Unit and Apartment Approvals through the Roof

04 May 2015

Master Builders Tasmania (MBT), the peak employer body representing the building and construction industry, believes that the latest building approval figures for March confirm that the lift in non-residential construction activity is not just limited to offices, tourism related and institutional buildings.

Mr Michael Kerschbaum, MBT’s Executive Director said, “The March building approval figures, released today by the Australian Bureau of Statistics, clearly show that unit and apartment approvals have dramatically lifted the figures to well above normal levels. Dwelling approvals were a massive 42.3% higher in seasonally adjusted terms. Whilst there were some conflicting numbers in the ABS statistics, the more than 100 units and apartments approved for the month were the contributing cause to the state recording around 330 dwelling approvals, a massive overall figure.”

Mr Kerschbaum added, “The effects of the First Home Builders Boost (FHBB) are still being felt, with around 220 houses being approved, a good figure in itself without the additional 110 or so units and flats. MBT believes that the high March figure reflects the number of homes which were signed up late last year prior to the expiration of the Boost and are now going through the approval process. There is no doubt that the momentum from the FHBB will continue throughout the rest of the year, with many of these homes yet to commence construction.”

Mr M Kerschbaum concluded “The only dark cloud on the construction horizon is the lack of commercial activity in the North and North West. MBT believes that the resolution of the problems could lie in innovative programs such as the Devonport Living City concept. This is an initiative which would not take a lot of state government money but would reap great rewards for that region.”

For further comment contact Michael Kerschbaum on 6210 2000 or 0438 343 810

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