Community & Business
4 August, 2023
Development activity slows but growth up
APPROVALS and applications for new developments in the Mareeba Shire have fallen compared to the heady days when Covid triggered more activity in the sector.
But the shire continues to experience strong economic growth, with an annual change in Gross Regional Product (GRP) of 6.3 per cent, which is above the State average of 4.99 per cent.
During the April to June quarter, Mareeba Shire Council approved 88 dwelling and commercial projects worth an estimated $14.5 million compared to the same quarter last year which saw 100 projects approved worth around $20 million.
“The trend for building development in the shire over the past 12 months is closer to the typical average development over the past five years,” a report to council stated.
New development applications lodged in the 2023 June quarter were also down, with 10 lodged this year compared to 22 for the same period last year.
In terms of GRP, agriculture continues to be the industry leading the way in driving growth.
The shire has also again experienced a small increase in population over the past year, largely in the 25-39 and 50-85+ age groups.
Just over 170 new jobs were recorded in the Mareeba Shire between 2021 and 2022, predominately in the areas of health care and social assistance, professional, scientific and technical services, education and training, and public administration and safety.
Residential vacancy rates in the region continue to sit at almost 0 per cent.
