Today’s release of regional building approvals data shows that the poor performance being seen in QLD (see here) is due to declines in the regions. Trend approvals across the state were up just 4.4% y/y in December but when we look at the regional breakdown (by way of the Conus Trend series) we see that Greater Brisbane recorded a y/y increase of 25.8% while the Rest of Queensland dropped 17.3%.
Looking at our own backyard we see Cairns SA4 saw a slight dip in Dec to 87 (from 88 in Nov) but approvals remain up 13.4% from the same time a year ago. In Townsville SA4 Trend approvals also dipped (to 59 from 60) but this represents a 26.3% decline for the year and now sits at a new record low.
At a Local Government Area level Cairns Regional Council (incl Douglas Shire) Trend approvals are at 58 (down from 59), although this is 39.4% higher than a year ago; Cassowary Coast Regional Council is unchanged at 7 and up 17.4% y/y; Tablelands Regional Council (incl Mareeba Shire) were unchanged at 24 and up 13.1% y/y. While in Townsville City Council area Trend approvals also fell (to 52 from 53) and are now down 22.5% from the same time a year earlier.
The full set of Conus Trend Approvals for the QLD SA4 regions is available for download below. Please feel free to use this data (for non-commercial purposes) but we would appreciate you acknowledging Conus when you do so.