The Hodgman majority Liberal Government’s priority is jobs and with the fastest growing economy in Australia, Tasmania’s building and construction sector continues to go from strength to strength.
That’s why it’s no surprise Tasmania’s housing sector remains the strongest in the nation according to new Building Approvals data released by the ABS today.
In the year to October 2019, the average number of building approvals per month was 269. This is 8.4 per cent higher than in the year to October 2018 and more than 58 per cent higher than in the year to March 2014.
In a strong sign that the Hodgman majority Liberal Government is building a brighter economic future, Tasmania’s average number of approvals in the year to October 2019 was the highest of any state or territory.
In fact, Tasmania was the only state with building approvals growth.
The value of residential approvals over the same period also grew at 12.5 per cent compared to the previous 12 months, with Tasmania again experiencing the only positive growth of any state in the nation. While Tasmania’s building sector continued to grow, the national value of residential approvals contracted by more than 17 percent.
While we know there is still work to be done, these strong figures show we’re continuing to move in the right direction.