Building approvals skyrocket

The Sunshine Coast is booming with the Sunshine Coast Council issuing a massive $1.29 billion worth of building approvals in the 2015/’16 financial year — the highest level in seven years.
Council has published its Development Indicators Annual Highlights report, which presents a selection of statistics on development activity during the last financial year.
Planning portfolio Councillor Christian Dickson said good news for the region’s economy was evident throughout the report.
“For the second consecutive financial year, council has recorded building approvals with a value in excess of $1 billion,” Cr Dickson said.
“The $1.29 billion of building approvals issued in 2015/’16 is 11 per cent higher compared to the $1.17 billion of building approvals issued in the 2014/’15 financial year.”
Cr Dickson said not only was this the highest value of building approvals recorded in the past seven years, 2968 lots had been created through the plan sealing process, making it a record high for the past five years, and would stimulate further building activity.
“Building approval values during the last financial year included $701 million in new dwellings (up 15 per cent compared to 2014/’15), $203 million for multiple unit dwellings (up 19 per cent) and $156 million in additions and alterations (up 141 per cent),” he said.
Cr Dickson said development had increased significantly on the Sunshine Coast over recent years, with the 2015/’16 figures showing a 114 per cent increase in building approvals since the $607 million recorded in the 2012/’13 financial year.
“This is a considerable increase, which is a significant boost for the region and our economy,” he said.
“Steady and sustainable growth in development over the longer term has positive flow-on effects that contribute to increased economic activity across the region, including employment generation, business confidence and consumer spending.”
Master Builders association regional manager Will Wilson said the Development Indictors Annual Highlights report indicated the economic outlook for the Sunshine Coast economy and building industry was very stable.
“The report shows us that business confidence in the building and construction industry consistently remained at a high level during the 2015/’16 financial year,” Mr Wilson said.
“A recent Master Builders Survey of Industry Conditions, which reports on the current conditions and business sentiment in the Queensland building and construction industry, provided similar positive feedback.
“The survey showed the Sunshine Coast is one of only two areas in Queensland that are maintaining a strong building performance and achieving better than the state averages for planning approvals, infrastructure charges and development availability.”