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QLD Home Building Recovery Takes Place

Hawthorne real estate may become more readily available, as new figures show home building is on the rise across Queensland.

Data from the Housing Industry Association (HIA) reveals that while some cities linked to the resources sector had their peak in activity a year ago, other regions are now following suit.

Executive director for the group in Queensland Warwick Temby said building approvals are especially strong in the multi-unit market, while new home sales are also on the move.

"Once these approvals hit the ground in the early months of 2014, they will be making a strong contribution to economic growth in Queensland," he commented.

"Even those markets like the Gold and Sunshine Coasts and Cairns that have been heavily depressed for years, are now expected to grow strongly through 2014."

Across the state as a whole, approvals are up 37 per cent – this is considerably higher than the low levels recorded a year ago.

Over the past 12 months alone, multi-unit approvals have increased 75 per cent, while detached homes that have been given the go-ahead rose 10 per cent.

A sustainable recovery in the market is expected by the HIA to take place this year, along with a rise in overall employment.

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