The surge in regional Building Approvals is waning

Data today from the ABS confirms that the recent slowdown in building approvals growth we have seen across Queensland (year/year increase in August down to +32% from +96% as recently as March) is being driven primarily by a slowdown in the regions.

The August regional data from the ABS, when seen through the lens of the Conus Trend, shows Trend approvals in Greater Brisbane at 1,794 down from 1,909 at the start of the year while in the Rest of Queensland the Trend sits at 1,487, down from a recent high of 1,821.

When we consider the North of the State we see Cairns sitting at a Trend level of 100 approvals (down 1.2% y/y) while Townsville remains strong at 92 (+41.2% y/y). The Local Govt Area data shows Cairns Regional Council (incl. Douglas Shire) at 71 (-4.0% y/y), Cassowary Coast Regional Council at 10 (+63.0%), Tablelands Regional Council (incl. Mareeba Shire) on 21 (-12.8%) and Townsville City Council at 80 (+28.4% y/y).

The full data set of the Conus Trend Building Approvals for all the QLD regions is available for download below. Please feel free to use this data but kindly acknowledge Conus when you do so.

Conus Regional Building Approvals Trend QLD – Aug 2021

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