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After seeing the weak residential building approvals Sept data for Australia and Queensland last week which showed Trend approvals in Queensland down 7.1% for the year (see here) it’s not surprising to see the regional data released today showing things slipping in our region.
The Conus Trend for Sept shows Greater Brisbane approvals dropping to 1,856 which is 9.5% below the level last Sept. The Rest of Queensland is faring slightly better but is still down 3.7% for the year to 1,398.
When we consider the data at the SA4 level we see Trend approvals in Cairns dropping to 83 (with Aug revised lower) which is now 13.9% below the level a year ago. Townsville Trend approvals remain unchanged at 46 but are still down 35.6% from a year earlier.
Looking more closely at the local data by Local Govt Area shows us the Cairns Regional Council (incl Douglas Shire) Trend falling to 56 (down 12.7% y/y), Cassowary Coast Regional Council up to 8 (down 2.2% y/y) and the Tablelands Regional Council (incl Mareeba Shire) unchanged at 17 (down 28.5% y/y).
Despite the cranes on the skyline in Cairns it is clear that construction remains moribund and this data certainly doesn’t point towards any significant pick-up in coming months.
The full Conus Trend Regional Building Approvals data for Queensland is available for download below. Please feel free to use this data (for non-commercial purposes) but kindly acknowledge Conus when you do so.
Conus Trend Regional Building Approvals QLD – Sept 2018
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