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Last week, when the ABS Building Approvals Trend for April was released, we noted that there appeared to be early signs of a possible bottoming-out after a period of sharp falls. Today the release of the Conus Regioanl Building Approvals Trend data (derived from the ABS original data released yesterday) suggests that is indeed the case and that it’s being caused by approvals in Greater Brisbane showing signs of recovery.
Trend approvals in Greater Brisbane increased to 1,454 (up from an upwradly revised 1,448 in March), although this is still 31.8% below the level 12 months ago. Trend approvals in the Rest of Queensland fell slightly to 1,035 (after March was reviesd up to 1,042) which represents a 32.4% decline for the year.
When we dig a little deeper into the Trend data we see that the improving story in Greater Brisbane is being driven by approvals in Brisbane-North which have risen for the past 5 months.
In our own region we see Trend approvals in Cairns SA4 at 58 (down from 59 in March) for a decline of 55.7% y/y. In Towsnville SA4 Trend approvals also appeared to have bottomed (at record lows) and are unchanged at 32 (down 41.7% y/y).
We can also consider the data at the Local Government Area level. In our region this shows Trend approvals in Cairns Regional Council (incl Douglas Shire) at 36 (down 58.2% y/y), Cassowary Coast Regional Council at 5 (down 25.9% y/y) Tablelands Regional Council (incl Mareeba Shire) at 16 (down 31.6% y/y) and Townsville City Council at 27 (down 37.5% y/y).
The full set of Conus Regional Building Approvals Trend data for the QLD SA4 regions is available for download below. Please feel free to use this data but kindly acknowledge Conus when you do so.
Conus Regional Building Approvals Trend QLD – Apr 2019
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series