Pool approvals decline 18 percent

Latest pool data shows an 18 per cent decline in new pool approvals over the 12 months to October 2008 compared with the previous 12 months.

 

This conforms with anecdotal evidence which had been suggesting a roughly 20 percent decline due to poor weather and the continuation of concerns about the drought, combined with interest rate concerns earlier in the year, and financial crisis issues later in the year.

 

While the data shows all markets are down, WA has suffered the least setback, down only eight percent, while Qld is down 13 per cent, Victoria down 19 per cent, NSW down 20 per cent and SA down 23 per cent.

 

The figures come from Reed Construction Data (1800 80 60 60).