Residential dwelling approvals have remained elevated in Queensland over the first three months of the year, according to the latest report from the Housing Industry Association (HIA).
Increases were recorded in the segments of detached dwelling, renovation work, and multi-units. Of the segments, multi-unit approvals reported the highest growth at 65.3%.
The volume of detached building approvals also increased significantly, up by 50.7% while renovation works went up by 45.6%.
Mike Roberts, executive director for Queensland at HIA, said the increases in approvals were consistent with other indicators, particularly the sales activity in the state. In fact, a separate report from HIA showed that during the quarter, sales activity in Queensland has increased by 54.9%.
"This very strong result follows from rapid house price growth across the south east corner and in north Queensland," he said.
Roberts said the demand for homes in Queensland was due to the state being able to offset the loss of international students and migration by attracting workers from New South Wales and Victoria.
"We anticipate a very strong year for building work on the ground in Queensland this year, and into 2022, with more new detached homes to commence this year than any previous year. The record volume of work will see the industry absorb workers from across the economy,” he said.
