Last week the ABS released the March building approvals data which showed approvals across the nation grew (in Trend terms) by 1.0% for the year while in Queensland they continued to decline, down 7.8% (see details here). Today we got the original ABS regional data which allows us to update our own Conus Trend series. This shows that approvals in Greater Brisbane were down 4.9% while in the Rest of Queensland the decline was substantially greater, dropping by 11.7% to a new record low.
When we consider the data for the SA4 regions in Queensland we see Cairns was down just 2.6% while Townsville (from a very low base) has recovered 63.4% for the year. The variation between regions across the State can be seen when we consider that Brisbane-North and Brisbane-Inner City were both down about 30% y/y while Moreton Bay-South was up nearly the same amount.
The data at the Local Govt Area level shows a Trend reduction of 9.7% in the Cassowary Coast (to 5) and a drop of 13.7% in the Tablelands (incl Mareeba) to 13 while Cairns Regional Council (inlc Douglas) saw a 11.1% lift to 47. Townsville City Council was up 60.4% to 48.
The full Conus Trend Regional Building Approvals data for the Queensland SA4 regions is available for download below. Please feel free to use this data but kindly acknowledge Conus when you do so.