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The release by the ABS of the original regional building approvals data for June allows us to update our own Conus Trend series for all the QLD SA4 regions as well as the LGAs in our area. Doing so provides little joy, although it does support the contention from the QLD data (see here for commentary) that we may at least be seeing a bottom from recent declines. Trend approvals in QLD were down 27.4% for the year to June and the Conus Trend series lets us see that Greater Brisbane fell 27.5% while the Rest of QLD was down 27.4% (i.e. there is no difference across the State which is interesting in itself given the relative importance of the unit sector in the Capital and the steep declines seen in this sector in the past).
Digging into the regional data in more detial we see Cairns SA4 with Trend approvals at 70 (up from 66 in May) although this relains down 33.6% from the same time a year ago. Townsville sits at just 34 (up from 33 in May) which is a 29.3% decline for the year. We can at least say that the dramatic decline in Trend approvals in the Townsville region does appear to have come to an end, although any signs of a recovery are yet to emerge.
At the Local Govt Area level we see Conus Trend approvals in Cairns Regional Council (incl Douglas Shire) at 47 (up from 44) but down 35.7% for the year. Cassowary Coast Regional Council is unchanged at 6 (down 7.3% y/y) while Tablelands Regional Council (incl Mareeba Shire) sits at 12 (down from 13) and a decline of 39.5% y/y. Townsville City Council Trend approvals are unchanged at 30 which is 24.9% below their level a year ago.
The full Conus Trend data set for approvals in 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 Trend Regional Building Approvals QLD – June 2019
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series