May 22, 2019
Building approvals in the South Burnett may be emerging from a four-year slump, according to new data from the Australian Bureau of Statistics (ABS).
Earlier this month, the ABS reported that in the year to March, the South Burnett recorded $46.3 million in building approvals.
The last time the region had more than $40 million in building approvals was in 2013-14 ($40.4 million).
The ABS data also showed this year’s approvals were almost evenly split between residential ($23.9m) and non-residential ($22.4m) construction.
The South Burnett has recorded an average $20 million in residential building approvals over the past five years, and the latest figures are close this.
However non-residential building approvals are more than double their five year average, indicating an upswing in commercial investment.
“This is a great result for our growing regional economy,” Mayor Keith Campbell said.
“Construction activity can easily be seen across the South Burnett, and these statistics show that activity has a healthy forward pipeline.”