Today saw the release of the ABS original regional building approvals data for June, which allowed us to update the Conus Trend data series.
While residential approvals fell 17.3% in Queensland in June (see here for more detail) today’s data shows that it’s the regions outside Greater Brisbane where the declines are being seen more sharply. Greater Brisbane fell 13.3% y/y but approvals were down 29.6% y/y in the Rest of Queensland to a new low.
Across the North we see Trend approvals in the Cairns SA4 region fall to an all-time low of just 55, which is a 20.8% decline for the year. In Townsville too approvals were down 4.9% for the year at just 41.
When considering the data at the Local Govt Area level we see Cairns Regional Council (incl Douglas Shire) down 5.0% y/y at 40; Tablelands Regional Council (incl Mareeba Shire) unchanged for the year at 14 and the Cassowary Coast down 43.6% y/y to just 3 Trend approvals in June.
Townsville City Council remains positive for the year (+15.7% y/y) at 37, although this comes off a historically low level for the city in 2018/19.
The full Conus Regional Building Approvals Trend data for QLD is available for download below. Please feel free to use this data but kindly acknowledge Conus when you do so.