What building approval figures mean for the local economy.
What building approval figures mean for the local economy. Jodie Richter

Millions worth of houses approved in one month

MORE than $2.7 million worth of dwellings were approved across the Southern Downs in August.

Australian Bureau of Statistics figures show 12 homes worth a total of $2.7 million were approved in the Southern Downs council area in August.

That was up on seven approvals valued at $1.9 million in July.

No apartments were approved in August, down from two approvals the month before.

Throughout the year, 19 houses have been approved in the Southern Downs, down from 31 in the same period in 2017.

The figures also show just 6.6 per cent of all building approvals in August were for renovations, compared to 22.8 per cent in July.

Master Builders Queensland deputy CEO Paul Bidwell said construction remained a key economic sector in every community.

"Building approvals is a really important indicator of how the local economy is doing,” he said.

"If people are living and working in the area, if industry is doing well, then people are going to be looking at building.”

Mr Bidwell said almost all approved buildings were built, but construction commencement could take years.

"The correlation between approvals and construction is very high, around 99 per cent.

"If a developer is doing their job right, they shouldn't be applying for approvals for buildings that aren't going to get built.” -NewsRegional


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