New housing approvals nearly doubled
NEW housing approvals have nearly doubled in the Far North, surprising industry leaders. Has the tide finally turned? Is this the year Far North Queensland's economy finally gets back on track?
In the latest figures released by the Australian Bureau of Statistics, new housing approvals for the region jumped from 57 in January to 102 in February, a 79 per cent increase.
Master Builders Cairns regional manager Ron Bannah said he was delighted and pleased by the rise.
"This news is quite pleasing and it’s been a long time coming," he said.
"I think there’s a bit of confidence starting to return to our industry."
Mr Bannah said the figures bode well for the future.