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    Rising housing approvals good for construction

    Published on 6 July 2014, Sunday, 10:50 PM

    If the latest numbers coming out about the Australian residential housing industry are anything to go by, there's going to be a greater demand for diggers and other heavy machinery in the coming months. 

    Building approvals in the country saw a 9.9 per cent increase during May, reaching a total of 16,425. These numbers come after what was a weak April for the housing industry. 

    "This reflects confidence in the industry and will provide a pipeline of work for up to the next three years," said Master Builders of Australia Chief Executive Wilhelm Harnisch in a July 3 statement. 

    Mr Harnisch singled out New South Wales, Queensland and Tasmania as stand-out states. NSW and Queensland led the approvals among the states, while Tasmania experienced a 9.6 per cent rise in approvals. 

    According to the Housing Industry Association (HIA), the peak numbers coming out at the end of 2013 and January 2014 were followed by a decline in approval numbers, leading some to question the continued strength of the recovery in home building. 

    "This result gives us confidence that the recovery has a way to run yet," said HIA Economist Geordan Murray in a July 3 release.

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    Nathan Mills
    Nathan is a seasoned Kennards Hire team member passionate about empowering DIYers in their projects. He loves everything DIY and brings together years of equipment and project experience to help customers get the right tools for their next job.