Building Approvals Skyrocket in Queensland During 2013

The number of housing approvals for detached houses has increased in in Queensland, which could be great news for anyone interested in Surfers Paradise real estate.

During November 2013, there was a recorded rise of of 4.9 per cent in the number of dwelling approvals, which Acting Treasurer and Minister for Trade John McVeigh said was a fantastic development for the state's future.

"Our measured plan to cut red tape, reduce the cost of doing business, maintain Queensland’s competitive tax status and speed up approvals are helping to grow a four pillar economy and create jobs," said Mr McVeigh in a January 10 statement.

Furthermore, this is the 23rd consecutive month that dwelling approvals have increased, indicating a strong market. The number of approvals now rests at 50.6 per cent higher than December 2011.

"We’re working steadfastly to grow the property and construction sector, implementing a $15,000 Great Start Grant as part of the 2012-2013 Budget which has already seen 4,100 grants given to Queenslanders," said Mr McVeigh.

This could present an opportunity for people to construct off the plan properties to develop a portfolio of rentals in Surfers Paradise. Establishing property in the area could be great for the future, especially with the expected population boom over the next few years.