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{{propApi.successMessage}} {{region}} Change locationSigns of a pulse in Canberra building approvals
Signs of a pulse in Canberra building approvals
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“The last two months have seen approvals for the twelve-month period increase to 2,239 in February and 2,497 in March.”
“This is made up of 693 detached homes and 1,804 apartments and townhouses (for March), which have increased by 30.9% and 165.9% respectively against the previous month of February.”
“The conclusion of the federal election should end some uncertainty in the capital, which has no doubt impacted on the residential building industry. The prospect of potentially multiple interest rate cuts in the second half of the year should also help stimulate demand.”
“While two months of positive numbers gives cause for optimism, it is too early to call a recovery and we will be looking for further increases over coming months, or at least stabilisation and no more falls.”
“The problems facing the industry cannot be overstated, as although the latest release of approvals data represents an improvement, it still leaves the city sitting at 50% of the number required to meet the government's target of 5,000 new dwellings per year.”
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