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Queensland Dwelling Approvals Rise 4.1%

By David Bell

Investors seeking real estate in Rockhampton should find they have more properties to choose from, as dwelling approvals increased significantly throughout Queensland in October.

During the month, dwelling approvals experienced a rise of 4.1 per cent, significantly higher than in other states such as Victoria (2.2 per cent) and New South Wales (1.3 per cent).

The main contributor to this growth was private sector dwellings, which on a national basis were up 0.2 per cent in trend terms compared to the previous month.

It is now the 11th month in a row in which private sector housing approvals have been on the rise.

While South Australia and New South Wales saw their private sector approvals decline, Queensland experienced a rise of 0.4 per cent, further emphasising its investment potential.

With data from the Real Estate Institute of Queensland (REIQ) recently showing that the state's property market is on the up, it would not be surprising if investor activity increased alongside it.

The REIQ September quarter median house price report shows that house sales in the state increased 9 per cent over the three-month period.

The group also emphasised that Queensland has seen sustainable house price growth, unlike some other parts of the country.

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