Gold Coast house and unit approvals up while Brisbane approvals are down

first_imgFirst-home owner Brie Gillett checks a GJ Gardner display house, Pimpama, Gold Coast. Photo: Regi Varghese“We may have that situation probably two years down the track but I think that’s a good thing as there will be stock to be sold. If we have a growing population they have to have somewhere to come to and I don’t believe we’re going to fall of a cliff or have a GFC towards the end of 2018 but we will have a level of pace where people can operate without a frantic situation.”First-home buyer Brie Gillett is building a house at Pimpama, the northern Gold Coast’s fastest growing region. Jupiters Casino extension. Photo: David ClarkThe soon-to-be first time mum and her fiance Trent Jesberg decided building was the only way to go — especially with the $20,000 first homeowners’ grant.“It was the best option financially for us, we could get a helping hand and have exactly what we wanted,” she said.“Having a house to suit our needs is important to us, we are starting a family.” First-home buyer Brie Gillett (right) discusses her house plan with Greg Palmer, Supervisor, GJ Gardner Builders, Pimpama, Gold Coast. Photo: Regi VargheseTHE Gold Coast is leading the state in residential construction following a bumper 2016 sparked by a Commonwealth Games building frenzy.House and unit approvals were up 20 per cent across the city, according to peak construction and building industry association Master Builders Qld.In comparison, Brisbane results are down — due to the unit oversupply, resulting in a 14 per cent drop in building approvals. Gold Coast City Marina and surrounding property. Picture Mike BatterhamMaster Builders Qld regional manager Gold Coast John Duncalfe said 2017 looked promising.“At the moment I have builders telling me every day they can’t get enough subcontractors,” Mr Duncalfe said.“Everyone is at a fairly good space as far as work in their books goes.”More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North11 hours ago02:37International architect Desmond Brooks selling luxury beach villa1 day agoHe said he didn’t expect an oversupply of units on the Gold Coast following the Games.“We did have a major oversupply years ago but we don’t have an it now,” he said.center_img The Gold Coast skyline. Picture: Queensland TourismThe association’s Building Industry Outlook 2017 reveals the Coast’s standout performance was sparked by employment growth and a thriving tourism industry.“The Gold Coast is going gangbusters and this is expected to continue through until the 2018 Commonwealth Games,” Master Builders deputy CEO Paul Bidwell said.The second stage of the light rail network, redevelopment of Jupiter’s Casino and the $1 billion Jewel development are also mentioned as bringing work to the region. Kurrawa Surf Club. Photo: David ClarkMiss Gillett said they chose Pimpama due to its proximity to the motorway.“It is close to the Coast and Brisbane — the new Coomera Town Centre they’re building was a plus,” she said.The couple collect the keys to their new home tomorrow and will move in this week. Key facts Unemployment rate 5.4 per centPopulation growth of 2.1 per cent a yearOne out of three people on the Gold Coast are paying off their own homeAverage mortgage repayment is $2,058 a month. This is $200 more than the Queensland average.last_img read more