Data Snapshot: Building Approvals - QLD Throws the Cat Among the Pigeons

Good afternoon,

 

• Building approvals bounced 6.4% in June nationwide, driven by a recovery in Queensland building approvals. Building approvals in the Sunshine State bounced nearly 38% in June.
• The level of nationwide approvals sits well above the long-run average and indicates residential construction activity will remain elevated over the next 12-18 months.
• Nonetheless, the outlook for building approvals is softer, reflecting weakness in other housing indicators. Strong population growth and robust employment gains will not be enough to halt the softening trend in building approvals.

 

Please see the attached report for more information.

Download.pdf Back to News