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After the Victorian unit led surge in approvals in February (see here for details) the market was prepared for a substantial decline in the March data. The result was rather better than expected with just a 4.0% m/m decline (seasonally adjusted). The less volatile Trend series moved back into positive …read more
The release this morning by the ABS of their original regional approvals data for Feb allows us to update our own Conus Trend series. What we see is that, while Trend approvals across QLD fell 3.5% y/y, in Greater Brisbane the decline was just 2.1% with the Rest of Queensland …read more
Residential Building Approvals in February were up 19.9% m/m for a 5.8% decline over the year (seasonally adjusted). The less volatile Trend series showed a monthly increases of 1.0% for a decline of 2.5% over the year. While these are rather encouraging numbers (albeit from the pre-COVID-19 era) it should …read more
As we noted last week (see here), the decline in building approvals appears to have at least slowed. Today sees the release of the original ABS regional approvals data which allows us to update our Conus Trend series. This shows that the bulk of the ‘improvement’, in the form of …read more
The ABS release of residential building approvals for November confirms the slide continues; although the rate of that decline has certainly slowed. Seasonally adjusted data for Australia shows approvals were up 11.8% m/m and remain just 3.8% lower than a year ago, which is the best result since the middle …read more
Data today for Ocotber shows no sign of the slide in residential building approvals stopping; although, if we’re looking for positives, then the Trend rate of that decline sits at it’s slowest for a year. In Australia approvals fell 8.1% m/m or 23.6% for the year (seasonally adjusted). Given the …read more
Last week saw the national and state building approvals data show a continued decline, although the pace of that decline has slowed. Queensland Trend approvasl fell by 19.1% y/y which was the slowest rate of decline in a year. Today’s original data from the ABS (when seen through the lens …read more
We’ve been away for a couple of weeks and, while enjoying the delights of the Canberra Centenary Trail (and Canberra in general), quite a bit of data has landed. So, without wishing to rake over old coals and repeat commentary that you’ve no doubt already seen, I thought it worth …read more
The release of Building Approvals data for August is yet another disappointing set of numbers. Trend approvals fell 3.9% m/m and are now down 25.6% y/y. House approvals are down 15.8% y/y while units are off 38.8% y/y. For the past few months the data has suggested (see here) that …read more
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 …read more
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