Townsville City Council's latest Development Activity Report shows the city is continuing to show resilience in the face of costs-of-living pressures, interest rate increases and global economic uncertainty.
The report was noted at today's Ordinary Meeting of Council and highlighted Townsville's planning and development works for the second quarter of 2022.
Mayor Jenny Hill said the report was confirmation that Townsville continues to be an attractive place for people to live, work and invest.
"The report indicates people in Townsville are still investing in residential and commercial embellishments and developments," Cr Hill said.
"Approvals and releases of residential lots have increased compared to the same time last year, and development applications to Council are holding with the same number as quarter two 2021.
"There was also a 20 per cent jump in applications to Council to further develop existing homes with carports, sheds, home extensions or additional dwellings.
The quarter two Development Activity Report showed a reduction in new dwelling approvals compared to the same quarter last year correlating with the ending of the Federal Government's Home Builder grants in 2021. However, new dwelling approvals are up compared to the same quarter in 2020 and 2019."
Planning and Development Committee chairperson Mark Molachino said the commercial sector was showing great confidence in the city.
"The report notes a 30 per cent increase in commercial building work approvals for this quarter compared to the same period last year," Cr Molachino said.
"Despite a lot of commentary on the impacts of the current economic climate, Townsville is continuing to grow, and businesses are continuing to invest in the city.
"Council is focussed on working with small, medium and large businesses to generate ongoing growth in Townsville which is essential for a prosperous future for our community.
"Developments like the Lansdown Eco-Industrial Precinct and NQ SPARK are key projects in emerging industries that have already attracted considerable interest from both the public and private sector and will position us well for continued investment in the city."
To watch August's Ordinary Meeting of Council, visit Council's Meetings, Agendas and Minutes page.
