ABS data shows that the total value of building work approved in Queensland increased by 89 per cent to $2.4 billion in February 2017 (seasonally adjusted) compared with 12 months previously, the highest monthly result since 2011.
A survey of industry participants shows confidence in the property sector is at a two-year high, despite the prospect of higher interest rates and the slowing trend in building approvals.
Building approvals rose more than expected in July, reigniting fears apartments are heading into oversupply.
The rate of decline in the new apartments market will largely be determined by the mood of investors.
Illegal building is a common risk for property buyers, but most aren’t aware that their new home may come with a disastrous DIY job.
Melbourne prices soared 13.9% in the year to May, and Sydney prices were up 13.1%, says CoreLogic.
Record approvals for medium-density homes reflect Australia's acceptance of higher density living.
The recent debate on property taxes could constrain an already faltering property market, says Property Council of Australia.
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