In another encouraging sign for the Queensland Economy, we have recorded the highest growth in building approvals in April of any State and are above the national growth rate Treasurer Curtis Pitt said today.
New figures from the Australian Bureau of Statistics show the numbers of new dwellings approved in Queensland rose by 2.9 per cent in April.
“This is more than double the national increase of 1.2 per cent,” Mr Pitt said.
“In trend terms $1.326 billion new dwellings were approved in Queensland in April which is $178 million more than the same time 12 months ago.
“There has never been a better time to build in Queensland with affordable housing on offer and the Palaszczuk Government’s first home concession making it easier to enter the property market.
“This is terrific news which is supporting tens of thousands of jobs for Queensland tradies and our construction sector.
“Queensland is the only State, along with South Australia, where building approvals have risen over the past year.
“This growth in the number of building approvals is another positive sign of the confidence the Government’s economic plan is generating in Queensland.
“While the LNP continues to talk down our economy, Queenslanders can see the statistics continue to say otherwise.”
Mr Pitt said that since the election in January 2015, more than 51,000 jobs had been created in Queensland.
“We are a Government that is focused on jobs and that’s what the upcoming budget will be all about,” Mr Pitt said.
“The trend unemployment rate is down 0.4 percentage points since the election and, as the Prime Minister has noted, across the nation ‘business confidence is highest in Queensland’.
“Just last week the ABS reported that construction work on new units and apartments in Queensland had grown by almost 45 per cent in the past year.
“In another sign our economic plan is working, there is a significant pipeline of projects already approved, which will continue to support our building industry.
“This increase in construction is not just providing jobs, it’s also providing new homes for thousands of Queensland families who are more confident about their jobs in our growing economy.”