If you’re thinking about building, now is the time

first_imgCM Master Builders MBA genericWITH land values low and tradesmen desperate for work, there has never been a better time to built, according to Acting Regional Director, HIA North Queensland Robert Harding.“It is clear that the North Queensland building industry is undergoing a tough time following the decline in the mining industry with approvals year on year for the December quarter down 21 per cent in Townsville, 31 per cent in Mackay, 21 per cent in Cairns and 20 per cent in Rockhampton,” he said.“While policy makers have made positive announcements to address the economic malice that has plagued the region in recent times, the underperformance of the residential building sector in 2016 indicates the urgent need for those policy decisions to be implemented without further delay.“In light of the fact that other regions on the east coast have seen record or near record levels of new home building in 2016 the question needs to be asked of the policy makers as to why North Queensland has failed to share in that housing cycle upswing.“It is clear that where that upswing has occurred residential building has generated a huge amount of economic activity and consequent employment.”More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:05Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:05 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenThe Converted: Boot Factory03:05 Related videos 03:05The Converted: Boot Factory00:43Best converted homes 201704:02The Converted: Butter Factory02:35Dream Home: Hawthorn00:39Average house? Wait till you see the extension!01:33Looks can be deceivingMr Harding said the upside the decline in approval figures was that for those intending to build or to enter the property market, there has never been a better time.“Trades are in ready supply and build times are short meaning mortgage payments during the build period are reduced,” he said.“Prices are competitive and this coupled with the stabilising of land prices as evidenced by this weeks Valuer Generals report mean there has never been a better time to build in North Queensland.“There is better news for builders engaged in the renovation market with activity in Queensland increasing by 11 per cent in 2017-2018 financial year and is forecast to continue in the subsequent year at a still healthy 7 per cent.”last_img read more

GDP Growth for Q3 Revised to 27

first_img Agents & Brokers Attorneys & Title Companies Bureau of Economic Analysis Confidence Consumer spending GDP Investors Lenders & Servicers Profits Service Providers 2012-11-29 Mark Lieberman Real GDP growth for the third quarter was revised up significantly, reaching a 2.7 percent annualized growth, the “”Bureau of Economic Analysis””:http://www.bea.gov/newsreleases/national/gdp/2012/pdf/gdp3q12_2nd.pdf (BEA) reported Thursday. Economists had forecast a 2.8 percent growth rate from the first estimate of 2.0 percent reported last month.[IMAGE]In the same report, BEA said corporate profits in the third quarter rebounded to $1.752 trillion (annualized) from $1.665 trillion in the second quarter. Profits in the third quarter grew an annualized 22.7 percent after dropping 1.4 percent in the second quarter. Corporate profits on a year-on-year basis increased 18.6 percent, compared to 14.5 percent in the second quarter.The improvement in profits bodes well for increased hiring, and indeed, the nation added 171,000 thousand jobs in October, according to the Bureau of Labor Statistics. The report on November jobs will be issued December 7.The report on GDP was the second of three monthly reports and billed as the “”second estimate.”” The report on profits was the first of two and labeled “”preliminary.”” Final reports on both will be released December 20.The economy grew at a rate of 1.3 percent in the second quarter and 2.0 percent in the first.The make-up of the GDP growth shifted in this latest report away from demand components├â┬ó├óÔÇÜ┬¼├óÔé¼┼ôsales of goods├â┬ó├óÔÇÜ┬¼├óÔé¼┼ôto inventory investment.[COLUMN_BREAK]The revisions were largely due to higher estimates for inventories, nonresidential investments, and exports. Consumer spending was revised down, as was investment in business equipment. Estimates for residential investment and government purchases were virtually unchanged.Inflation for the GDP price index remained strong in the third quarter, revised down slightly to 2.7 percent from the initial 2.8 percent reading and up from 1.6 percent in the second quarter. Analysts forecast 2.8 percent. Excluding food and energy, inflation was 1.3 percent in the third quarter, down from the initial estimate of 1.5 percent and from 1.4 percent in the second quarter.The 2.7 percent growth rate exceeded the average of 2.5 percent since 1991, but is below the longer-term average and the 3.0 percent level need to add enough jobs to make a significant dent in the nation’s unemployment rate. In dollar terms, GDP grew $89.6 billion in the third quarter, higher than the $67.7 billion advance estimate. According to the revised report, consumer spending contributed $33.4 billion to the overall growth, down from $47.8 billion in the advance report (and from $35.7 billion in the second quarter).Government spending at all levels added another $21.3 billion–compared with the advance estimate of $22.4 billion–in the third quarter, reversing a subtraction of $4.3 billion in the second quarter.Residential fixed investment accounted for $12.2 billion in the third quarter, according to the revised report, virtually unchanged from the $12.3 billion in the advance report of the third-quarter GDP increase and up from the $7.2 contribution in the second quarter.Overall, residential fixed investment was 2.72 percent of GDP in the third quarter, up from 2.65 percent in the second.The growth in profits was led by financial corporations, with aggregate profits of $71.3 billion in the third quarter compared with a loss of 11.9 billion in the second. November 29, 2012 452 Views in Data, Governmentcenter_img GDP Growth for Q3 Revised to 2.7% Sharelast_img read more