Queensland Building Approvals Stabilised Following Steep Annualised Falls: CCIQ

Thursday 6 June, 2019 | By: Dan Petrie

Media Release

Queensland Building Approvals Stabilised Following Steep Annualised Falls: CCIQ

Queensland building approvals data for April has stabilized following a period of declining construction activity according to the latest data released by the Australian Bureau of Statistics.

The Chamber of Commerce and Industry Queensland (CCIQ) notes that as forward indicator of construction work, the number of dwellings being approved has effectively bottomed out.

CCIQ Head of Industry, Dan Petrie said that today’s data should be welcome as there is some evidence emerging of improved resilience in the construction sector which should be aided by the Reserve Bank of Australia’s (RBA) decision to lower the official cash rate to 1.25% earlier this week.

“A more accommodative monetary policy, electoral certainty following the most recent federal election and improving credit conditions should assist the residential construction sector.

“The Australian and Queensland economies require a fiscal response from state and federal governments to ensure that the sectors that have endured a torrid last two years can capitalise on an improving economy,” Mr Petrie said.

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  • Assignment Service - AssignmentDoer.com 12/06/2019 9:33pm (14 days ago)

    Most states have bicameral frameworks (an upper and a lower house) however Queensland is unicameral. State and domain governments are in charge of emergency clinics and wellbeing, training, transport, police, open lodging, and various different things inside the state or region.

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