Building approvals for February were released by ABS earlier this month. I hadn’t updated my own files for some time and I’m a bit circumspect about some of the data here. This was noted in the previous January edition of CairnsWatch:
Building approval figures previously issued for the Cairns Regional Council area for the period July 2015 to September 2016 have been revised significantly upwards by the ABS, with the result that the declining building approvals trend previously reported by CairnsWatch for this period is nowhere near as sharp. However the post-September figures, for October and November 2016, remain just as lacklustre as before, and just as enigmatically indicative of a plummeting trend. At face value, building approvals for Cairns have fallen in trend terms by 51.7% between November 2015 and November 2016. However this may or may not be real!
I currently can’t reconcile some of the monthly numbers I now have with what has been previously graphed at CairnsWatch for particular months, so am uncertain if this can be attributed to further revisions or I should check my own files. Anyway, this is my currently updated Cairns SA4 regions with Conus Trend overlay:
Current data updated anyway at Building Approvals and commentary on most recent monthly numbers at Conus: Little joy for the North in the Regional Building Approvals data