Sunday, February 15, 2015

Building Approvals for December

Building approvals recovery in CRC appears to have lost some momentum towards the end of last year with December data released last week Regional building approvals dip

An encouraging sign has been increased although patchy activity in the smaller unit sector with 14 dwelling unit approvals in Woree. This actually makes Woree the unit hotspot this year! I'm not sure when and how final approvals for the Aspial project will come through in the data which may make a mess of any attempted analysis.

The SA2 region split between Cairns North and Cairns South:

However also noted with those unit approvals at Woree was that they also dominated Cairns South so when stripped out it was the house sector in the southern corridor which was particularly weak. The most recent CairnsWatch report had noted increasing land prices was related to activity at the Northern Beaches.

As previously noted with house building activity dominated by the North this will also likely skew the median to that area and away from the cheaper land to the South.

Cairns SA4 broken down by SA3 region data:

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