The 7.5 per cent seasonally adjusted increase in total building approvals for November 2014 reflects confidence in the market with the strength of the result slightly above industry expectations reflecting positive momentum.
The November result was built on strong approvals growth in higher density dwellings in the major cities. The 17.2 per cent seasonally adjusted rise for other dwellings (units and apartments) confirms the changing face of dwelling demand as higher density living becomes increasingly accepted,” he said.
Assisting to drive this growth is continued support of international investors as well the continued low interest rates and positive outlook on the current economic conditions in QLD, which included the recently released positive job creation figures which were ahead of what had been expected.
The results point to a sustained pipeline of work over the next 18 months which will result in more jobs in the residential building sector.
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