Spike in Ipswich approvals

BUILDING approvals in Ipswich spiked by 1.8 per cent in the past financial year, putting the city well ahead of its Brisbane neighbours.

BUILDING approvals in Ipswich spiked by 1.8 per cent in the past financial year, putting the city well ahead of its Brisbane neighbours.

In Ipswich, the average value of a new home was $238,963, while apartments came in at $253,600.

Residents in Ipswich were also more likely to build a new home than renovate an existing property with $68.2million in new building approvals compared with $1.8million for renovation projects. Approvals in Brisbane for July fell 12.0 per cent compared with the same time last year, according to the latest Australian Bureau of Statistics figures.

In Brisbane, the average value of a new home was $419,340, while apartments came in at $346,231. Approvals in Logan for July jumped 71 per cent, with the average value of a new home $216,264, while apartments came in at $174,175. Logan residents were more likely to spend money on new homes, with $83.6million in new building approvals compared to $3.9million for renovation projects.

Moreton Bay Council approved 19 per cent more buildings this July compared with 2017 and there was $131.1million in new building approvals compared to $6.7million for renovations.