Queensland’s flaccid regions
Conus: Regional Building Approvals data shows the regions trailing off
Conus Trend approvals in Greater Brisbane for Nov stood at 2,008 (unchanged from Oct) and up 17.7% from the same time a year ago. In the Rest of Queensland the story was very different with Trend approvals at 1,334 (down from 1,376 in Oct), down 18.8% year on year and the lowest since March 2015.
The aggregated regional data for Rest of Queensland ex Brisbane from the ABS is also heavily influenced by Gold Coast as the largest region (with about a third of approvals currently) and Sunshine Coast as next largest. A comparison over the series between Cairns and Gold Coast:
I always like to aggregate Brisbane, Gold Coast and Sunshine Coast into SEQ for comparison with the remaining ‘Bush’ regions. The Bush here is now at an all time low for the series since 2001:
A closer look over time at those flaccid regions:
Source data is Conus Trend from ABS SA4.
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