Building Approvals: SA falls short of national gainsSouth Australia is missing in action when it comes to building approvals, failing to share in the jobs growth and economic activity experienced by other states. South Australian Executive Director of the Property Council of Australia Daniel Gannon said national ABS Building Approvals numbers for December 2014 in the residential development sector hit record levels, surpassing the 200,000 mark for the first time for the calendar year, but not in SA. “It’s great news for building approvals nationally with 201,025 recorded for the calendar year 2014, but the news is not as good here in South Australia,” said Mr Gannon. “The record national numbers have been supported by domestic and foreign investment; however, South Australia is missing in action. “ABS data reveals that 1,012 dwellings were approved in December to support 11,254 homes approved for the full year ending December 2014. “This means the pipeline for state residential activity is ticking over, but falling short compared to other larger states. “To show the current strength of the December 2014 ABS Building Approvals result, Australia recorded ,000 approvals greater than average. “South Australia is simply not benefitting from both domestic and foreign investment – instead of keeping up with other states, we’re falling behind. “However, there is potential to share in national infrastructure and planning reform in 2015 which will assist the state to increase residential development activity. “The Property Council will be firmly focused on working with the South Australian Government to achieve planning reform which integrates the infrastructure Adelaide needs and to drive investment in the regions which could be better,” said Mr Gannon.
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