

Over 40 million shares will be issued to an aggregator’s shareholders, following Treasurer Josh Frydenberg’s approval of its merger with...

Australians with black marks on their credit report would not have to continue being disadvantaged due to past financial hardships under the...

There has been a “controlled” slowdown in housing market conditions, which has been “mild” in comparison to previous downturns, Cor...

FROM THE WEB

podcast

LATEST PODCAST: Upheaval at the major banks

Is enough being done to ensure responsible lending?