Translate

30 September 2010

Ipswich moves out of statewide housing slump as growth continues in the western corridor

QT.com.au
Zane Jackson | 30th September 2010


HOUSING approval numbers plummeted well below average in May and June
this year, but the figures are on the way back up according to a new
report.

The Urban Development Institute of Australia (UDIA) Queensland report,
released this week, says the global financial crisis hit the state
hard, with Ipswich bearing some of the pain.

Their Development and Construction Industry Report shows that only 102
houses were approved each month in May and June this year.

This was down on the 2006-2007 and 2007-2008 financial year averages
of 168 per month.

According to the report, house and unit approval numbers are at 1831
for the past 12 months – well below the South East Queensland Regional
Plan target for the Ipswich region of 4720 per year.

Ipswich Council Planning and Development Committee chairman Paul Tully
said the fluctuating housing approval numbers could be attributed to
the global financial crisis.

"After a period of downward trends and 'flat lining', trends in recent
months have been upward," Cr Tully said.

"This includes the preliminary figures for August which are showing an
increase back to pre-2008 levels of building activity in the city.

"Hopefully, the results in terms of building approvals for the past
few months are indicating that the local building and development
industry is emerging from the worst of the global financial crisis."

Cr Tully said future building activity in the western corridor over
the next 20 years would outstrip all existing building records as
Ipswich races to a population of 435,000 by 2031.

The UDIA report claims the development industry in Ipswich is the
fifth-largest generator of employment, accounting for 7.7 per cent of
jobs.

For unit approvals, the Ipswich area is 23 per cent below the bench
mark of the monthly average in financial years 2006-07 to 2007-08.
Ipswich City ranks third out of the eight south-east Queensland areas
assessed.

No comments:

Post a Comment

Channel 7 News: James Hardie v Ipswich City Council

Channel 7 News Flashback to 1995

Livestream TV via GNN - Goodna News Network

Watch live streaming video from goodna at livestream.com