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Regional ABS data for April shows building approvals in the Cassowary Coast slowed sharply, despite positive comments from the Council about first quarter data in the local press just last week (see our previous commentary on what appeared strong data). Unadjusted approvals in April were just 2 (after 11 in …read more
The Building Approvals data for April has come in weaker than anticipated, but the result is due to the (highly volatile) units sector experiencing heavy falls in the month. Seasonally adjusted data shows total approvals fell 4.4% on the month for a 16.3% increase over the year. However, house approvals …read more
The ABS data for regional housing approvals in March released this morning show the positive trend in the Far North continuing, despite the headline data for Cairns weakening slightly from Feb. The unadjusted data from the ABS is notoriously volatile so we need to consider the Conus Trend series to …read more
The Building Approvals data for March released today has beaten market expectations and cemented a strongly positive trend both at State and National level. The seasonally adjusted data showed total approvals up 2.8% for the month (against expectations of a 1.6% fall); this equates to a 23.6% increase over the …read more
Last week’s building approvals data for Feb saw a big correction from the stellar Jan figures (see here) so we might have expected things to have eased slightly in the Far North too; in fact that has not been the case. The raw, unadjusted ABS data shows Cairns (incl Douglas) had 71 …read more
ABS data released today for Feb show building approvals reversing some of the strong growth seen in Jan (as had been broadly expected). On a seasonally adjusted basis Feb saw a 3.2% decline (driven by a 6.6% dip in unit approvals) for a 14.3% increase over the year. The less …read more
After the stellar performance of the January Building Approvals data in QLD (see commentary here) last week it is pleasing to see the improving trend reflected in the regional data for the Far North released by the ABS today. The raw unadjusted data shows approvals in Cairns at 60 (63 when we …read more
Today’s release of Building Approvals in January has surprised the markets with a seasonally adjusted 7.9% increase (against expectations of a 1.8% decline). In addition previous months have been revised sharply higher. The seasonally adjusted annual growth figure is now 9.1%, slightly weaker than the 9.6% rate of Dec (although this was revised …read more
Mark Beath at Loose Change has an excellent post on the latest Master Builders Survey of Industry Conditions for the Dec 2014 quarter. As Mark highlights, the forecasts from the survey have a rather chequered history when compared to actual results. Nevertheless, in the Far North area the survey has …read more
Despite some improvement in the residential building approvals in QLD (see here), today’s release by the ABS of the regional approvals for Dec shows a slight dip in the Far North council areas. The headline figures show a total of 50 approvals for Cairns (incl Douglas) and 3 for the …read more
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