Building Approvals continue to surge in QLD

Data for March shows building approvals across Australia were up 17.4% m/m, for a 47.4% y/y increase. House approvals are up 62.2% for the year while units rose 28.1%.

In Queensland total approvals were up 12.1% m/m but are surging 82.2% above where they were a year ago on the back of a boom in unit approvals (up 129.8% y/y) with house approvals also strong (up 60.4% y/y).

Regional approvals data will be released next week at which time we will update the regional Conus Trend series for Queensland regions.

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