Residential housing approvals have remained high in Queensland for the first three months of the year, according to the latest Housing Industry Association (HIA) report.
Increases were recorded in the single-family home, renovation and apartment building segments. Among the segments, multi-unit approvals recorded the strongest growth with 65.3%.
The volume of approvals of isolated buildings also increased significantly, by 50.7%, while renovations increased by 45.6%.
Mike Roberts, Queensland executive director at HIA, said the increases in approvals were consistent with other metrics, particularly sales activity in the state. In fact, a separate report from HIA showed that during the quarter, sales activity in Queensland increased by 54.9%.
"This very strong result stems from the rapid growth in house prices in the South East corner and North Queensland," he said.
Roberts said the demand for housing in Queensland was due to the state being able to compensate for the loss of international students and migration by attracting workers from New South Wales and New South Wales. Victoria.
"We are forecasting a very good year for field construction work in Queensland this year, and into 2022, with more new single family homes starting this year than any previous year. The volume Record labor will see the industry absorb workers from the whole economy, "he said.
Top suburbs:
Marrickville
,
nundah
,
Rockville
,
Alexandra Hills
,
lalor park
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in real estate, it is important to ensure that you not only have the lowest available rate possible, but also have the right loan features for your needs. needs.
You only need to fill in a few details below and we will then arrange for a local mortgage broker to contact you and determine the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
