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ABS data for December building approvals show further declines. Seasonally adjusted approvals fell 1.2% m/m for a fall of 11.4% over the year. In December house approvals were down 2.2% from Nov and dropped 9.8% from this time a year ago while unit approvals fell by just 0.1% for the month but are down 13.3% from a year ago. The less volatile Trend series has total approvals down 2.5% for December and falling 13.2% from a year ago.
In QLD the declines are even greater. Although seasonally adjusted approvals fell just 0.1% m/m they were down 26.1% over the year. In December house approvals were down 2.1% for the month and dropped 12.9% from this time a year ago, while unit approvals rose in December by 3.5% they were down 41.3% from a year ago. The less volatile Trend series has total approvals down 4.9% for December and falling 29.0% from a year ago.
Regional approvals data will be released next week at which time we shall update our Conus Trend series for all SA4 regions and our local LGAs.
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series