Scaffolding is erected on a building site.
Scaffolding is erected on a building site. Nev Madsen

Coast's $1.7 billion building boom marks eight-year high

SUNSHINE Coast building approvals are at their highest level in eight years, with Sunshine Coast Council issuing $1.72 billion in approvals last financial year.

Mayor Mark Jamieson said the council's Development Indicators Financial Year Highlights Report demonstrated development on the Coast remained stable.

"For the third consecutive financial year, council has recorded building approvals with a value in excess of $1 billion," Cr Jamieson said.

"The building approvals issued in the last financial year were 32% higher compared to the building approvals issued in the previous year."

He said the Maroochydore CBD, Aura at Caloundra South, Harmony at Palmview, the opening of the new Sunshine Coast University Hospital and the expansion of the Sunshine Coast Airport had been setting the scene for increased building approvals.

"These projects attract a range of investments, providing greater stability for our local economy and assisting to smooth out the traditional boom bust cycle."

He said the proportion of units included in those approvals had risen by 68% on the previous financial year. 

"The majority of these approvals have been recorded within the enterprise corridor between Caloundra and Maroochydore."

Cr Christian Dickson said development had increased significantly on the Sunshine Coast in recent years, a positive flow-on from the region's major projects that would help drive a stronger economy, generate jobs and provide access to new services for our community.

"While work continues on the development of a new CBD at Maroochydore, the surrounding areas are experiencing rapid growth, with housing activity noticeably higher," Cr Dickson said.

"Professionals, investors and owner occupiers in particular will jump at the chance to purchase a property within walking distance of the new CBD."

Master Builders regional manager Will Wilson said the report indicated the economic outlook for the building industry was very stable.

"The report shows us that business confidence in the building and construction industry consistently remained at a high level during the 2016/17 financial year," Mr Wilson said.

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