Following on from the solid building approvals data last week for the nation and State (see here), today sees the regional data also showing a strong trend in the Far North.
Approvals in Cairns and Douglas came in at 59 in August, Cassowary Coast at 11 and Townsville at 148. These highly volatile figures need to be considered in the light of the Conus Trend series which are:-
Cairns and Douglas – 69 (up from a downwardly revised 64 in July)
Cassowary Coast – 9 (unchanged from July)
Townsville – 150 (up from an upwardly revised 142 in July)
The Cassowary Coast details shows 3 unit approvals in Innisfail (the first since 2012-13) and 4 house approvals in the Tully SA2 area (which includes Mission Beach and Cardwell).
The graph below clearly shows the ongoing improvement seen this year. (Note…the CCRC line shows the fact that the Conus Trend actually increased from 8.9 in July to 9.4 in August…both rounded to 9).