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October Building Approvals from the ABS today shows a 12.6% drop m/m (-24.9% yr/yr) seasonally adjusted. The decline is being driven largely by units (-23.5% m/m and -41.8% yr/yr) while house approvals fall relatively more gradually (-2.5% m/m and -4.5% yr/yr). It would certainly suggest that the peak in unit …read more
ABS data this morning for residential Building Approvals in the Far North paint another disappointing picture after a weak month previously (see here). The original data for September shows that an apparent slight recovery in Townsville in August was merely a blip, and the ongoing weaker numbers elsewhere continue. As …read more
The ABS Building Approvals data for September shows the total across the nation being dragged lower than expected by a sharp drop in unit approvals. Houses actually gained slightly over the month, but remain weaker than a year ago. On a seasonally adjusted basis total approvals fell 8.7% m/m which …read more
We have just returned from holiday so are now catching up on some data released during our absence. Last Tuesday saw the release of the ABS original regional building approvals data at both SA4 and Local Government Area level. Our own Conus Trend series help shed light on these highly …read more
As was the case last month (see here) today’s release by the ABS of Building Approvals data for August shows the ongoing strength of unit approvals driving the total higher. In Australia total approvals (seasonally adjusted) rose by 10.1% over the year, although they fell 1.8% this month. However, from …read more
The ABS have released their original Building Approvals data for July for the regions. The data is provided at both an SA4 (as well as SA3 and SA2) level and Local Government Area. We create the Conus Trend series for all the SA4 regions in Queensland and also for our …read more
The July Building Approvals figures are stronger on the back of renewed unit approvals growth. The seasonally adjusted data for Australia shows total approvals rose +11.3% m/m and are up +3.1% y/y. The breakdown shows house approvals fell -0.6% m/m and were down -3.1% y/y while units were up +23.4% …read more
Yesterday saw the release of the regional ABS Regional Building Approvals data for June. Having completed the Conus Trend analysis we can see that there is very little joy for the North in the numbers (not much of a surprise given the weakness in the State data…see commentary from last …read more
Today’s building approvals data for June highlights the slowdown we’ve been seeing nationally for a few months; and also sees Queensland, which had been holding up, going into decline. At the national level seasonally adjusted approvals fell by 2.9% m/m and 5.9% yr/yr after previous months were also revised weaker. …read more
Last month we noted that the Building Approvals data was being held firm by approvals for units (see here); this month that effect has reversed out as we see the May data fall on the back of weak unit approvals. In May total approvals fell by 5.2% m/m with house …read more
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