Increasing population in Queensland leading booming housing demand

first_imgBrisbane is the city of choice for many overseas and interstate migrants.“Private sector house approvals are now at their highest level since 2003, in trend terms.” Mr Lokhorst said. Housing Industry Association senior economist Shane Garrett. said that healthy population growth was behind the increase. “The upshot of today’s figures is that new building activity will remain elevated over the near term,” Mr Garrett said.“Strong population growth and a strong economy go hand-in-hand.” IN DEMAND: Private housing demand is behind a boost in building approvals across Queensland.QUEENSLAND’S population is growing, and so is the demand for housing.Strong demand for housing in Queensland has pushed up dwelling approvals according to data from the Australian Bureau of Statistics. ABS data for the month of March 2018 showed that Queensland had the third highest trend increase for dwelling approvals, behind the ACT and Northern Territory.Queensland dwelling approvals increased by 2.3 per cent over the month, and were also 14.5 per cent higher than a year before. More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours agoDirector of construction statistics at the ABS, Justin Lokhorst said that increase in dwelling approvals were being driven by demand for homes. last_img

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