A closer look at Building Approvals in Greater Brisbane

Today’s Conus Trend regional building approvals data shows that in January Trend approvals were up 24.3% y/y in the Greater Brisbane area (against a rise of 9.1% across the state and a fall of 7.1% in the Rest of Queensland). So what areas in the Greater Brisbane region have been doing particularly well?

Within the city itself Inner City approvals are up 144.6% (as unit approvals stop their rapid declines…see below), while Brisbane West is up 23.7%. Trend Approvals in Brisbane East are down 39.1%. The South and North are both recovering (up +13.6% and 21.2% respectively) but remain well off recent highs.

Outside the city we see Trend approvals up strongly in Logan-Beaudesert (+38.1% and close to record highs). Moreton Bay North (+43% and also close to record highs) and Moreton Bay South (+37%) while in Ipswich approvals are down 9.4% having moved up strongly in 2014-2016.

 

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