Queensland Premier Campbell Newman observes that the booming construction industry is positively impacting the Queensland economy.

According to Mr Newman, key initiatives taken by the Government have kick started the construction industry again with the latest market reports indicating that Queenslanders are benefitting from the thriving sector through employment generation and more opportunities to invest in property.

Brisbane now has 33 per cent more cranes on its skylines than it did late last year, with 48 cranes currently on sites around the city. Mr Newman sees the number as a fantastic indicator of the confidence in the industry and the number of jobs being created. Around 223,000 Queenslanders are employed in the construction industry; at current growth trends, many more jobs are expected to be created in this sector.

Mr Newman said the Queensland Government has implemented a raft of measures in the past two years to get the construction sector moving including carrying out reforms to planning and development approval systems, and providing incentives such as the $15,000 Great Start Grant, which are all showing results.

Master Builders’ Executive Director Grant Galvin said the industry’s confidence was reflected in total building approvals, which had risen around 25 per cent over the past 12 months to June. About 42.5 per cent of approvals in the last 12 months were for multi-unit dwellings, mainly in Brisbane and the Gold Coast. The industry is also on target to exceed the 40,000 dwelling commencements forecast for 2014–15 with total building approvals for the 2013–14 financial year well above 37,000.