Regional Building Approvals show it’s the regions turning QLD around

Posted on September 6, 2019 by Pete Faulkner - Building Approvals, Cairns, QLD, Townsville, Uncategorized

Last week we noted that the ABS Building Approvals data for July was further evidence of a (very slight) turn-around in the downward Trend in Queensland (see here for details). We noted then that Trend building approvals across the State were up for the 5th month. Today’s release by the ABS of the original regional data (when seen through the lens of the Conus Trend) allows us to see that this recovery is being driven almost exlcusively by the regions rather than Greater Brisbane. Trend approvals in Greater Brisbane were unchanged in July are remain 23.1% lower than a year earlier. In the Rest of Queensland Trend approvals rose (for the third month) and are now down 20.8% from a year earlier. Both results are somewhat better than the national Trend which is down 24.0% for the year.

When we consider the data in more detail we see that in our own region Cairns SA4 is upslightly for the month (for the 4th month) with Trend approvals at 71 (still down 23.9% for the year) while Townsville SA4 is also up (for the 6th month) to 44 Trend approvals (up 2.1% from the very low levels a year ago). While this is undoubtedly good news for Townsville Trend approvals remain at very low levels considering historical averages.

Fitzroy, while still at the low level of 42, is up 64.8% from a year earlier!

When we consider the data at the Local Govt Area level we see the Cairns Regional Council (incl Douglas Shire) at 51 (up 4 for the month) which is 21.9% down y/y; Cassowary Coast Regional Council at 5 (down from 6) which is down 18.5% y/y; Tablelands Regional Council (incl Mareeba Shire) unchanged at 14 (down 26.4% y/y) and Townsville City Council up at 38 (previously 37) which is up 2.7% y/y.

The complete Conus Trend Regional Building Approvals 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.

Conus Trend Regional Building Approvals QLD – July 2019