We have just returned from holiday so are now catching up on some data released during our absence. Last Tuesday saw the release of the ABS original regional building approvals data at both SA4 and Local Government Area level. Our own Conus Trend series help shed light on these highly volatile series.
If we look at the LGAs in our region first; we see Cairns Regional Council (including Douglas Shire) recorded very weak approvals in August (original data just 32) which has seen the Conus Trend fall to 56 while July was revised down to 59 (from 69). The Cassowary Coast Regional Council was also weaker (original just 5) which saw the Conus Trend stable at 8 after July was revised down from 9. On the Tablelands (including Mareeba) things were somewhat better (original 27) which has the Conus Trend stable at 19 after July was revised up from 17. Townsville City Council has seen a solid bounce (original data 108) which has the Conus Trend at 76 after July was revised from 68 to 74.
At the SA4 level Cairns sees a big decline (original just 64) which has the Conus Trend fall to 81 after July was revised down to 85 from 97. This represents a decline in Trend approvals of 29.1% from this time last year.
After a series of very weak numbers for Townsville we have finally seen some recovery. Original data for August came in at 109 which has seen the Conus Trend improve to 78 after July was revised stronger to 76 (from 72). The year on year decline in Trend Townsville approvals now stands at 15.8%.
The full set of Conus Trend QLD Regional Building Approvals data is available for download below. Please feel free to use this data but we appreciate you crediting Conus if you do so.