Brisbane construction increases, 42.5% of approvals for multi-unit dwellings

Construction in Brisbane is on the increase, with the Rider Levett Bucknall crane index reporting 48 cranes on sites around the city.

Meanwhile, Teneriffe, Newstead and Fortitude Valley had more than a dozen cranes within four square kilometres.

Master Builders’ executive director Grant Galvin pointed to building approvals as a sign of the growing confidence.

“The industry’s confidence is reflected in total building approvals which had also risen around 25% over the past 12 months to June,” Galvin said.

“It’s interesting to note that 42.5% of approvals in the last 12 months are for multi-unit dwellings, mainly in Brisbane and the Gold Coast,” he said.

The 40,000 dwelling commencements forecast for 2014/2015 is expected to be exceeded, with current 2013/2014 financial year approvals at 37,000.

Premier Campbell Newman said that the construction sector’s strength is good for Queensland’s overall economy.

“Around 223,000 Queenslanders are employed in the construction industry, many more than two years ago and if these trends continue, we’re confident that we’ll see many more jobs created,” he said.

He pointed to the reforming of the planning and development approval systems, and the $15,000 Great Start Grant incentive, as other drivers behind the construction sector.