The regional Building Approvals data from the ABS (released last week while we were away) allows us to update the Conus Trend series for the QLD regions. While approvals in July across QLD were down 16.2% y/y, the Conus data shows that most of that fall is occurring in the Rest of Queensland (where Trend approvals are down 22.3% y/y) while Greater Brisbane is down just 2.3% y/y.
Across the regions result vary enormously from the Gold Coast, where approvals are down 45.4% y/y, to Moreton Bay-South where they are up 31% y/y. In our own area Cairns sees Trend approvals at 72 (the highest monthly total since Dec 2018) for an increase of 6.2% on the year. Townsville approvals sit at 43, which is a 3.8% decline from 12 months ago.
The full 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.