October Building Approvals
Having neglected building approvals data for some time my files are in a mess but data here supports the prevailing narrative with a covid policy induced jump in house approvals. Regional trend analysis at Conus: Far North bucks the regional building approvals trend
Browsing through the data not sure the south side resurgence in land sales reported by CairnsWatch shows up yet as much as I would have thought in approvals. Cairns-North though was boosted by a few small unit developments at the beaches comprising a grand total of ten dwellings.
Despite small numbers outside the urban centres there is a discernible pulse on the Tableland where the Conus Trend is up 53% on the year:
Something to watch also is non-residential approvals where activity in Cairns has been a positive contributor in recent years:
Approvals by valuations with an annual average are I think the only way to look at this series given the lumpiness and project times. Major projects in the City such as Cairns Central and the Convention Centre are due for completion in coming months.
Leave a Reply