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Gold Coast tradies score win from $162.8m in new home approvals

Gold Coast tradies score win from $162.8m in new home approvals

Gold Coast tradies will benefit from the latest batch of building approvals with $162.8 million in new homes given the go-ahead by council.

Figures released today show 465 new homes received the green light in October, bringing the total of approved residential building projects to 5634 for the year.

Up to October, units made up most of the building approvals (45.7 per cent) for the year. Houses accounted for 37.7 per cent.

An estimated $18.9 million of renovation work was also given the go-ahead.

The news is not all good, however.

The national October figures are adding to concerns of an overall slowdown in home construction.

Compared to the same time last year, the number of dwelling approvals across Australia dropped 13.4 per cent on seasonally adjusted figures.

Gold Coast appeared to buck the trend in the latest reported period.

In October last year, 316 new homes were approved, with a total value of $94.6 million.

This means 149 more homes got the go-ahead in the same period this year, an increase of 47.2 per cent.

The next batch of building approval figures is set to be released in January. Source: Goldcoastbulletin.com.au