Plans for a $341 million mixed-use precinct, including 482 new homes, have been filed for a former drive-in cinema site in Caddens, a new masterplanned residential neighbourhood around two hours west of Sydney.

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> for developer <a href="https://www.apartments.com.au/developers/holdmark-property-group">Holdmark Property Group</a>, the State Significant Development Application (SSDA) comprises 17 mid-rise buildings delivering apartments and shoptop housing, 3461 sqm of retail, new streets and community space, and an expanded public domain.

The 8.1-hectare site adjoins the existing Caddens Corner Shopping Centre and is organised around a new civic hub and ‘Six Seasons Walk’, linking a network of local and community parks that extend the existing Cumberland Plain ecology along the site’s northern edge. &nbsp;

The site, once home to Kingswood Drive-In, is located within walking distance of Western Sydney University’s expanding Kingswood campus and the Nepean Hospital health precinct, 50 kilometres west of the Sydney CBD.

Holdmark Planning and Development Manager Eliyah El-Khoury says the revised scheme features a varied housing mix of apartments and terrace typology, reflecting both local demand and the long-term vision for the Werrington Enterprise Living and Learning (WELL) Precinct.&nbsp;

“By offering a diversity of apartment types – including 15 percent essential worker housing – and integrating new parks and a strong civic centre, we’re vesting a welcoming, walkable neighbourhood that supports residents to live and study in Caddens, bringing to life this hidden gem, just 5km from Penrith CBD and a short 15-minute drive from the new Western Sydney Aerotropolis precinct,” El-Khoury says.

The development also aligns with Western Sydney’s ‘Western Growth’ strategy, which positions Caddens as “a model for sustainable urban development” linked to major transport infrastructure and tertiary institutions.

<img alt="60–80 O’Connell Street, Caddens" data-entity-type="file" data-entity-uuid="86aa6f25-53d2-4135-8247-bf3a2653748f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/s68-80%20O%27Connel%20St%20Caddens_Forest%20Park%20and%20Karra%20Commons%20buildings%20-%20GroupGSA_2.jpeg?VersionId=deSc.hrokqF1PNgz39yOwSRd6S8JN1Is" />

&nbsp;

A series of Indigenous co-design workshops with local Aboriginal stakeholders shaped the cultural framework for the precinct. The design embraces water, sky and Country as key connectors, restoring natural ecologies, expanding habitat and integrating endemic plantings, organic built forms, natural materials and water-sensitive landscapes.&nbsp;

GroupGSA architect and project lead Alberto Murgia says the masterplan is structured around a permeable, walkable street grid that expands the existing retail precinct and strengthens local amenity.

“Our landscape-first, Country-led approach focuses on a mix of high-quality and affordable homes, delivered within a generous public realm that builds on the precinct’s evolving character,” he says.

“Preservation, restoration and celebration of the Cumberland Plain Woodland ecologies and creating ample opportunities for the community to engage with nature were key focuses for the project."

A cultural trail to the north weaves oral histories and site narratives into everyday paths of travel, while the Six Seasons Walk forms a central pedestrian spine linking the Village Green to the nature reserve on the precinct’s eastern edge.

Public open space is structured around three major parks – the Village Green, Local Park and Community Park – supported by a network of shared zones, rooftop terraces and private communal courtyards. The landscape strategy extends and strengthens the adjoining Cumberland Plain Woodland, creating a continuous ecological corridor across the site. Increased canopy cover supports the unique micro-climate, enhances shade and comfort, and supports biodiversity and habitat creation.

<img alt="60–80 O’Connell Street, Caddens" data-entity-type="file" data-entity-uuid="7d00abb5-ef1d-4e61-8d43-5f9c4bf680e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/s68-80%20O%27Connel%20St%20Caddens_Village%20QuarterGroupGSA_1.jpeg?VersionId=f_d1IYvxEshSCSwMLBKhiJka_OXNTlrZ" />

&nbsp;

The built form responds to the changing edge conditions of the site, with two-storey terraces presenting to O’Connell Street South and modulated apartment buildings stepping in height across the precinct in response to site topography. The material palette for the ‘Karra Commons’ buildings to the north-east of the site draws on the colours and textures of the Cumberland Plain Woodland through brickwork, metal cladding, screening and layered planting to create an architectural expression intended to “recede into the landscape”.

The terraces on the southern boundary adopt a finely scaled architectural language of articulated brickwork, deep reveals and expressed thresholds, balancing robustness with domesticity.

Meanwhile, Village Quarter, where density is intentionally located adjacent to amenity, becomes the mixed-use urban heart that frames the Village Green with active frontages. Materiality responds to the adjacent retail centre, with stepped built forms defining planted edges and supporting a vibrant, welcoming public realm.

&nbsp;

“Our proposal delivers a village-scale centre that supports social interaction and community identity while demonstrating a long-term vision for sustainable growth within the WELL Precinct,” Murgia added.

“By pairing mixed-tenure housing with flexible communal indoor and outdoor spaces, the precinct is designed to foster social diversity, wellbeing and a strong sense of community ownership.”

Joel Robinson

Holdmark seeks 17-building mixed-use precinct at former Caddens drive-in site

Dubai-based developer Arada is preparing to officially enter the Sydney apartment market, starting in Castle Hill.

Arada, who signalled its intent by announcing a development pipeline of $4 billion and then saving, and acquiring, tier-one commercial construction company, has filed a State Significant Development Application for a three-building development in the Hills Showground Station Precinct.

The buildings, which will be delivered on a 1.1-hectare site fronting Fishburn Crescent, Carrington Road and Middleton Avenue, will have 431 apartments. They have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/turner-studio">Turner Studio</a> with landscaping by <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>.&nbsp;

The buildings have been arranged around podium courtyards and open communal spaces, with Building A rising to 20 storeys, Building B stepping between 8 and 17, and Building C forming a U-shaped massing of 11 to 12 storeys.

&nbsp;

According to the Design Report by Turner Studio, the development will deliver a "highly liveable, connected, and inclusive residential community,” incorporating rooftop terraces, shared indoor amenities, and pedestrian links through the site.&nbsp;

<img alt="Arada" data-entity-type="file" data-entity-uuid="f00c8c47-8c25-4039-9d42-c4261906e286" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-15%20at%208.07.18%E2%80%AFPM.png?VersionId=SRRxwfZcxygQuYxRn_AsHoh00vJ2_PMj" />

The project includes 25 affordable housing units, representing five per cent of total floor space, located within Building A. These comprise a mix of one and two-bedroom layouts.

The broader residential mix across the three towers includes one-bedroom (nine per cent), two-bedroom (57 per cent), three-bedroom (30 per cent), and four-bedroom (four per cent) apartments, with a strong emphasis on family-sized homes.

The landscape strategy, guided by Arcadia, integrates rooftop gardens, public open space, and a pedestrian connection between Fishburn Crescent and Sexton Avenue.&nbsp;

The design draws from the natural and cultural history of the site, including features of nearby Cattai Creek, and incorporates endemic planting and local materials.

<img alt="Arada" data-entity-type="file" data-entity-uuid="c29a2ff1-3b45-4f51-851f-83b4b98148aa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-15%20at%208.07.26%E2%80%AFPM.png?VersionId=8G9S8LrCc8H.JtPWdzr9q0HAijLRXAk7" />

&nbsp;

Arada’s submission under the Housing Delivery Authority pathway highlights the project’s alignment with Transport-Oriented Development principles, capitalising on the site’s 400-metre proximity to Hills Showground Metro Station.

Founded in 2017 in Sharjah, Arada has delivered over 10,000 homes internationally and is now advancing a $4 billion pipeline in Australia. The Castle Hill project is one of several Sydney ventures by the developer, with other sites progressing in Campsie and Canterbury. Arada opened its Sydney office in August 2024 and acquired local construction firm Roberts Co to scale up delivery capabilities.

The site sits within the Showground Priority Precinct, a transport-oriented growth area targeted for 9,000 new homes. The broader neighbourhood is already seeing transformation, with Deicorp’s <a href="https://www.apartments.com.au/new-apartments/showground-pavilions-castle-hill-3-andalusian-way-castle-hill-nsw-2154">Showground Pavilions</a> and <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Hills Showground Village</a> introducing over 1,300 apartments alongside retail, open space, and transport upgrades.

Arada aims to launch the project to the market next year, and commence construction by mid-2027.

Arada pitches Castle Hill apartment plans ahead of 2026 launch

Well advanced in construction of its current East Brisbane tower <a href="https://www.apartments.com.au/new-apartments/murcia-residences-east-brisbane-9-overend-street-east-brisbane-qld-4169">Murcia Residences</a>, developer Sarazin has filed plans for its next project in the booming inner-Brisbane area.

<a href="https://www.apartments.com.au/developers/sarazin">Sarazin</a>&nbsp;has sought approval from Economic Development Queensland for <a href="https://www.apartments.com.au/new-apartments/stanley-quarter-825-stanley-street-woolloongabba-qld-4102">Stanley Quarter</a>, a major two-tower mixed-use project that promises to reshape a key site between Stanley and Trafalgar Streets in Woolloongabba, next door to the iconic stadium.

Occupying a 4,332 sqm site within the Woolloongabba Priority Development Area, Stanley Quarter would comprise two slender towers, 53 and 36 storeys, rising above a shared six-level podium. The project marks the next phase in Sarazin’s transformation of the area following the adjacent Silk One development.

The towers will deliver 447 apartments, split across the two stages: 235 dwellings in the West Tower (36 levels) and 212 in the East Tower (53 levels). A rooftop recreation deck will crown each building. The East Tower, reaching approximately 190 metres, would become one of Brisbane’s tallest buildings outside the CBD, standing just shy of the 195-metre One One One Eagle Street.

<img alt="Sarazin" data-entity-type="file" data-entity-uuid="15ef9c22-b5eb-40d6-9311-22c340592b61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-15%20at%207.46.29%E2%80%AFPM.png?VersionId=LkFTu3S5sA0.b0j_k5QkdYaGqA2woe85" />

<a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a>’s architectural design integrates subtropical principles, including vertical fins, glass detailing, and extensive greenery. According to the Urban Design Report, the podium will support “active frontages and human-scale interfaces” and house retail, dining, and commercial spaces at ground level, while upper levels contain residential amenities and parking.

A highlight of the proposal is the 1,160 sqm public plaza linking Stanley and Trafalgar Streets. Designed as a landscaped urban courtyard with dining edges and shaded canopies, it offers a direct pedestrian connection through the site. Landscape design is by Wild Studio.

<img alt="Sarazin" data-entity-type="file" data-entity-uuid="e58bcf89-6a87-4a9b-8421-b3325ef74d16" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-15%20at%207.51.19%E2%80%AFPM.png?VersionId=jWcgn4k0fyWKEX0XFOjg3F4sc3Zh9bIb" />

Also planned is a landmark cultural facility, the STEAMM Gallery and Garden, anchored to the East Tower podium. As outlined in the planning documents, this multi-storey facility will include exhibition and studio spaces, with the report stating it represents “a genuine community benefit and cultural anchor for the precinct”.

The basement and podium levels will accommodate 614 car spaces and 483 bicycle spaces across residential, visitor, and commercial use. Vehicle access is proposed via Trafalgar Street, with a flood-resilient basement design and discrete servicing zones.

Positioned close to The Gabba Stadium and the new Cross River Rail station, Stanley Quarter is framed as a catalyst project for Woolloongabba’s ongoing urban regeneration. It supports EDQ’s ambition to create a “walkable, transit-oriented and subtropical mixed-use centre”.

If approved, the project will be delivered in two stages, with the West Tower proceeding first.

Sarazin is currently delivering Murcia Residences, on the fringe of Woolloongabba in East Brisbane.&nbsp;

Sarazin unveils twin-tower Stanley Quarter in Woolloongabba

Sydney may hold the dubious honour of being the world’s second most expensive housing market, outpriced only by perennial leader Hong Kong, but its appetite for prestige property shows no sign of slowing. At the heart of it all sits Sydney Harbour, where waterfront apartments command eye-watering prices that show few signs of slowing.

According to Westpac’s August Prestige Market Overview, the city’s luxury sector continues to outperform expectations, with top-end values rising 6.2 per cent across 2024. Over the past decade, prices for Australia’s most exclusive apartments have surged more than 40 per cent, while available listings remain nearly 20 per cent below pre-pandemic levels, data from Cotality reveals.

Much of Sydney’s recent luxury boom has centred on Circular Quay and Barangaroo, two glittering precincts now home to some of the country’s most expensive real estate. Yet one of the city’s most iconic waterfronts has, until now, remained surprisingly underdeveloped: Darling Harbour.

Long known as a playground for tourists and locals, Darling Harbour has never truly offered the chance to live there, until now. Recognising the untapped potential of this prime harbourfront, development powerhouse Mirvac has taken the lead in reimagining the precinct. The company is at the centre of a wider $15 billion revitalisation that will elevate Darling Harbour’s prestige to rival its glamorous neighbours.

At the heart of the transformation is Harbourside Residences, a $2 billion glass tower rising from the redeveloped Harbourside Shopping Centre. The project brings together an international design collaboration between Norwegian architecture firm Snøhetta and Australian practice Hassell, with interiors by Bates Smart. The tower will house 260 residences, with the yet-to-be-released penthouse collection, six sub-penthouses and three full-floor penthouses, expected to rank among Australia’s most exclusive homes.

[smartcode_project:default project_id=141327 project_image_fid=352378]

Buyers have already responded in force. The project’s first apartment release late last year became the most successful launch in Mirvac’s 54-year history, recording more than $700 million in sales in just one weekend, with more than $800m total pre-sales to date. Prices ranged from $1.7 million to $25 million, with more than 40 per cent of purchasers being repeat Mirvac buyers, a testament to the developer’s reputation for quality and delivery.

Mirvac has now unveiled the tower’s most coveted homes: a collection of three- and four-bedroom residences positioned across the upper levels of the 48-storey building. From this vantage point on the western edge of Sydney Harbour, residents will enjoy a striking and rarely seen perspective of both the city skyline and the water.

[smartcode_project:default project_id=141327 project_image_fid=352369]

Inside, luxury extends far beyond the apartments themselves. Harbourside Residences will feature wellness amenities on par with a five-star resort, including a traditional sauna, steam room, ice bath, indoor lap pool, gymnasium, and yoga and pilates studio. Private leisure spaces cater to the growing desire for exclusive community living, with a residents’ lounge, private dining rooms with commercial and show kitchens, a cinema room, and even a golf simulator.

Outdoors, the experience is just as impressive. Landscaped garden terraces frame a lagoon-style pool that looks directly across the harbour, offering some of the most intimate city views anywhere in Sydney.

[smartcode_project:default project_id=141327 project_image_fid=352372]

Construction of Harbourside Residences is well underway. Mirvac, which designs, builds, and delivers its own projects, a model that reduces risk and ensures consistency, expects completion in late 2027. When finished, it will not only redefine Darling Harbour living but reshape Sydney’s skyline once again.

[smartcode_project_cta:default project_id=141327]

Sydney’s next great waterfront: Darling Harbour steps into the spotlight

Boutique development and construction firm <a href="https://www.apartments.com.au/developers/hsn-property-group">HSN Property Group</a> is the latest to seek a new apartment development through the NSW Government's&nbsp;Housing Delivery Authority.

They've filed a State Significant Development Application for a nine-storey building across nine consolidated lots on <a href="https://www.apartments.com.au/new-apartments/2-16-spencer-street-rose-bay-nsw-2029">Rose Bay's Spencer Street</a>, just 400m from the centre of the affluent suburb.

“The site’s location and context make it well suited to support a more diverse and sustainable residential offering in the area,” the developer stated in community consultation materials.

The plans are for 54 apartments, 14 of which will be dedicated to affordable housing. There will be a mix of two- and three-bedroom apartments.

The proposal aims to contribute to housing diversity in the Woollahra Local Government Area while taking advantage of recent Low and Mid-Rise Housing Reforms introduced under the NSW Housing SEPP, according to the Scoping Report prepared by Urbis.

The architecture, led by <a href="https://www.apartments.com.au/architects/mhn-design-union">MHNDU</a>, reflects a "contemporary design approach sensitive to the character of Rose Bay." Communal amenities will include a wellness area with a pool and sauna, a gym, a wine lounge, and landscaped spaces with barbecue facilities.&nbsp;

“The proposed development will offer a suite of premium communal amenities designed to enhance resident wellbeing, foster social connection, and promote a healthy lifestyle,” the project team notes in its public materials.

Three levels of basement parking are planned, and EV charging facilities will be included, aligning with sustainability and transport objectives. A comprehensive traffic study is underway to assess and manage local impacts.

With 54 apartments, the proposal by HSN will be one of the largest developments in Rose Bay for decades. It tops the 50 apartments soon to launch by Orosi on <a href="https://www.apartments.com.au/new-apartments/the-avenue-rose-bay-1-the-avenue-nsw-2029">The Avenue</a>, near the Royal Sydney Golf Club.&nbsp;

First look: HSN plans Spencer St, Rose Bay apartment project

Credit Cards

<html><body>
A result that will surprise a few observers, with the Commonwealth Bank of Australia reported unaudited cash earnings of around $2.65 billion for the quarter, up by +6% on improved margins. 
There were seasonal declines in personal loans and credit card arrears.
An interesting point of note was that 90-plus day home loan arrears were tracking at 0.59%, marginally lower from the preceding quarter. 
CBA noted that 90-plus day home loan arrears have declined slightly over the past few years to 0.48% when the state of Western Australia is excluded.
<img src="https://4.bp.blogspot.com/-cfk8FlVcMbY/WgNFN4xiRpI/AAAAAAAAm7A/fnLLJO2PFkcnuw_PLTaZYnimSeBQ2fzJgCLcBGAs/s640/CBA.jpg" width="640" height="346" data-original-height="550" data-original-width="1012">
 
</body></html>

pwargent-M4siyDbqQY

Home loan arrears tracking lower at CommBank: Pete Wargent

<html><body>
<h4>National Australia Bank is the latest lender to announce changes to help Australians impacted by COVID-19, dropping its Low Rate Classic Card by 100 basis points to 12.99%.</h4>
It also announced other support measures including waiving late payment fees and reducing the minimum monthly payments on all cards for the next three months.
NAB joins at least six other lenders that have announced support to credit card customers including the Commonwealth Bank. Westpac and ANZ have not announced specific measures for credit card customers.
Despite some lenders announcing credit card support, credit card holders are still the hardest hit as lenders hold onto rate cuts.
Since the GFC in 2008, the cash rate has fallen by 6.5 percentage points to 0.25%, while standard credit cards have increased by 1.37 percentage points on average, and low rate cards have increased by 1.22 percentage points (according to RBA data analysed by Finder).
While the cash rate has been falling since 2011, standard credit cards have increased on average by 0.25 percentage points, and low rate cards fell by just 0.26 percentage points. This is compared to the cash rate falling by 4.50 percentage points since November 2011.
<img src="https://www.urban.com.au/images/2020/4/6/Finder%201.png" alt="">
Bessie Hassan, Money Expert at Finder said, “While it’s great to see more help by our big banks and other lenders, it’s only a short term fix for a major debt issue in Australia."
“We currently have a combined $48.7 billion in credit card debt and this number is expected to rise as millions of Australians are being financially impacted by the coronavirus."
“The Finder app shows that Australians are spending more money using their credit cards while paying less of the balance off. This is a worrying trend. Short term relief is a great start but cardholders need to remember that it’s not free money and they will need to pay it back eventually."
“With insights from the Finder app also showing Australians have spent an extra $13.5 billion in March alone from panic-buying, now more than ever we need to control our spending."
<img src="https://www.urban.com.au/images/2020/4/6/Finder%202.png" alt="">
“If you do have credit card debt that you’re struggling to pay off, interest-free balance transfers could still be a better value option than relying on your lender’s relief package. Download the Finder app and it will work out how much you can potentially save with a balance transfer," Hassan concluded.
</body></html>

j.ballantyne1990-6AQqhLzZaK

NAB the last of the big four to announce credit card support: Finder.com.au

<html><body>
GUEST OBSERVER 
Credit &amp; debit card payments have overtaken cash as the most common way that purchases/transactions are made by Aussie consumers.  
Second jobs: In 2015/16 just over 763,000 people had secondary jobs. Administrative and support services accounted for 130,200 (17.1 per cent) secondary jobs, followed by Health care and social assistance with 114,300 (15.0 per cent) secondary jobs.  The Reserve Bank survey provides insights into consumer purchase activity. The Australian Bureau of Statistics provides detailed job market data that enable fresh insights into working hours and pay.  
What does it all mean?
Aussie consumers are relying more and more on credit &amp; debit cards and other payment methods like BPay to make their transactions. Today 52 per cent of all transactions are made with cards with cash accounting for 37 per cent of transactions. Three years ago cash led by 47 per cent to 43 per cent of payments. Cash now only leads card payments for transactions of less than $10.  
While Aussies like using cards for payments only around 10 per cent of respondents said they were interested in making payments with mobile devices like phones.  
The Consumer Payments Survey provides valuable information for businesses about why certain payment methods are preferred as well as trends in use.  
Growth in secondary jobs has surpassed the growth in main jobs for the past three years. The hard part is working out whether it is by choice or necessity. But the number with second jobs is broadly equal to the number of unemployed.  
The average worker received $61,029 in pay in 2015/16 but businesses paid $71,639 for every worker once costs like training, payroll tax and recruitment costs are factored in.  
What do the figures show?  Reserve Bank Payments survey
“The Reserve Bank's triennial Consumer Payments Survey (CPS) provides a detailed snapshot of how Australian consumers make payments. The 2016 CPS recorded information on around 17,000 day-to-day payments made by over 1,500 participants during a week. The data show that Australian consumers continued to switch from paper-based ways of making payments such as cash and cheques, towards digital payment methods (particularly debit and credit cards). Cards were the most frequently used means of payment in the 2016 survey, overtaking cash for the first time.”  
Included in the findings:
Around 27 per cent of all payments were made at food retailers followed by supermarket/bottle shop (26 per cent); goods retailers (18 per cent); medical/health, other (9 per cent); petrol stations (6 per cent); household bills (6 per cent)  
Around 64 per cent of the number of card payments were made by tap/wave over the card readers (47 per cent of the value)  
On average people take out money from an ATM less than once a fortnight (0.4 times a week)  
On average people have around $101 in their wallets (median value $40)  
Cash (37 per cent of all payments) still leads debit cards (30 per cent) and credit cards (22 per cent) 46 per cent of those aged 18-29 use debit cards whereas 51 per cent of those 65+ use cash for payments 86 per cent of all payments made in person with 11 per cent using PC/tablet 62 per cent of purchases (payments) less than $10 were made with cash
ABS Labour Account 2015/16
In 2015/16, total labour income increased by 3.8 per cent to $895.2 billion. This was driven by total compensation of employees, which increased by 3.1 per cent to $807.1 billion, while labour income from self-employment increased by 10.8 per cent to $88.1 billion.
The total number of hours actually worked increased 2.0 per cent to 20.2 billion hours. Hours sought but not worked, made up of hours sought by unemployed and additional hours sought by underemployed, decreased by 2.3 per cent to 1.9 billion hours.
The total number of employed persons increased by 2.6 per cent to 12.5 million. There were 730,600 unemployed persons in 2015/16, a decrease of 23,200 persons (3.1 per cent). At the same time, there were 1.1 million underemployed persons, an increase of 39,600 persons (3.8 per cent).
The total number of jobs in the Australian economy increased by 358,600 (or 2.8 per cent), made up of 16,700 job vacancies and 341,900 filled jobs. Job vacancies increased by 11.0 per cent from 152,800 to 169,500, while filled jobs increased by 2.7 per cent from 12.9 million to 13.2 million.
The number of main jobs grew by 2.6 per cent from 12.1 million in 2014/15 to 12.5 million in 2015/16. Over the same period, secondary jobs grew by 3.7 per cent from 735,900 in 2014/15 to 763,200 in 2015/16.
What is the importance of the economic data?
<a href="https://www.propertyobserver.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%2010.36.18%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%2010.36.18%20AM.png" alt="">
The Reserve Bank surveys consumer payments every three years. The data is valuable for businesses as well  as policymakers.  
The Australian Bureau of Statistics (ABS) have compiled an experimental Labour Account that is designed to better assess trends in the economy and assist with calculations of economic growth and productivity.  What are the implications for interest rates and investors?  
Following the purchases made with cards may prove a better way of tracking spending across the economy.  
A raft of extra costs like payroll tax is hindering the ability of businesses to take on more staff.  
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
</body></html>

cjames-5S2v74qSNK

Cards overtake cash for the first time: Craig James

<html><body>
GUEST OBSERVER
Cash is no longer king. Well, certainly the physical version of cash is out of favour with Aussie consumers with more using cards for all variety of transactions.
The number of withdrawals from ATMs has hit a 15-year low while cash-out transactions with debit cards are falling at the fastest annual rate on record. Use of both credit and debit cards is soaring with more people using the cards for small purchases.
Aussie consumers aren’t short of funds on their credit cards. But only a third of credit card limits are being used on average and around 60 per cent of people pay off their credit card debt each month.
Credit cards are also being used more often – in fact smoothed transactions per account each month are at 13-year highs. No doubt the versatility of ‘tap and go’ has caused people to use cards more often for smaller transactions but credit card debt is still falling compared with a year ago at a time when wages are up near 2 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/14/Screen%20Shot%202017-03-14%20at%208.24.25%20AM.png" target="_blank" style="font-size: 12.16px;">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/14/Screen%20Shot%202017-03-14%20at%208.24.25%20AM.png" alt="">
In southern and eastern capital cities the petrol discounting cycle has lengthened. It now takes around a month for pump prices to ease from the cycle highs to the low point in the cycle. So motorists have fewer opportunities to fill up at the lows. Given that the gross retail margin is now averaging around 13 cents a litre, up from 10 cents a litre five years ago, it is even more important for motorists to shop around for the best prices. Adelaide motorists are getting the best deals at present with pump prices near $1.14 a litre.
What do the figures show?
Petrol prices
Due to a holiday in Canberra, the Australian Institute of Petroleum will release the weekly retail price report on Tuesday. The national average petrol price has eased 6.5 cents from recent highs.
The national average wholesale (terminal gate) unleaded petrol price stands at 114.7 cents a litre, down by 1.0 cent a litre over the week.The wholesale price has fallen 4.6 cents a litre from recent highs. The terminal gate diesel price stands at 114.9 cents a litre, down by 0.5 cents a litre over the previous week.
Last week the key Singapore gasoline price fell by US65 cents or 1.0 percent to a 3-month low of US$64.20 a barrel. In Australian dollar terms the Singapore gasoline price fell by 41 cents a barrel or 0.5 percent to a 3-month low of $85.35 a barrel or 53.7 cents a litre.
MotorMouth records the following retail prices for capital cities today: Sydney 121.2c; Melbourne 137.4c; Brisbane 120.1c; Adelaide 114.1c; Perth 122.1c; Canberra 138.3c; Darwin 138.5c; Hobart 141.6c.
Credit &amp; debit card lending:
The average credit card balance recorded a seasonal decline of $84.00 to $3,083.30 in January. Compared with a year ago, the average credit card balance was down by 0.4 percent. In smoothed terms (12 month average) the average balance was down by 1.3 percent.
Of credit cards attracting interest charges, the average outstanding balance rose by $54.80 in January to a 7-month high of $1,968.70. The average balance accruing interest was down by 2.1 per cent on a year ago. In smoothed terms (12 month average) the average balance was down by 0.2 per cent on a year ago.
The average credit card limit recorded a rise of $14.00 to $9,056.30 in January to be down 0.2 per cent over the year. Usage of credit card limits eased from 35 per cent to 34 per cent and therefore just above the lowest usage for over 14 years (33.9 per cent in October 2016).
On average, there were 13.2 transactions made per each credit card account in January, up from 11.3 transactions of a year ago. The average value of purchases was $126.93 with the rolling annual average of purchases falling to a 13-year low of $120.42 in January. Cash-out only transactions by debit cards were 9.1 per cent lower than a year ago – the biggest decline on record.
The number of ATM withdrawals in January was down by 7.7 per cent on a year ago to a 15-year low with the value down by 3.9 per cent. Transactions at own ATMs were down by 10.4 per cent on a year ago.
There were 15.3 debit card purchases per account in January, up from 11.8 transactions a year ago. Average purchase size was $49.97 with the annual average down from $51.37 to a record low of $51.20.
The number of debit cards stood at 44.55 million in January, down 0.3 per cent and the first monthly decline in 29 months. But accounts were up 6.6 per cent on a year ago. Credit card accounts stood at 16.7 million, up 1.6 per cent over the year – the slowest growth in two years.
<a href="https://www.propertyobserver.com.au/images/2017/03/14/Screen%20Shot%202017-03-14%20at%208.25.49%20AM.png" target="_blank" style="font-size: 12.16px;">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/14/Screen%20Shot%202017-03-14%20at%208.25.49%20AM.png" alt="">
What is the importance of the economic data?
Weekly figures on petrol prices are compiled by ORIMA Research on behalf of the Australian Institute of Petroleum (AIP). National average retail prices are calculated as the weighted average of each State/Territory's metropolitan and non-metropolitan retail petrol prices, with the weights based on the number of registered petrol vehicles in each of these regions. AIP data for retail petrol prices is based on available market data supplied by MotorMouth.
The Reserve Bank releases data on credit and debit card transactions each month. The credit card figures are useful in highlighting consumer borrowing and spending trends.
What are the implications for interest rates and investors?
The petrol price is going in the right direction for motorists, and in turn, retailers. World crude prices are near 3-month lows and the extra dollars saved at the petrol pump may serve to boost revenues of discretionary retailers.
The challenge for financial institutions is how to efficiently configure bricks-and-mortar branches. Retail customers can do most transactions digitally or remotely. And customers even aren’t coming in to branches to get cash, instead making transactions with cards more often.
CommSec expects no change to interest rates in the foreseeable future.
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx">CommSec</a>.
</body></html>

Credit Cards

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Credit Cards

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.