September Rental Data

September quarter rental data from the Residential Tenancies Authority generally continues recent trends with some recovery from a base in Mackay now evident.

Rents1Rents2

The rental gap between Cairns and Townsville continues to widen.

Rents3

Regional building approvals data was also released yesterday and it finally looks like the initial stage of the proposed Nova development has quietly fallen into the ABS data in August  includes the apartment component of the GA Group development on Abbott St with 110 units approved in Cairns City SA2 with a nicely rounded $50 million building value. This could create some interesting statistical challenges going by this Cairns Post report:

Statistics from Master Builders Queensland shows the number of dwelling approvals leapt 44.9 per cent in three months.
Approvals for houses grew 10.4 per cent over the same time period and grew two per cent over a 12 month period.
In the past year unit approvals dropped 7.9 per cent but over the past three months, they skyrocketed 621.1 per cent.

Apart from Nova GA Group unit approvals so far in the first months of FY18 have totalled four (4) in Manoora. The Post would probably be wise to stick to Conus for the statistical commentary: Building Approvals jump in the Far North

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