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ABS data this morning for Building Approvals in July beat market expectations. Seasonally adjusted approvals were up 2.5% for the month (against expectations around +1.7%) for a 9.4% increase on the year. The bulk of the increase came from the highly volatile units sector, with housing approvals up by just …read more
The Master Builders of Queensland Survey of Industry Conditions for June 2014 has been released, and it continues a trend of being rather more optimistic than either general current conditions or their own respondents recent results would appear to justify. Both Queensland Economy Watch and Loose Change have covered the …read more
Today’s Cairns Post carries an article which starts with “Building approvals are booming”. Unfortunately for the Post the article then goes on to quote from sources which clearly indicate that approvals are not in fact “booming”. Consider the following quotes.. Rick Carr in the July’s HTW Cairns Watch (from which the article …read more
Today’s release of ABS Building Approvals data for June showed a surprise decline of 5% (seasonally adjusted) for a 16% increase over the year. Both houses and unit approvals fell. The less volatile Trend series showed a monthly fall of 1.1% for a year on year gain of 7.9%. Despite …read more
The Building Approvals data for May would appear, on the face of it, to be very strong. The market had been expecting a rise of about 3.2% m/m in the seasonally adjusted data. Instead the result came in at +9.9% (+14.3% y/y). However, the strength is primarily down to very strong …read more
As we noted a few days ago (see here) the Building Approvals situation in Cairns is improving with the Conus Trend data showing a slight increase for April (after some sharp downward revisions to previous months).Today’s Cairns Post is running a rather excitable article, quoting the Deputy Mayor, talking about approvals …read more
As was the case last month (see our commentary here), nationwide and state building approvals have come in much weaker than expected; this month FNQ has also weakened.Seasonally adjusted approvals nationwide fell 5.6% in April (against expectations of a rise around 2%) and were up just 1.1% from a year ago. …read more
“Building approvals, tourism figures, unemployment rate, real estate market, private sector investment…all much stronger now than at any point of the past five years under the former Labor Government.” So says Member for Cairns Gavin King on his Facebook page referring to a speech he made in parliament on May …read more
Nationwide building approvals for March have come in much weaker than expected. Seasonally adjusted data showed a 3.5% decline on the month for a 20% increase over the past 12 months. The Trend data confirms the slowing with a second consecutive monthly decline (-0.8%) for a 21.9% increase over the …read more
This morning’s release of building approvals data showed a sharp 5% decline m/m in the country as a whole (this still left the annual increase at 23.2%), as units fell sharply (-7.7%); houses also fell 2.1%. These are always highly volatile numbers so the Trend series is much preferred; this …read more
We are proud to have CBC Staff Selection as supporters of the Conus/CBC Staff Selection Trend Employment and Jobseeker data series