Residential building works double on the Capricorn Coast!
Posted on February 18th, 2020
Building approvals in the Livingstone Shire Council region have more than doubled from the previous year, according to data from the Australian Bureau of Statistics (ABS).
Earlier this month, the ABS reported that the Livingstone Shire recorded $81.8 million of building approvals across 2019, a $40 million increase from 2018.
2015 was the last time building approvals were above the $80 million mark, indicating the ongoing appeal for townships along the Capricorn Coast and rural areas north and east of Rockhampton.
It is important to note that in the six statistical local areas which make up the ABS data for the Livingstone Shire, the three that make up the Capricorn Coast reflect a growing trend for people seeking a lifestyle choice, with Yeppoon seeing an increase from 58 to 147 dwelling approvals from 2018 to 2019.
As Central Queensland fast becomes an economic powerhouse due to the progression and commencement of $3.6 billion worth of major infrastructure projects within the region, this recent release of data shows that workforce expansion and increasing infrastructure development continues to drive more and more people to the lifestyle advantages that the Capricorn Coast has to offer.
The liveability, affordability, scale and future economic prospects of both the Capricorn Coast and Rockhampton region suggests that we will see building figures continue to grow over the coming years.
As our existing operations expand their production activities, new and reopened mines maintain momentum, and several construction projects commence, we will continue to attract new residents.
As we predicted, these key projects are bringing jobs to our region, creating population growth and driving development.
The building data is in line with the rising trend and upturn of the local rental market as a number of developments including the Carmichael Coal Mining Project, Rookwood Weir and Defence projects kicked off, providing a significant injection of investment and jobs into our local economy.
Although the recent data saw a reduction in non-residential building approvals, we anticipate an upswing in commercial investment in 2020 and beyond as we see the commencement of the Keppel Bay Convention and Sporting Hub and long-awaited works begin on Great Keppel Island.
Residents committing to build and further invest on the Capricorn Coast and greater CQ region demonstrates very positive signs that the economy of our immediate localities are healthy and strong.