- Thursday 10 August 2017
Sunshine Coast building approvals are at their highest level in eight years, with Sunshine Coast Council issuing $1.72 billion in approvals for the 2016/17 financial year.
Council has published its Development Indicators Financial Year Highlights Report, which presents a selection of statistics on development activity throughout the past 12 months.
Mayor Mark Jamieson said the report documented local development activity and demonstrated that development on the Coast continued to remain stable.
“For the third consecutive financial year, council has recorded building approvals with a value in excess of $1 billion,” Mayor Jamieson said.
“The building approvals issued in the last financial year were 32% higher compared to the building approvals issued in the previous year.
“Game-changing projects such as the new Maroochydore CBD, Caloundra South (Aura), Palmview (Harmony), the opening of the new Sunshine Coast University Hospital and the expansion of the Sunshine Coast Airport have been setting the scene for increased building approvals.
“These projects attract a range of investments, providing greater stability for our local economy and assisting to smooth out the traditional boom bust cycle.
“The majority of the $1.72 billion in building approvals continued to be of a residential nature, however last financial year there was increased growth in the proportion of multiple dwelling units with a total of $341 million approved, an increase of 68% from 2015/16.
“The majority of these approvals have been recorded within the enterprise corridor between Caloundra and Maroochydore.
“Another positive sign for the local economy has been an increase in the value of building approvals relating to uses such as offices, shops and restaurants, with companies such as Youi committing to a new global headquarters here on the Sunshine Coast.
“The outlook is also looking very strong with new lots being approved through council’s reconfiguring a lot applications, approvals through Economic Development Queensland and the Department of Natural Resources and Mines, as well as exciting progress for the Maroochydore CBD.”
Planning Portfolio Councillor Christian Dickson said development had increased significantly on the Sunshine Coast over recent years, a positive flow-on from the region’s major projects that would help drive a stronger economy, generate jobs and provide access to new services for our community.
“While work continues on the development of a new CBD at Maroochydore, the surrounding areas are experiencing rapid growth, with housing activity noticeably higher,” Cr Dickson said.
“Professionals, investors and owner occupiers in particular will jump at the chance to purchase a property within walking distance of the new CBD.
“We are creating Australia’s first truly smart city for the 21st century, one which will generate thousands of construction jobs, more than 15,000 permanent jobs and provide a $4.4 billion boost for the local economy.
“We are not simply sitting back and letting the future happen. We are tackling the future head on.
“We are shaping it, making decisions that some would view as courageous and establishing Australia’s most sustainable region – healthy, smart, creative.”
Master Builders regional manager Will Wilson said the Development Indicators Financial Year Highlights Report indicated the economic outlook for the Sunshine Coast economy and building industry was very stable.
“The report shows us that business confidence in the building and construction industry consistently remained at a high level during the 2016/17 financial year,” Mr Wilson said.
“The building industry recognises council’s continued efforts to provide the right conditions for developments to prosper in the right locations.”