<p>Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.</p>

<p><a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.</p>

<p><a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360966]</p>

<p>The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.</p>

<p>The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360965]</p>

<p>Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.</p>

<p>The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360975]</p>

<p>“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.</p>

<p>“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.</p>

<p>"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”</p>

<p>Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.</p>

<p>Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.</p>

<p>[smartcode_project_cta:default project_id=149670]</p>


Joel Robinson

Hirsch & Faigen unveils The Eveleigh in Broadbeach

<p data-end="303" data-start="0">Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.</p>

<p data-end="556" data-start="305">The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.</p>

<p data-end="926" data-start="558">UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.</p>

<p data-end="998" data-start="928">[smartcode_project:default project_id=136726 project_image_fid=362016]</p>

<p data-end="1361" data-start="1000">There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.</p>

<p data-end="1787" data-start="1363">A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.</p>

<p data-end="1859" data-start="1789">[smartcode_project:default project_id=136726 project_image_fid=362011]</p>

<p data-end="2229" data-start="1861">Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.</p>

<p data-end="2389" data-start="2231">Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.</p>

<p data-end="2510" data-start="2391">“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.</p>

<p data-end="2750" data-start="2512">“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”</p>

<p data-end="2822" data-start="2752">[smartcode_project:default project_id=136726 project_image_fid=362020]</p>

<p data-end="3016" data-start="2824">The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.</p>

<p data-end="3178" data-start="3018">Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.</p>

<p data-end="3333" data-start="3180">The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.</p>

<p data-end="3384" data-is-last-node="" data-is-only-node="" data-start="3335">[smartcode_project_cta:default project_id=136726]</p>


Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

<p>Investor appetite for Queenstown apartments is strengthening as supply constraints and four-season tourism continue to underpin demand across the alpine region.</p>

<p>In Frankton’s masterplanned Remarkables Park precinct,&nbsp;<a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s 141-apartment Mountain Oak development is attracting repeat and yield-focused buyers seeking exposure to that market dynamic.</p>

<p>Brandon, who specifically targeted Queenstown as an investment location, said the combination of price point and limited new supply made Mountain Oak stand out.</p>

<p>“It is a quality product in a location that struggles to densify,” he said, referencing Queenstown’s land-locked geography and development limitations.</p>

<p><img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" /></p>

<p>Having spent significant time in the region, Brandon pointed to its global reputation and consistent visitation as key fundamentals.</p>

<p>“Queenstown is a known destination from people all over the world. The place is land locked and there are issues building there. It’s also busy all year round.”</p>

<p>That four-season economy, driven by skiing and snowboarding in winter and hiking, cycling and water-based tourism in summer, was also central to Sherry’s decision to invest.</p>

<p>“I believe the four-season tourism has major appeal as it would ensure that the property will not remain empty, unlike other areas in NZ,” she said.</p>

<p><img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" /></p>

<p>Mountain Oak has been structured to respond to that sustained demand, with 365-day visitor accommodation consent underpinning a mix of one-bedroom, flexi, two-bedroom and dual-key configurations that can operate as either short-term visitor accommodation or long-term rental housing. Dual-key apartments comprise two self-contained residences on one title, allowing owners to generate dual income streams or occupy one side while leasing the other.&nbsp;</p>

<p>Under Safari Group’s optional visitor accommodation management model, owners receive 60 per cent of the annual income generated by their apartment, with 24/7 on-site management, guest services and listing exposure included. Independent appraisal modelling suggests gross yields of up to 15 per cent for certain two-bedroom configurations, based on estimated nightly rates and occupancy assumptions.</p>

<p>For Brandon, that flexibility aligned with his broader investment strategy.</p>

<p>“It helps to know that I can have it managed either way,” he said. “My focus is on purchasing high yield cashflow properties.”</p>

<p><img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="c786ba7f-f974-4ce3-9833-1bcd9f2938d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_ae3c049f388f4c13bf801649d91cbb4a~mv2%20%281%29.jpg?VersionId=J25uvzGdvtFaXGzuwz28ewJ9wWzbtvur" /></p>

<p>He selected a one-bedroom flexi configuration, citing both yield and adaptability.</p>

<p>“I work remotely and can travel to most places and work. I enjoy making spaces that work for the lifestyle that I live and it seems that others also enjoy it.”</p>

<p>Ranging from 54 to 57 square metres, the one-bedroom flexi incorporates a separate multipurpose room suited to a home office, additional storage, or accommodation for ski gear and seasonal equipment, an increasingly relevant inclusion for buyers balancing remote work and alpine travel.</p>

<p>Interiors feature underfloor heating in bathrooms and a heat pump in the main living area, supporting year-round comfort. Upper-level apartments are positioned to maximise natural light, with sliding windows and balustrades in select residences enhancing outlook and ventilation. Units are available in both light and dark interior schemes.</p>

<p><img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="8f9492e9-8ee0-4aae-856c-8996ed9d9a06" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_7d066f5200024c1aa472d01e2dc776ed~mv2.jpg?VersionId=MLR5xn6fLqPdBi7vxyRT.1zhQX3Ln0Ev" /></p>

<p>Sherry, a repeat Safari Group buyer, said her previous experience with the developer provided confidence to secure another apartment.</p>

<p>“Their developments have always finished on time, the quality has been high, and I didn't feel that my investment may be at risk,” she said. “Knowledge of the developer and our two existing Safari apartments gave us the confidence to proceed with this one.”</p>

<p>Safari Group has delivered more than 2,000 hotel units and residential apartments nationally and is now undertaking its fifth Queenstown development, reinforcing buyer confidence in delivery capability.</p>

<p>Although Sherry was not initially targeting Queenstown due to its price profile, prior visits reshaped her view of the market.</p>

<p>“I absolutely love this region and believe it is a major tourist attraction, which led me to the decision to invest.”</p>

<p><img alt="How Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" /></p>

<p>Construction commenced in June 2025, with completion anticipated by mid-2027. Apartments are priced from NZ$639,000, and the development carries Overseas Investment Office exemption approval, allowing non-residents to purchase.</p>

<p>For both investors, the purchase represents a balance of income generation and long-term portfolio positioning in a tightly held alpine market.</p>

<p>“I firmly believe my investments in Safari developments are a combination of all these elements,” Sherry said. “The location of this project enabled me to diversify.”</p>

<p>As Queenstown continues to attract year-round visitation alongside constrained housing supply, Mountain Oak’s dual-key flexibility, optional on-site management structure and established developer track record are resonating with investors seeking exposure to the region’s resilient tourism economy.</p>


Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand

<p>The Minns Labor Government is today unveiling a game-changing new precinct at Bays West – delivering up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes - directly above the new Bays West Metro Station currently under construction.</p>

<p>The landmark transformation will convert underutilised government-owned port land on the Harbour into Sydney’s newest suburb, while retaining important deep-water port facilities to support Sydney’s working harbour.</p>

<p>Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.</p>

<p><img alt="Bays West" data-entity-type="file" data-entity-uuid="c5f01d10-0b6b-49de-8033-d3ef2728cb6d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.06.12%E2%80%AFPM.png?VersionId=UA6_r._1jYROJ5tFNXMHqjNYLKYWIN.Y" /></p>

<p>Affordable housing will be embedded from the outset, including dedicated homes for essential workers such as nurses, teachers, paramedics, firefighters and police so they can live closer to the communities they serve.</p>

<p>The precinct will combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years.</p>

<p>Night-time entertainment and creative industries will be anchored by the revitalisation of the historic White Bay Power Station as a cultural and community destination, connected to the harbour across a new expansive public forecourt.</p>

<p>Planning of the area will prioritise connectivity, including active transport links to neighbouring communities such as Rozelle, Balmain and Glebe, improved pedestrian access to the waterfront, and connections to the CBD, including an active transport link across the Glebe Island Bridge.</p>

<p>The Government will lead a master planning process that will include an international design competition to guide development across the precinct, ensuring homes, essential infrastructure, jobs, public spaces and transport links are delivered together.</p>

<p>It will be led by a new delivery agency to be established over the coming weeks, which will report to Minister Kamper who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo. Once established, the publicly owned land in the precinct will be transferred to the new agency.</p>

<p>This is the first new suburb that has been built in inner Sydney in decades, it will see homes built alongside the Bays West Metro Station ensuring young people, families and downsizers are only minutes away from the CBD. As part of the transformation of the Bays West precinct, bulk port operations – including cement, gypsum and sugar handling – will cease on Glebe Island by no later than 2030.</p>

<p><img alt="Glebe" data-entity-type="file" data-entity-uuid="46ef3c23-2ce1-4912-b8ba-5247de19d7b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.02.15%E2%80%AFPM.png?VersionId=I5xKa7hLNlsueMsltA2dsYrRYtZCKvZz" /></p>

<p>The Government will work closely with industry to minimise impacts and ensure the continuity of supply. This includes a commitment of $270 million to improve road connections around the port at Port Kembla and to investigate increased rail freight capacity.</p>

<p>Working harbour operations across the precinct will be consolidated, mostly into White Bay, ensuring the precinct will continue to provide critical services for the harbour, including boat maintenance and marine construction and as a base for tug boats and for emergency services.</p>

<p>A new staging area will be established in White Bay, securing the future of the New Year’s Eve fireworks, Vivid and other major events for decades to come.</p>

<p><img alt="Glebe island" data-entity-type="file" data-entity-uuid="0554b153-b225-445b-a633-75aecea7dec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.06.17%E2%80%AFPM.png?VersionId=P45ABy8KLuwjzVf04APWfeC4aOMA1Ngx" /></p>

<p>The cruise terminal will be retained in its current location, meaning tourists arriving in Sydney will be welcomed by the new precinct, with new shore-power facilities currently being installed that will reduce noise and emissions. The Sydney Heritage Fleet will also be offered new premises in White Bay.</p>

<p>Deep-water berths will be retained to preserve Sydney Harbour’s strategic operational capability, and the removal of the existing 1970s industrial silos, currently used as a billboard, as well as to store cement and sugar, will unlock new opportunities for public space and future housing.</p>

<p>“Right above a new metro station and minutes from the CBD, we’re delivering thousands of homes where people actually need them - close to work, close to services and close to transport,"&nbsp;Premier of New South Wales Chris Minns said.</p>

<p>“Importantly, this precinct will include affordable and essential worker housing from day one, so nurses, teachers, paramedics and police can live closer to the communities they serve.</p>

<p>“We understand that not everyone will welcome change, but cities don’t stand still. If Sydney is going to remain a place young people and families can afford to live in, we have to use well-located land better and plan for the future.”</p>


Glebe Island to accomodate 8,500 new homes near new Bays Metro Station

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a> has unveiled its exclusive penthouse collection at&nbsp;<a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Amargo</a>, its new apartment development in Palm Beach.</p>

<p>There are just four penthouses as part of the collection, however only three remain for sale, with a Palm Beach local already snapping up one of the apartments prior to its launch.</p>

<p>&nbsp;</p>

<p>“We are thrilled to unveil the debut penthouses within the Flourish story,” said Christie Leet, founder of Sherpa Group.</p>

<p>“The penthouses epitomise unparalleled luxury and contemporary elegance, offering an exclusive experience in modern living.”</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=362273]</p>

<p>Located at 6-12 Sixth Avenue, the penthouses will crown Amargo, which will rise 18 levels and offer a diverse product mix of one, two, and three-bedroom apartments, attracting a wide demographic of buyers.&nbsp;</p>

<p>“Creating a multigenerational community is core for us at Sherpa," Leet added.</p>

<p>"Amargo embodies this ethos, welcoming first-home buyers, families and right-sizers alike – ensuring everyone has the opportunity to thrive.”</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=362271]</p>

<p>The penthouses, which range in price from just over $3 million to $4.6 million, each have three bedrooms, three bathrooms, and extensive balconies. Select penthouses will have&nbsp;dedicated media rooms. They have four-metre-high ceilings, Gaggenau appliances, and natural stone materials.</p>

<p>Flourish is crowned by an&nbsp;800 sqm rooftop retreat with a&nbsp;pool, pool deck cabanas and day beds, private outdoor barbecues and pizza oven, an internal private dining space, as well as a gym, yoga zones, steam rooms, and hot and cold magnesium pools.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=306037]</p>

<p>“We’re really excited about what we’re delivering here- Flourish is more than just apartments; it’s about creating a place where people feel truly at home,” Leet said.</p>

<p>Construction is already well underway on Amargo, with residents expected to move in by Q2 2027. The project is around 85 per cent sold.</p>

<p>[smartcode_project_cta:default project_id=146527]</p>


A first look inside Flourish penthouse collection at Palm Beach

Construction Activity

<p>Construction have recently started on WOVA, the latest project from Geocon, Canberra&#39;s largest residential developer.</p>

<p>Following the recent decision to reopen large-scale construction in the ACT, which delayed works that were projected for mid-2021,&nbsp;the $400 million project is Geocon&#39;s main priority following the near completion of it&#39;s Republic precinct of which Nightfall is the latest and final release.</p>

<p>The&nbsp;multi-staged master-planned community will&nbsp;comprises 797 apartments built across four buildings.&nbsp;WOVA will include a signature 24-storey tower on Launceston Street, a 16-storey building behind it fronting Furzer Street, a 12-storey building next to that and a&nbsp;12-storey building on the corner of Launceston Street and Melrose Drive.</p>

<p>[smartcode_project:default project_id=7947 project_image_fid=186442]</p>

<p>Short for <strong>WO</strong>den Re<b>VA</b>mped, the first apartments on offer are for those in the signature tower,&nbsp;home to more than just 271 apartments. It has&nbsp;701 sqm of retail space and five floors of amenity for residents, including a resort-style lap pool, a movie theatre, and resident&rsquo;s lounge, complete with a cocktail bar.</p>

<p>There are also dozens of cafes and eateries surrounding WOVA, beyond its own commercial and residential ground floor featuring eateries, cafes, boutique retail and convenience stores. Residents and visitors can stroll the&nbsp;more than&nbsp;3,000 sqm of landscaped gardens across the precinct.</p>

<p>[smartcode_project:default project_id=7947 project_image_fid=186444]</p>

<p>Designed by the award-winning&nbsp;Fender Katsalidis&nbsp;and Oculus Urban Design, WOVA apartments will feature large terraces and functional living areas. Buyers&nbsp;can choose from three different colour schemes.</p>

<p>The one-bedroom apartments benefit&nbsp;from the ACT government&#39;s recent scrapping of stamp duty for homes under $500,000,&nbsp;with prices starting from as low as $319,900.</p>

<p>Two-bedroom apartments start from $513,900, while three bedroom apartments begin at $1.25 million.</p>

<p>[smartcode_project_cta: project_id=7947]</p>


WOVA is on track to meet it's schedule 2024 opening date following the ACT government's recent decision to re-open large scale construction

jordan_55689

Construction begins on Geocon's Canberra apartment development WOVA 

<p><strong>EXPERT OPINION</strong></p>

<p>Some good news for the property construction industry &ndash; urgent meetings with the most senior officials from Treasury, Infrastructure NSW, the Department of Planning and the Department of Premier and Cabinet have seen the first big steps towards correcting the construction industry closedown travesty.<br />
&nbsp;<br />
Each of the Peak industry representative has been involved and it is clear that the NSW Treasurer is keen to get things back on track. &nbsp;Hearing today that the Premier is also expecting to see the construction industry back into operation on July 31 is great news.<br />
&nbsp;<br />
Urban Taskforce has called for the government to follow some basic steps to avoid the mayhem that followed Saturday&rsquo;s knee-jerk closedown decision (which we now know was not recommended by Health officials):<br />
&nbsp;<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Set a firm plan for re-opening<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Give plenty of notice (this week if possible)<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Consider staged opening as early as next week (the Victorians called this a &ldquo;pilot light operation starting with 25% of the workforce on-site)<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Give health sector, cabinet and community confidence that what is being done is safe<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Ensure effective communication and plans for all sectors of the construction industry including all communities within the workforce<br />
&nbsp;<br />
It is great to see that the government is now preparing an overarching plan to progress towards a full re-opening of the construction industry by 31 July. Industry made clear that we would very much welcome any requirements for the re-opening of sites to be made available to us ASAP and be locked in.</p>

<p>[smartcode_project:default project_id=32227 project_image_fid=93950]<br />
&nbsp;<br />
Urban Taskforce stresses that the construction sector is not a &ldquo;tap&rdquo; which you can turn on and off at a whim.&nbsp;<br />
&nbsp;<br />
An early, staged opening would allow for:<br />
&nbsp;<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Site preparation<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Site safety and security associated with re-start<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Delivery of supplies (logistics firms, plant and equipment and material suppliers would all need to be brought into the loop here)<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; Establishment of all new COVID safety measures including signs and site protocols<br />
&middot; &nbsp; &nbsp; &nbsp; &nbsp; On large infrastructure sites, PCR Covid testing for construction workers may be recommended for a once in 7 day test &ndash; pending health advice on the need and the capacity of the health system to cope (given the need for community and priority workforce testing)<br />
&nbsp;<br />
The government is considering the opening all construction industry sectors simultaneously. &nbsp;This is common sense and welcome. A staged set of opening requirements which are &ldquo;fit for purpose&rdquo; are being developed.<br />
&nbsp;<br />
Urban Taskforce remains concerned that some in the government appear to miss-understand the reason for the closedown. &nbsp;It was a clumsy effort to limit the mobility of people around the city &ndash; with zero reference to actual worksites being locations where COVID-19 has been transmitted or passed on.<br />
&nbsp;<br />
Government officials have acknowledged that construction sites are actually NOT a problem in relation to spreading COVID. This is backed up by the Health Exposure Web-site.<br />
&nbsp;<br />
The existing strict COVID-19 safety protocols that have served the construction industry so well to date will be strengthened and additional compliance measures will be applied.</p>

<p>[smartcode_project:default project_id=7317 project_image_fid=79239]<br />
&nbsp;<br />
The NSW government has responded to the community and industry backlash and is now listening to all the right people. &nbsp; We will continue to work with government to develop a balanced proposal for the re-opening of the industry. These measures will then be considered by Cabinet, in context and without panic.</p>

<p>Tom Forrest is CEO of the Urban Taskforce Australia is a property development industry group, representing Australia&rsquo;s most prominent property developers and equity financiers</p>


jonathan_55692

Urban Taskforce welcomes moves to re-open construction industry

<html><body>
<p>A boom in mixed-use or other sector projects has seen Melbourne record a lift of almost eight per cent in the Q1 2021, according to the latest RLB Crane Index.</p>

<p>Over the last six months there have been 15 cranes added, with four added to each of the $800 million Caulfield Village in Caulfield North and the $220 million Richmond Quarter.</p>

<p>Three cranes were added to the Elizabeth north project in Elizabeth Street, bringing their total number of cranes to four.</p>

<p><img alt="" height="779" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rlb_crane_melbourne.jpg" width="1200"><br>
Melbourne's Crane Index. Source: RLB Crane Index Q1</p>

<p>West Side Place Stage two also has four cranes, while there are three cranes are located at QVM Residences, Sapphire by the Gardens and Union Quarter. These six projects account for 22 of the 39 mixed-use cranes in Melbourne, according to RLB.</p>

<p>The cranes came down at the now completed Docklands Residences in Docklands. Developed by Capital Alliance, Docklands Residences comprises 88 apartments which have been built above a 200 room Marriott Hotel, the first built in Australia for over two decades.</p>

<p>[smartcode_project:default project_id=3205]</p>

<p>Cranes in inner Melbourne fell by seven to 95, the lowest since Q2 2018. That was primarily caused by the completion or near completion of many residential projects which saw residential cranes fall by 16 to 28.</p>

<p>Melbourne's east saw their residential cranes drop to nine, the lowest on record. Residential projects still account for 50 per cent of total cranes in east.</p>

<p>Residential cranes were removed from Camberwell's Anderson Park, the Summit and Alpine Apartments in Doncaster and the Hawthorn East apartment development Hawthorn Park.</p>

<p>[smartcode_project:default project_id=3730]</p>

<p>Developer Dahua Group had Rothelowman create the $300 million Hawthorn Park development alongside landscape architect Jack Merlo, with the standout feature of the 368 apartment development its striking infinity pool linking two of buildings.</p>

<p>Cranes came down at the nearby Toorak Road, Hawthorn East development Brasshouse, Lilydale Grove in Hawthorn East and The Kent in Hawthorn. The East Central tower in Box Hill saw cranes removed, as did Ramsay Gardens in Vermont South.</p>

<p>New cranes were placed for Pace of Blackburn, the modern project from the recent Master Builders Victoria award winners Pace Development Group, as well as Grocon's Denmark Kew and Prospect and Panorama Apartments in Box Hill, among others.</p>

<p>Melbourne's north saw 22 new cranes added with the region hitting 27, just below the record high of 27 in Q2 2018. There were just six removals.</p>

<p>It was busy in Brunswick, with cranes being moved on to the sites of Pellicano's build-to-rent Solarino house, Lucent's The Stewart Collective and Balfe Park Lane Apartments.</p>

<p>[smartcode_project:default project_id=4513]</p>

<p>Home by Caydon in Alphington and the Capella Apartments in Reservoir, developed by Forte Group, each installed two cranes on their sites.</p>

<p>[smartcode_project:default project_id=24441]</p>

<p>Melbourne's north was the only region to see an increase in residential cranes, increasing by 16 cranes to 23.</p>

<p>The south saw an increase of four cranes mainly due to commencement of the Caulfield Village project.</p>

<p>Other new projects in the south include Pavillion on the Park, developed by Sydney One Investments in Armadale, Lowe Living's Azure in Aspendale and Olea Residences in Caulfield.</p>

<p>There's also the family Supportive housing in Dandenong, Prince Corporation's East village in Prahran, Sandringham's Trentham House to be delivered by Carpe and the Loreto old St Georges building in Toorak.</p>

<p>Cranes were removed from Sutherland and Alara in Armadale, Olivia and Brighton Collection in Brighton, Collins &amp; Bates in Chadstone, Eastwood Monash in Clayton and The Glen in Glen Waverley, among others.</p>

<p>[smartcode_project:default project_id=3950]</p>

<p>Melbourne's west grew by four cranes to now total 18 cranes. Footscray remains the central area of crane activity with eight cranes including three new cranes at the new mixed-use project at Union Quarter in Spotswood.</p>

<p>Cranes were also added to Liberty one, 21 Victoria and Riverfront in Footscray and Kings Village in Kingsville.</p>

<p>[smartcode_project:default project_id=709]</p>

<p>Liberty One, to be delivered by Bensons Property Group, has 350 one and two bedroom apartments across its Warde Street development.</p>
</body></html>

Cranes in inner Melbourne fell by seven to 95, the lowest since Q2 2018

Mixed-use projects see crane levels rise across Melbourne

<html><body><p>The latest dwelling approval data reveals a big gap opening up between house and apartment construction.

IFM economist Alex Joiner advised there had been a "big pullback in building approvals."

Approvals for apartments and townhouses dropped by 22 per cent year on year, the lowest level approved since January 2012, in seasonally adjusted terms.

The approvals were down 39 percent month on month with $5bn of new residential builds committed in the month.

ABS construction statistician Daniel Rossi anticipates the HomeBuilder scheme would continue to support the residential construction sector for the next few months.

“The surge in HomeBuilder applications at the end of 2020, as well as the extension of the program to March, will continue to provide support for private house approvals in the coming months,” Mr Rossi said.

https://twitter.com/IFM_Economist/status/1366548452486705152

But the relative weakness in higher-density approvals compared with the detached segment reflects the headwinds of the pandemic, "particularly very weak migration flows," James Foster, the global macro analyst noted.

Foster suggested the migration restraints were "weighing on developer forecasts for demand."

Approvals need to rebound sharply to match forecast required commencements, UBS economist George Tharenou told The Australian Financial Review, however TD economist Stephen Koukoulas suggested the pullback "may go someway to alleviate the looming oversupply issue."

By contrast to high density approvals, approvals for private houses fell 12 per cent in January to 12,100, following their HomeBuilder-induced all-time December high, to be 38 per cent higher than in January 2020.

Approvals for houses also fell across all states in January.

The HomeBuilder stimulus measures had mostly been directed towards the detached segment of the market, Foster noted.   

</p></body></html>

January dwelling approvals fell from their HomeBuilder high in December, but are still sit at elevated levels.

jchancellor

Big gap emerging between house and apartment construction

<html><body>
<p>With construction commencing June, a $960,000 off the plan sale townhouse has been achieved in the four lot Ocean Grove complex, Iluka.</p>

<p>It has been designed with a relaxed ‘kick-your-shoes-off’ luxury in mind, with attention to detail and to light, outdoor integration and its finishes. </p>

<p>The single level contemporary space at 4/96 The Avenue will have two bedrooms, two bathrooms along with a private courtyard, plus a single lock-up garage with internal entry.</p>

<p>It is a collaborative build by MILA Development Group, Avery Constructions, Beers Interiors &amp; Design, Archsign and COS Design Landscaping.</p>

<p>Its finishes will include Hampton Grey timber floors along with soft toned 100% undyed 3 ply pure NZ Wool loop pile carpets. </p>

<p>The sale, at the upper end of its price guidance, was secured by Ben Roberts and Zoe Le Page at Bellarine Property who have listed just two of the four townhouse spaces.</p>

<p>Prices include a three bedroom, two bathroom two car garaging offering at 3/96 The Avenue with $1,295,000 hopes.</p>

<p>The 800 sqm holding with four bedroom 1950s house cost $975,000 in 2019.</p>
</body></html>

A $960,000 off the plan sale townhouse has been achieved in the four lot Ocean Grove complex, Iluka

Sale secured with construction soon to commence on Ocean Grove complex, Iluka

<p>The number of loans for the construction of a new home saw record-breaking levels in November 2020, as the figure, tracked by the ABS, record its sixth consecutive rise.</p>

<p>New home loan commitments in November jumped a further 7.2&nbsp;per cent higher than the record-breaking levels in October 2020 to now be 99&nbsp;per cent higher over the year.</p>

<p>HIA&nbsp;economist&nbsp;Angela Lillicrap says HIA&#39;s new home sales data suggests the detached housing finance approvals will continue to be strong over the coming months.</p>

<p>&ldquo;It is evident in today&rsquo;s data that HomeBuilder has been successful in boosting confidence in the market and creating work on the ground,&rdquo; Ms Lillicrap says, adding that the extension of&nbsp;HomeBuilder will see the strength in housing finance data extend into 2021,&quot; Lillicrap says.</p>

<p>The value of construction loan commitments grew 5.6 per cent in November, rising 75 per cent since July. This follows the June implementation of the Government&rsquo;s HomeBuilder grant in response to COVID-19.&nbsp;</p>

<p>Loans for first home buyers also soared in November, with 13,905 loan commitments from first home buyers&nbsp;the highest since 2009. The number of loans accounted for&nbsp;42 per cent of the total number of owner occupier loans issued in November.</p>

<p><img alt="" height="866" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/record_home_lending_commsec.jpg" width="1200" /></p>

<p>CommSec economist Ryan Felsman says housing activity across Australia is buoyant, supported by record low mortgage rates and government policy initiatives.</p>

<p>&quot;Home prices are lifting, new home sales have hit decade highs and increasing numbers of young Aussies are committing to home ownership,&quot; Felsman says.</p>

<p>New housing loan approvals hit record highs in November with the easing of lockdown restrictions in Victoria (up 19.6 per cent) further driving up home loan demand.</p>

<h2>Am I eligible&nbsp;for HomeBuilder?</h2>

<p>Time is running out for prospective HomeBuilder applicants to to advantage of the&nbsp;$15,000 grant to construct a new home, with the government stimulus set to conclude on March 31. Applications however will now be taken until April 14 2021.</p>

<p>To be eligible for HomeBuilder, below are the criteria:</p>

<p>-&nbsp;Construction must commence within six months of the contract being signed.</p>

<p>- The property value cannot exceed $950,000 in NSW, $850,000 in Victoria or $750,000 in all other States and Territories.</p>

<p>-&nbsp;Applications must be submitted to the relevant State Revenue Office by April 14 2021.</p>

<h2>What can I buy?</h2>

<p>Urban has taken a look at some projects across the country which qualify for HomeBuilder grants.</p>

<p><a href="/buildings/haven-altona-north-278-288-blackshaws-road-altona-north-vic-3025">Haven, Altona Heights</a></p>

<p>Prices: From $605,000</p>

<p><a href="/buildings/haven-altona-north-278-288-blackshaws-road-altona-north-vic-3025"><img alt="" height="778" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/haven_altona.jpg" width="1200" /></a></p>

<p>The Stockland developed Haven in Altona North offers a collection of boutique townhouses, designed by the award-winning SJB Architects. They have two, three and four bedroom townhouses, with prices starting from $605,000 for the two bed, two bath townhouses with a parking spot.</p>

<p>The three bedroom townhouses, spanning nearly 200 sqm, start from $742,000 and the four bedroom townhouses start from $805,000, with 216 sqm of space.</p>

<p><a href="/new-townhouses/luma-sunshine-north-247-st-albans-road-sunshine-north-vic-3020">Luma, Sunshine North</a></p>

<p>Prices: From $545,000</p>

<p><a href="/new-townhouses/luma-sunshine-north-247-st-albans-road-sunshine-north-vic-3020"><img alt="" height="607" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/luma_st_albans.jpg" width="1200" /></a></p>

<p>Development Victoria have secured a prime site in Sunshine North, with a vision to create a brand new collection of 300 townhomes, comprising of two, three and four bedroom configurations.</p>

<p>Prices start from $545,000 for the two bedroom townhouses set in a master-planned community by RobertsDay, with plans for a new 3,600 sqm park.</p>

<p>Sixth Avenue, Chelsea Heights</p>

<p>Prices: From $599,000</p>

<p><img alt="" height="912" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sixth_avenue_chelsea_heights.jpg" width="1200" /></p>

<p>Point Architects have designed the townhomes in the bayside Chelsea Heights, the development of the Aultun Group. They&#39;ve created 59 townhomes with prices starting at $599,000 for the two bedroom townhouses set over two stories. The three bedders start from $650,000 and the four bedroom townhouses from $820,000.</p>

<p>Sixth Ave. Chelsea Heights has already achieved&nbsp;a &lsquo;Best Practice&rsquo; rating for BESS (Built Environment Sustainability Scorecard) with many key sustainable design strategies including a 5 star gas hot water system, water efficient tapware and showerheads as well as bicycle parking provided within each home and recycled water for garden irrigation and toilet flushing. &nbsp;<br />
&nbsp;</p>

<p>&nbsp;</p>


New home loan commitments in November jumped a further 7.2 per cent higher than the record-breaking levels in October 2020.



HomeBuilder impact sees new home loan approvals continue to break record levels

<html><body>
<p><span>I recently spent a bit of time charting the death throes of the resources construction boom. </span></p>
<p><span>As you can see below, although the Northern Territory has been offered a temporary reprieve by the massive $34 billion Ichthys LNG project, engineering construction activity has been hit extremely hard almost everywhere else, particularly so in Western Australia (down by 24 per cent over the past year), Queensland (-38 per cent) and South Australia (-25 per cent).</span><span style="line-height: 1.3em; font-weight: bold;"> </span></p>
<div id="post-body-6634680014865062538" class="post-body entry-content">
<div><a href="/images/2015/08/20/eng2.jpg" target="_blank"><span><span>Click to enlarge</span></span></a></div>
<div><span><span> </span></span></div>
<div><span><span><img src="/images/2015/08/20/eng2.jpg" alt=""></span></span></div>
<div> </div>
<div> </div>
<div>
<span>Moreover, despite a year-on-year decline of </span>more than 20 per cent<span> the downturn has miles to run yet before construction activity even gets close to its historical norm. The value of work commenced points to an accelerating decline.</span>
</div>
<div><span> </span></div>
<div><a href="/images/2015/08/20/eng3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/08/20/eng3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>Moreover, with the Commodity Price Index having continued to weaken, we could easily overshoot to the downside, which terms-of-trade booms in Australia have historically tended to do.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/08/20/Commods1.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/08/20/Commods1.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>Given that the construction stage tends to be comfortably the most labour-intensive phase of resources projects, this must inevitably result in sharply declining demand around many regional areas of Australia.<br><br><strong><span style="text-decoration: underline;">Vacancies rising in resources capitals</span></strong><br><br>On a related note <em>SQM Research</em> released its latest July 2015 Vacancy Rates and asking rents data yesterday.</div>
<div> </div>
<div>Vacancy rates nationally held steady at <strong>2.4 per cent</strong> but the figures revealed a significant divergence between the resources capital cities and the rest.</div>
<div> </div>
<div>As you can see in the chart below, moving from left to right vacancy rates remain relatively tight in Hobart (1.2 per cent), Sydney (1.8 per cent) and Adelaide (1.9 per cent).<br><br>Hobart's vacancy rates have tightened over the past year from 1.5 per cent to 1.2 per cent despite a near total dearth of population growth - if you think carefully about it, you may come to your own conclusions as to why - while Sydney's vacancy rate of 1.8 per cent is unchanged from one year ago.<br><br>Brisbane city-wide vacancy rate is now recorded as being 2.6 per cent, and in fact in a number of apartment construction hubs vacancy rates are already considerably higher than that. </div>
<div> </div>
<div>Shifting across towards the right hand edge of the chart Darwin is now tracking at an elevated 3.5 per cent having spiralled from just 1.4 per cent a year ago.<br><br>Meanwhile vacancy rates in Perth have blown all the way out from 2.5 per cent in July 2014 to 3.8 per cent.</div>
<div> </div>
<div><a href="/images/2015/08/20/SQM.jpg" target="_blank">Click to enlarge</a></div>
</div>
<div><span> </span></div>
<div><span><img src="/images/2015/08/20/SQM.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Asking rents follow vacancies</span></strong><br><br><span>Also reported in the </span><em>SQM</em> media release<span> was a massive 20.5 per cent fall in asking rents for houses in Darwin, as well as 15.2 per cent decline in asking rents for Darwin units.</span><br><br><span>Over the past year asking rents have also declined in Perth for both houses (-7.4 per cent) and units (-6.3 per cent), according to </span><em>SQM</em><span>'s index.</span><br><br><span>Of course, vacancy rates are expected to rise at this stage in the construction cycle, but it may take Perth and Darwin quite some time to absorb the excess stock.</span>
</div>
<div><span> </span></div>
<div><a href="/images/2015/08/20/AW1.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/08/20/AW1.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Mining towns crushed</span></strong><br><br><span>This capital city market action is of course small fry compared to what is playing out in resources regions.</span><br><br><span>Following on in sympathy from an epic property crash in the Pilbara, the </span><em>Australian Financial Review</em><span> </span>reported<span> that investors in the Bowen Basin heartland are being sent broke with dwelling prices continuing to collapse dramatically.</span><br><br><span>Property prices in Moranbah have reportedly crashed by up to 70 per cent over the past three years, while prices in Dysart prices have crashed by closer to 50 per cent over the same period.</span><br><br><span>Instead of linking back to articles which promised untold riches from investing in mining towns, it is worth considering the two golden rules which nearly all of the most successful investors follow religiously:</span><br><br><strong>Rule 1 - Don't lose money.</strong><br><strong><br></strong><strong>Rule 2 - See Rule 1.</strong><br><br><span>When it comes to property investment, there is no easy way back from a 50 per cent drawdown, particularly if leverage is used.</span><br><br><span>Remember that the promise of higher returns often comes with correspondingly higher risks. </span>
</div>
<div><span> </span></div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</body></html>

pwargent-M4siyDbqQY

SQM foreshadows mining downturn: Pete Wargent

<html><body>
<p>EXPERT OBSERVER</p>
<p>Brisbane's once-rampant apartment construction has now righted itself, and indeed median unit prices were up a fraction over the past year in the Queensland capital. </p>
<div id="post-body-1517642067810614857" class="post-body entry-content">
<div>Victoria's apartment construction on the other hand has exploded to a record high (as expected from leading indicators), with the value of work done an astronomical 416 per cent higher than a decade earlier in chain volume measures terms. </div>
<div> </div>
<div>Sydney doesn't build so many houses, so a lot of activity is expected, but for Melbourne this is a boom-and-a-half!</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-j-L_Si8xu3M/W3zV5ZRFWuI/AAAAAAAArog/JQ9WfQ2ltJABfVf3KSePDeXcpAOZ8GZEQCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-j-L_Si8xu3M/W3zV5ZRFWuI/AAAAAAAArog/JQ9WfQ2ltJABfVf3KSePDeXcpAOZ8GZEQCLcBGAs/s640/A1.jpg" width="640" height="376" data-original-height="800" data-original-width="1361"></a></div>
<div>
<br><div class="separator"> </div>
<br>It's an everything boom for Victorian construction with public and engineering works also going on a tear. </div>
<div> </div>
<div>Queensland engineering construction is also finally on the rise again after the state's multi-year downturn. </div>
<br><div class="separator"><a href="https://3.bp.blogspot.com/-hFMjIc58GKQ/W3zV5oAN67I/AAAAAAAArok/mtjusxcoA6AQzd36njWtlrRemzlXTHvYQCLcBGAs/s1600/A2.jpg"><img src="https://3.bp.blogspot.com/-hFMjIc58GKQ/W3zV5oAN67I/AAAAAAAArok/mtjusxcoA6AQzd36njWtlrRemzlXTHvYQCLcBGAs/s640/A2.jpg" width="640" height="374" data-original-height="803" data-original-width="1368"></a></div>
<br><div>Adding in detached housing construction, Victoria's construction super-boom over 16 consecutive quarters and counting helped to increase total work done nationally in the second quarter by 1.6 per cent in seasonally adjusted terms. </div>
<div> </div>
<div>Eight consecutive quarterly increases in South Australia have also helped to offset the resources and housing construction weakness in Western Australia.<br><br>Construction work in New South Wales is set to top out now as apartment starts decline. </div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-bkIHZFhTWcQ/W3zV5bE5mEI/AAAAAAAAroo/spw4riVZh3gpMf1FKh89PGOaA16E0CoqACLcBGAs/s1600/A3.jpg"><img src="https://4.bp.blogspot.com/-bkIHZFhTWcQ/W3zV5bE5mEI/AAAAAAAAroo/spw4riVZh3gpMf1FKh89PGOaA16E0CoqACLcBGAs/s640/A3.jpg" width="640" height="376" data-original-height="806" data-original-width="1371"></a></div>
<br><div><strong>Job ads stalling</strong></div>
<div> </div>
<div>In other news skilled job vacancies were up by 4.7 per cent from a year earlier to be 30.5 per cent above the October 2013 nadir in July 2018, according to the latest Department of Employment figures. </div>
<div> </div>
<div>The seasonally adjusted monthly result was up just a notch following three consecutive declines. </div>
<div> </div>
<div>Unsurprisingly Victoria scored well here too, with falling unemployment looking like a shoo-in for Melbourne. </div>
<br><div class="separator"><a href="https://3.bp.blogspot.com/-oDN5Lkggpdk/W3zV6M2hRaI/AAAAAAAAros/hdUwylmO0ccmBenJN0Gi8BlEILu59fHKQCLcBGAs/s1600/DoE.jpg"><img src="https://3.bp.blogspot.com/-oDN5Lkggpdk/W3zV6M2hRaI/AAAAAAAAros/hdUwylmO0ccmBenJN0Gi8BlEILu59fHKQCLcBGAs/s640/DoE.jpg" width="640" height="368" data-original-height="793" data-original-width="1374"></a></div>
<br><div>In Western Australia vacancies were up 16.3 per cent over the past year, pointing to brighter days ahead across the Nullarbor.<br><br>Nationally, though, the growth in job ads seems to have stalled, with an election to follow - and that rarely inspires confidence in employers.</div>
<div><em> </em></div>
<div><em>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></div>
</div>
</body></html>

Victoria's everything boom: Pete Wargent

<html><body>
<p>EXPERT OBSERVER</p>
<p>Fewer homes will be built over the coming year, and that is to be expected following the frenetic pace of building over 2014-2018.</p>
<p>But there will be no shortage of work for the broader building and construction sectors.</p>
<p>Over $140 billion of work is yet to be done.</p>
<p>Commercial building work to be completed is at record highs with engineering work near 4-year highs. And that doesn’t include the raft of new infrastructure planned by state and territory governments.</p>
<p>Rebuilding after the horrific bushfires will add to the work total as well in coming years.</p>
<p>While off the absolute peak levels in 2012 – a total driven by mining activity – work yet to be done on building and construction projects is up almost 4 per cent over the year and near the highest levels in 4½ years.</p>
<p>There is a perception that the economy is listing. But building and construction remains a bevy of activity and there is plenty of work to support building material providers, builders, tradespeople and professional services like architects. Outside the resources sector, a record amount of engineering work remains to be done.</p>
<p><strong>What do the figures show?</strong></p>
<p>The number of dwelling starts fell by 11.7 per cent in the September quarter after rising 1.5 per cent in the June quarter.</p>
<p>House starts fell by 4.8 per cent in the September quarter after a 9.4 per cent fall in the June quarter. Apartment starts fell by 21.9 per cent in the September quarter after a 20.3 per cent increase in the June quarter.</p>
<p>Work started on 180,972 new dwellings over the 12 months to September, down by 21.5 per cent on the year. Starts fell from the record high of 234,186 dwellings in the year to December 2016.</p>
<p>Across Australia, starts in the September quarter fell in six states/territories: NSW (down by 19.5 per cent); Victoria (down by 9.7 per cent); Queensland (up by 3.0 per cent); South Australia (up by 1.9 per cent); Western Australia (down by 14.8 per cent); Tasmania (down by 4.6 per cent); Northern Territory (down by 18.5 per cent); and the ACT (down by 3.1 per cent).</p>
<p>In the year to September, dwelling starts were higher than the decade average in only two of the states and territories: NSW (up 7.6 per cent) and Tasmania (up 17.0 per cent). Starts were below the decade average in: Victoria (down 0.2 per cent); Queensland (down 13.6 per cent); South Australia (down by 9.1 per cent); Western Australia (down by 35.4 per cent); Northern Territory (down 60.9 per cent); the ACT (down 7.6 per cent); and total Australia (down 5.9 per cent).</p>
<p>In the September quarter residential and commercial building work done fell by 0.5 per cent. New residential work fell 3.4 per cent with alterations &amp; additions down 0.3 per cent but commercial building rose by 3.8 per cent and engineering work rose by 0.5 per cent.</p>
<p>The value of residential and commercial building work in the pipeline stood at $89.6 billion at the end of September, down by 7.1 per cent on a year ago and below the record-high of $99.2 billion at the end of June 2018.</p>
<p>Across Australia, 201,317 homes are currently being built, down from a record 231,416 homes in March 2018.</p>
<p>In the September quarter residential and commercial building work yet to be done (completed), stood at $69.8 billion, down 7.9 per cent on a year ago. Engineering work to be done stood at $74.1 billion, up 18.1 per cent on a year ago. Total building and construction work to be done stood at $144 billion at the end of September, just off 4½-year highs but up 3.9 per cent on the year.</p>
<p><strong>What are the implications for interest rates and investors?</strong></p>
<p>Building and construction sectors face mixed prospects. Work to be done on commercial projects stands at record highs. Engineering work is near 5-year highs but dwelling construction is easing from unsustainable highs.</p>
<p>When the word ‘decline’ or ‘fall’ is used, the perception is negative. But always the base needs to be considered as well as history. While some construction work levels have eased, in many sectors the decline is from super-normal or unsustainable levels. In NSW at the peak more than 70,000 apartments were being built. Prior to the last five years, a number of 25,000 apartments being built was considered a high level of building.</p>
<p>The healthy levels of construction work to be done provides further complications for the Reserve Bank in its thinking about rates at the February 2020 Board meeting. The next two key events are the December job figures on January 23 and the Consumer Price Index (inflation) on January 29.</p>
<p><strong>CRAIG JAMES </strong><em>is the Chief Economist at CommSec</em></p>
</body></html>

cjames-5S2v74qSNK

Record commercial building work to be done: CommSec's Craig James

<html><body>
<p>Australia-wide residential construction activity fell in FY 2019 but is expected to recover through to 2022, according to a recent report released by WT Partnership Australia.</p>
<p>The report found that the current decline is more of a ‘trough’ and is expected to last the next two years, then stabilise through the end of a relatively ‘mild cycle’ over the seven years to 2026; activity is then expected to rise through to 2030.</p>
<p>Whilst the residential slow down comes off the back of all-time highs in the eastern states, demand for new housing will still be driven by continuing high population growth in Sydney, Melbourne and Southern QLD, despite cuts to immigration.</p>
<p>Construction and engineering will be driven by $100 billion of infrastructure investment announced by the Federal Government. This will be focused on “shovel ready” projects with relatively short completion windows. </p>
<p><strong>Challenges for the year</strong></p>
<p>1. The cladding issues has had a major impact on the selling and buying of apartments</p>
<p>2. There is more red tape and further policy measures that will decrease immigration leading to lower growth in demand for dwellings</p>
<p>3. The recent interest rate cuts have seen housing prices slightly strengthen</p>
<p>4. Building approvals for new apartments has dramatically dropped</p>
<p>5. Federal Government has flagged a ten-year $100 billion investment in transport infrastructure across Australia. While this is positive, it is absolutely vital that these infrastructure projects do not blow due to the growing population needing more transport options.</p>
<p>6. Biggest focus in terms of value is in bridges, railways and harbours, followed by electricity and pipelines</p>
</body></html>

Construction Activity

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Construction Activity

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News