September 2011 Building Approvals Down
08 November 2011
Release of the Australian Bureau of Statistics building approval figures for September confirm the ongoing decline in building approvals.
According to Master Builders Tasmania, the peak employer body representing the buildling and construction industry, release of the Australian Bureau of Statistics building approval figures for September confirm the ongoing decline in building approvals.
Mr Kerschbaum, MBT’s Executive Director said, “In original terms, total dwelling approvals for the month of September were 210 (down 4.8% in seasonally adjusted terms). In trend terms residential approvals have now fallen for the past six months in a row. Non-residential construction is also struggling with $29.8 million worth of approvals recorded for the month, well below average.”
Mr Kerschbaum added, “Yesterday’s announcement of an interest rate cut and a low unemployment rate may just be enough to start turning the very moderate figures around. The Association will be watching the economic data over the next three months very closely as it will probably provide us with a good idea whether the industry will turn around next year or not.”
Mr Kerschbaum concluded, “For anyone looking to build, I would suggest that now is the ideal opportunity to take advantage of competitive market and secure yourself a good deal, whether it is in the residential or commercial market.”
For further comment contact Michael Kerschbaum (w) 6234 3810 or (m) 0438 343 810
