Building approvals up – again: Bligh

2 April 2007

Building approvals continue to rise in Queensland, according to just-released economic data, Deputy Premier and Treasurer Anna Bligh said today.

Ms Bligh said the latest figures from the Australian Bureau of Statistics showed Queensland’s economy remains in excellent shape.

“Dwelling approvals (trend) in Queensland rose by an impressive 3.5%, compared with the rest of Australia, in which approvals fell for the seventh month in a row,” she said.

“This excellent result is being driven by growth in other residential building approvals, such as units and townhouses.”

Ms Bligh said the strength in the residential building sector was also good news for jobs.

“If you’re giving the economy a health check-up, building approvals are one of the vital signs you look out for,” she said.

“Today’s results back up what we’ve been saying all along – Queensland’s economy is in great shape, and it’s showing up in confidence across business and the community.”

Ms Bligh acknowledged the continued spectre of further interest rate rises over the property market.

“However, Queensland has the advantage of strong population growth and the sustained strength of our labour market,” she said.

“People want to come here to live and work, and when they get here, they find the conditions are right for building,” she said.

Media contact: Deputy Premier’s Office 3224 6900