With high vacancy rates for both residential and commercial property – a legacy of the pre-GFC boom in construction on the Gold Coast – there is little need for additional construction activity on the Coast any time soon. Hence, it’s unsurprising to see the following report in the Gold Coast Bulletin (Coast building approvals hit new lows):

THE Gold Coast has recorded what could be its worst development approval figures on record.

Only 11 development approvals were given and moved on to construction in August, down from more than 800 in the glory days of August 2005, council figures show.

I’ve charted the approvals data here: