Business

Positive growth expected in the housing industry

THE home building industry has moved to instil confidence in Queenslanders to build their own homes this year, forecasting a turn-around in the industry in 2013.

Masters Builders' Association housing policy director Paul Bidwell said the patchy performance of the industry last year told a positive story for home buyers and renovators this year.

He said while dwelling unit approvals state-wide fell 1.5% in November, most regions had recorded positive growth.

"Despite the drop since October 2012, the November 2012 figures are a definite improvement from the lows of November 2011 and we remain confident that housing activity will start to turn around in most areas of the state in 2013," he said.

"What will hamper recovery is the negativity surrounding the global economy and continued speculation about interest rates, which are making consumers nervous about signing contracts and dampening confidence.

"We believe it is important to focus on the positives for the industry, including the four interest rate cuts during 2012, reasonably strong economic fundamentals, such as employment and population growth, and the Queensland Government's First Home Owner Construction Grant, which commenced in September 2012."

In the regions, the Sunshine Coast had the biggest fall in residential building approvals in November, down 13.9% on October figures.

But the figures tell a different story for the Mackay and Whitsunday and Central Queensland regions, up 20.1% and 4.8% respectively.

The top region for residential housing approvals in November was north Queensland, possibly showing belated recovery after cyclone Yasi, up 35% on October figures.

"All of these positive factors, combined with an industry that is crying out for work, come together to create favourable conditions for anyone considering building or renovating," Mr Bidwell said.

"With activity levels so low, you should be able to find a contractor who can commence work quickly - there shouldn't be any 18-month waiting lists in sight, unlike when building was at its peak four or five years ago.

"With such favourable conditions and as activity levels start to improve, 2013 is definitely shaping up to be a good time to build."

Topics:  home buyers home renovation housing industry


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

6,603 lightning strikes hit the Northern Rivers overnight

Lightning map from the Lightning Maps website showing the number of strikes over the last 24 hours.

Lightning map shows strikes across the region overnight

Coffs touted as medical marijuana trials begin in NSW

The Federal Government has moved to legalise medical marijuana, with the onus now on the state governments to follow suit.

NSW cancer patients can now apply for medical marijuana trial

Is this child sex offender too old for jail?

Former St Johns College Woodlawn teacher James Doran has been found guilty of committing a series of sex crimes against students.

Guilty of dozens of sex crimes, James Doran may never see prison

Local Partners

School's out as 50,000 NSW teachers stop work

PARENTS are being encouraged to find alternative care for students as about 50,000 New South Wales public school teachers stop work on Thursday morning.

Five things to do in Ballina this week

ICON: Renee Geyer is coming to Ballina.

Music, theatre, culture and more

Elvis is about to leave the building for good

FOR THE LAST TIME: Elvis impersonator, Craig Teys, will perform for the last time at the Slipway Hotel on December 3.

"I wouldn't change it for anything. But it is time to finish.”

WATCH: Local artists featured on ABC's iView

DOCUMENTARY: Behind the scenes of Createability short film Corey the Warrier are Yuin/Bundjalung man and painter Corey Stewart and filmmaker Isabel Darling.

Short films feature local artists living with disabilities

David Beckham's tattoos come to life for UNICEF campaign

David Beckham has called for an end to violence against children

Pop star Liam Payne's Facebook hacked with porn

"Things that can happen to you when you don't have sex."

Tim Roth was abused by his grandfather

Tim Roth was abused by his grandfather during his childhood.

Leo designs shocker tattoo for Tom Hardy after lost bet

Leonardo DiCaprio has designed a new tattoo for Tom Hardy

Hollywood star at home on the Coffs Coast

FEELING LUCKY, SON?: Scott Eastwood visited the Coffs Coast

Guess which Hollywood star has been seen around the Coffs Coast?

Ricky Gervais: There's 'no point' marrying Jane Fallon

RICKY Gervais "doesn't see the point" in marrying Jane Fallon.

Developer's grand new multi-million dollar estate

NEW ESTATE: This is the only plan revealed by the property developer's new Billabongs Estate in Agnes Water.

DEVELOPER given the go ahead for a massive estate with 149 homes.

Banks reclaim Gladstone homes as job losses bite

LONG FALL: Property experts Heron Todd say, based on key market indicators, Gladstone is still travelling to the bottom of the market, with property prices set to get cheaper.

Property valuers say Gladstone housing market hasn't hit the bottom

The million dollar property to test Mackay's market

This Victoria St building will go to auction Tuesday and investors will be watching closely to see how much it sells for.

'High profile architect designed CBD asset' goes to auction

Chinese locked out of Australian property market

The rules are different if you're a foreigner

The buyer was from China - the trouble started right there

Morrison signs off on new affordable rental model

Australia's Treasurer Scott Morrison speaks during a press conference after a meeting of the Council of Federal Financial Relations at Parliament House in Canberra, Friday, Dec. 2, 2016.

Scott Morrison signed off on development of a new financing model

Ready to SELL your property?

Post Your Ad Here!