News

Local economy rebounding strongly

Goulburn Mulwaree’s building approval growth is exceeding all estimates, as new data shows the region is on track for the highest value of residential building approvals ever recorded.

Nearly $66 million in residential building approvals were recorded for the financial year through until February, with the area on track to exceed the previous record of $74.8 million in 2018/19 by a significant margin.

“2020 was an incredibly difficult year for the Australian economy due to the COVID-19 pandemic, but locally we have been able to continue to grow and are rebounding quickly” said Mayor Bob Kirk.

“The numbers of development applications being submitted each week continue to surprise me, and this is obviously being reflected in building approval data. I am certainly going to look towards the results of the Census in August being undertaken later this year with interest, as I expect our population growth figures to be strong.”

Development applications lodged are trending upwards, with the total rising from 365 in 2019 to 433 in 2020. When including modifications, complying development, subdivision certificates, construction certificates and other planning certificates the total figure rose from 2,013 in 2019, to 2,267 in 2020.

Upper level forecasts within the Goulburn Mulwaree Urban & Fringe Housing Strategy predicted population growth in region to 37,202 by 2036, with the average projection forecasting growth to 35,176 residents.

“It would not be unrealistic to now predict that the population of Goulburn Mulwaree will reach 40,000 by 2036” said Mayor Kirk.

Employment in the region is also on the rise, with Goulburn Mulwaree coming through the economic effects of the pandemic remarkably well.

“The unemployment rate as of the end of 2020 for the LGA was 5%, and I expect that this will fall even further when we receive our statistics to the end of March this year. We compare favourably with regional NSW where unemployment is as high as 5.9%, and Australia which was at 6.5% at the end of the year” said Mayor Bob Kirk.

The 2021 census will provide a snapshot of who we are, and how the region is changing. It will be held on Tuesday 10th August 2021, with results expected to be released in mid-2022.

Source: Goulburn Mulwaree Council