Building activity continues to flag in South Australia with approvals falling further behind.
South Australia was the only State to record a fall on its 10-year average. About 10,900 approvals were recorded in the year to February, down 3 per cent on the 10-year annual average of 11,208 dwellings approved.
In contrast, New South Wales is rocketing ahead 62 per cent above its long-term average while Tasmania ranks second-lowest – still 2 per cent ahead of its 10-year average.
The value of approvals has increased to $4.575 billion over the past 12 months, up 7.7 per cent on the previous 12 months and 8.7 per cent over the average of the past 10 years.
Master Builders SA Chief Executive Officer Ian Markos said there was a consistent story – reforms are needed to spark new demand.
“Steel, Defence and auto-manufacturing have reached or passed crisis point and have the full attention of the Government for good reason,” he said.
“But the building and construction sector employs more than 55,000 people directly and many more indirectly – the Government needs to engage with the reform proposals we have provided to avoid heavy job losses in one of South Australia’s most fundamental sectors.
“Planning reforms are a start – now it’s time to look to our Budget proposal and reform proposals for the changes that will build the sector over the next decade.”
Our full release with comparative statistics is available here.