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The residential building approvals data from the ABS for June show another steep decline. Approvals fell 4.9% m/m (seasonally adjusted) which takes the year-on-year decline to 15.8%. House approvals are down 6.4% for the year while units are off 30.2%. In Queensland total approvals fell 10.9% m/m and are now …read more
Residential building approvals fell by 16.4% m/m and were down 11.6% y/y in May as large declines in unit approvals, particularly in NSW and Victoria took hold. Across the nation as a whole unit approvals fell almost 30% for the year while house approvals were marginally higher (+0.6%). In Queensland …read more
The release of the ABS original regional building approvals data allows us to update our Conus Trend series for April. Lats week we saw nationwide Trend approvals up 3.9% for the year while Queensland registered a 6.4% decline. Today’s data allows us to see that Greater Brisbane approvals fell 8.7% …read more
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
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