Thursday, January 9, 2014

Building approvals November

The world is slowly trending back to normal as the new year evolves with retail and building approvals data released today. Most of the focus has been on healthy retail numbers but Conus has posted comment on the Australian and Queensland building approvals as well as our local regional numbers: Units skew building approvals.

Unit approvals, for obvious reasons tend to be more lumpy, but yet again this sector is entirely missing in Cairns where approvals remain all houses:
In Cairns the total approvals number fell to 51 (from 76 in Oct). The Conus Trend series also showed a decline falling to 53 (from a downwardly revised 54 in Oct). Although the Trend data has drifted marginally lower in recent months, we should bear in mind that at the start of the year Trend approvals were running at just 38 per month.
There is also comment and graphs at Queensland Economy Watch:  Good news for Qld building industry as new apartment approvals surge

I posted last month on the North v South divide (Rising tide for beaches building) which is based on the SA2 data and will update that graph again:

To put this trend in summary numbers these are the total dwelling unit approvals for the last few years. The final column there is simply South Cairns approvals as a percentage of the North.

       South        North       S/N %
FY    2012 216 200 108.0%
FY    2013 178 234 76.1%
YTD 2014 98 160 61.3%

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