<p>Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.</p>

<p>The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.</p>

<p>The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.</p>

<p>The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.</p>

<p><img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" /></p>

<p>BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.</p>

<p>At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.</p>

<p>The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.</p>

<p><img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="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/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" /></p>

<p>The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
<p data-end="436" data-is-last-node="" data-is-only-node="" data-start="244">Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.</p>
</section>

<p>[smartcode_project_cta:default project_id=150260]</p>


Joel Robinson

Big Projects secures approval for Glenelg Residences in Mermaid Beach

<p>Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.</p>

<p>The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.</p>

<p>They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.</p>

<p>Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.</p>

<p>The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.</p>

<p><img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" /></p>

<p>“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible<br />
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa<br />
Group.</p>

<p>“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we<br />
created the Flourish collection.</p>

<p>“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”</p>

<p>A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.</p>

<p><img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" /></p>

<p>The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.</p>

<p>“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.</p>

<p>“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not<br />
changed for Vivere.”</p>

<p>With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.</p>

<p>Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.</p>


Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

<p>S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.</p>

<p>The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m.<br />
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.</p>

<p>The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.</p>

<p>“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.</p>

<p>“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”</p>

<p>The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.</p>

<p>The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.</p>

<p>“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.</p>

<p>“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”</p>

<p>The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.</p>

<p>The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.</p>

<p>Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.</p>

<p>“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.</p>

<p>“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.</p>

<p>“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”</p>

<p>S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.</p>

<p>“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.</p>


S&S buys $20m Rainbow Bay site for fifth beachside apartment project

<p data-end="268" data-start="86">Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.</p>

<p data-end="545" data-start="270">As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.</p>

<p data-end="1014" data-start="547">Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of <em data-end="855" data-start="844">wabi-sabi</em> (beauty in imperfection) and the Scandinavian principle of <em data-end="922" data-start="915">hygge</em> (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.</p>

<p data-end="1200" data-start="1016">These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.</p>

<p data-end="817" data-start="541">[smartcode_project:default project_id=150787 project_image_fid=366229]</p>

<p>Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.</p>

<p>“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.</p>

<p>[smartcode_project:default project_id=150787 project_image_fid=366243]</p>

<p>Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.</p>

<p>Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.</p>

<p>“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”</p>

<p>[smartcode_project:default project_id=150787 project_image_fid=366230]</p>

<p>Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.</p>

<p>Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.</p>

<p>In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.</p>

<p>[smartcode_project_cta:default project_id=150787]</p>


Japandi-inspired Koya Residences launch in Toowong

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:ca872054-bfe3-4cc5-a2c8-b373d4dfeafb-2" dir="auto">
<p>A completed Castle Hill apartment development is returning to market with an uncommon level of financial backing, positioning it as one of the more secure options for buyers in Sydney’s north-west.</p>

<p>Skyview in Castle Hill, originally developed by Top Place and now overseen by capital partner <a href="https://www.apartments.com.au/developers/equitifund-group">Equitifund</a>, is being relaunched following a full remediation process. Central to its repositioning is a substantial financial reserve designed to provide ongoing protection and reduce uncertainty for incoming purchasers.</p>

<p>At the core of this offering is an $11 million bond secured during the project’s remediation phase, negotiated by former NSW Building Commissioner David Chandler. With less than $4 million required to complete the works, approximately $7.2 million remains in reserve, with around 15 years left on the term.</p>

<p>[smartcode_project:default project_id=147685 project_image_fid=359134]</p>

<p>Rather than a typical insurance-backed structure, the remaining funds are held as cash, creating a readily accessible financial buffer should any future building issues arise. The structure is intended to provide buyers with an added layer of certainty, differentiating the development from more conventional apartment offerings.</p>

<p>Equitifund Executive Chairman Greg Huxley said the structure provides a level of security not typically seen in apartment developments.</p>

<p>“The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers,” Huxley said.</p>

<p>“Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind.”</p>

<p data-end="884" data-start="551">[smartcode_project:default project_id=147685 project_image_fid=359135]</p>

<p>The remediation process has now been completed in full, with no active rectification orders or outstanding directives linked to the project on NSW Government registers. This outcome reflects the broader tightening of building oversight across the state, while also highlighting the project’s transition into a completed, compliant asset.</p>

<p>In a market where many buyers remain cautious about apartment quality, initiatives like this are designed to restore confidence, giving purchasers greater certainty and a stronger sense of security in their investment.</p>

<p>Equitifund has since acquired the remaining apartments and is managing their reintroduction to the market. With the works finalised and a significant financial reserve in place, the project now presents with a markedly different risk profile compared to its initial release.</p>

<p>[smartcode_project:default project_id=147685 project_image_fid=359137]</p>

<p>Beyond the added security, the development is positioned in one of Castle Hill’s more established pockets. The Gay Street address places it within close proximity to Castle Towers, one of the country’s largest retail centres, as well as Castle Hill Metro Station, which now connects directly to the broader Sydney Metro network.</p>

<p>Equitifund National Sales Director Ben Hamblett said buyer demand in the area continues to be driven by access to transport and amenity.</p>

<p>“Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre,” Hamblett said.</p>

<p>“There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living.”</p>

<p data-end="1889" data-start="1564">[smartcode_project:default project_id=147685 project_image_fid=359145]</p>

<p>The apartments also enter the market at a relatively accessible price point for the area, with two-bedroom configurations starting from $995,000 and rental demand for similar stock reaching around $900 per week. This combination of pricing, connectivity, and completed status is expected to appeal to both owner-occupiers and investors seeking lower-risk entry into the Hills District apartment market.</p>

<p>For eligible buyers, a limited 3.50 per cent p.a. two-year fixed interest rate is currently available through Equitifund’s lending partners, providing an additional layer of affordability.</p>

<p><em>EquitiCredit Pty Ltd ACN 676 363 769 holds ACL 559289 and provides credit assistance. Finance is arranged through EquitiCredit and funded by its lending partners. Interest rates are subject to change and eligibility criteria apply. Terms, conditions, fees and charges may apply. This is not financial advice and should not be relied upon as such. Prospective buyers should seek independent financial advice.</em></p>

<p data-end="2131" data-start="1891">[smartcode_project_cta:default project_id=147685]</p>
</section>


Castle Hill apartments offering unmatched buyer protection through dedicated fund

Engineering Construction

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<div>An interesting week indeed for Australian econofans, with an emphatic rebound in engineering construction reported for the second quarter of the calendar year, driven by Western Australian resources projects (or, at least, one project). </div>
<div> </div>
<div>Then on Thursday, a +0.8 per cent quarterly increase to $28.3 billion was reported for private new capital expenditure, which is not something we've been able to say too often over the past five years! </div>
<div> </div>
<div>The increase was largely driven by a +2.7 per cent uplift in expenditure on plant and equipment to $12.5 billion. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/04/C1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/04/C1.jpg" alt=""></div>
<div class="separator"> </div>
<div>The improvement lately has been as much about a steadying of the resources states as anything else, although Victoria is now seeing a relatively strong expansion in investment. </div>
<div> </div>
<div>Only a tiny fraction of the lift in investment in Victoria has been driven by mining or manufacturing, instead being overwhelmingly accounted for by services industries and other sectors. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/04/C2.jpg" target="_blank"> Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/04/C2.jpg" alt=""></div>
<p> </p>
<div>Perhaps more importantly, the outlook is brightening, with a +17.6 jump in the third estimate for FY2017-18 capital expenditure to just under $102 billion (against market expectations of less than $96 billion, so that's a significant beat). </div>
<div> </div>
<div>Mining investment plans have lifted - though remaining unsurprisingly as subdued compared to the heady peak - while services and other selected industries are beginning to hit their straps, with an increase of +18.6 per cent on prior year expectations. </div>
<p><br><strong><span style="text-decoration: underline;">Construction confounds</span></strong><br><br></p>
<div>AIG's industry surveys, which report on the direction of industry sectors relative to a neutral reading of 50, now record a very strong expansion in the massive services sector (56.4), while manufacturing (59.8) is expanding at the fastest pace in 15 years. </div>
<div> </div>
<div>A salient concern in 2016 was that a disorderly drop in residential construction could lead to widespread unemployment and the strong multiplier effect of that industry going into reverse. </div>
<div> </div>
<div>And yet the construction sector is now top of the pile, with a survey reading of a blistering 60.5 in July. What gives?</div>
<div> </div>
<div>I was down in Sydney this week, and was struck by the burgeoning use of serviced and other office space - you can't help but notice the difference from 2012, when office space was abundant and activity appeared moribund. </div>
<div> </div>
<div>Anecdotal, yep, and yet this has become of the key drivers of the construction outlook. </div>
<div> </div>
<div>Building approvals for office buildings, educational space, and other commercial construction are absolutely flying in New South Wales and Victoria, sending the annual dollar value of non-residential building approved nationally to the highest level on record. </div>
<div>
<br><div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/09/04/BA1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/04/BA1.jpg" alt=""></div>
<div class="separator"> </div>
</div>
<div>And while high-rise apartment approvals have, as expected, dropped by a quarter, there has been a more sustainable rebalancing towards approvals for townhouses, boutique apartment blocks, and detached housing.</div>
<div> </div>
<div>A bit of reluctant credit where it's due, too: the manufacturing surveys pointed to an uplift in infrastructure investment as a key driver of the rebound, responding to the ramp up in budget spend. So, a small hat tip for Treasurer ScoMo there, too. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">New phase</span></strong></div>
<div> </div>
<div>With capital expenditure and engineering construction no longer in material decline after five years of pain, it's fantastic to see the services and manufacturing industries coming to the party to rebalance the economy.</div>
<div> </div>
<div>The only people forecasting an imminent recession now are apparently doing so more in hope than expectation, and the unemployment rate is steadily declining back towards the 4 to 5 per cent range. </div>
<div> </div>
<div>With almost all indicators pointing to improving rather than deteriorating economic conditions ahead, the economy and our housing markets are moving into a new phase, with the household sector to become the main point of focus. </div>
<div> </div>
<div>Specifically there will be a great deal of analysis of household debt, and how households cope with the prospect of a normalisation of interest rates from the end of 2018 forth. </div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
</div>
</body></html>

pwargent-M4siyDbqQY

Mining cliff Rest In Peace: Pete Wargent

<html><body>
<p>Engineering firm Bosch inaugurated its $40 million headquarters and technical centre at Clayton in Victoria this week and said it would invest a further $6.2 million in increasing its diode production capacity.</p>
<p>The investment at its 120,000 square metre campus is its single largest in Australia since it set up the wholly-owned subsidiary in 1954. The company has around 800 employees at the centre.</p>
<p>The centre was inaugurated by the Victorian minister for Industry and Minister for Energy and Resources, the Hon Lily D’ambrosia MP.</p>
<p>Bosch's new headquarters will support new businesses, engineering and R&amp;D initiatives, said a media release.</p>
<p>“The new facility is evidence of Bosch’s long-term commitment to diversified activities in this region including sales and distribution, high-tech engineering, advanced manufacturing and further investment into exciting new fields,” said Gavin Smith, Bosch president with responsibility for the region Oceania. </p>
<p><img src="/images/2016/04/22/Screen%20Shot%202016-04-22%20at%206.54.24%20PM.png" alt=""></p>
<p>Most recently, the company invested in Australian start-up The Yield, which focuses on micro-climate sensing technology in agriculture and aquaculture.</p>
<p>Bosch is also working in the areas of Highly Automated Driving (HAD), vehicle connectivity and vehicle security (through secure gateway systems) in Australia.</p>
<p>New business activities in Australia have also been introduced in eBike service, motorsport components sales and innovative software solutions for the Internet of Things (IoT).</p>
<p>In addition Bosch is investing a further $6.2 million in manufacturing for the global automotive sector. The Clayton facility's Diodes production capacity will be increased to cater to its growing international customers. The federal government has also contributed $1 million from the Automotive Diversification Programme (ADP). </p>
<p>The new facility incorporates offices, workshops, testing facilities, training rooms and employee amenities. It has a landscaped courtyard with semi-established trees, and an outside terrace with an alternative working space.</p>
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prateek24-ezbwHMbNAk

Bosch's $40 million centre in Victoria inaugurated 

<html><body>
<p><span>GUEST OBSERVER</span></p>
<p><span>The fall in the volume of construction work done over QIII was larger than market consensus which was for a fall of 2.0% {CBA in line with consensus}.  However, the larger than expected fall follows an upwardly revised 2.1% increase in QII (previously reported as +1.6%)</span></p>
<p><span>There were plenty of familiar themes in today’s result – falling engineering construction was partially offset by a pickup in residential construction.  And non‑residential construction remains weak.  This has been the general pattern in the data for the past two years.  The chart opposite depicts these trends.</span></p>
<p><span>Engineering construction continues to fall as we work our way through the massive downturn in mining investment.  The drag on growth from falling mining investment will continue through 2015/16 and isn’t expected to lessen until 2016/17.  It’s the hangover from a once in a century mining boom.</span></p>
<p><a href="/images/2015/11/25/Screen%20Shot%202015-11-25%20at%203.08.10%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/11/25/Screen%20Shot%202015-11-25%20at%203.08.10%20PM.png" alt=""></span></p>
<p><span>Residential construction is powering along and is providing a partial offset to declining engineering construction.  We have a big lift in apartment construction underway across Australia.  And the forward looking indicators, namely the building approvals, suggest that this will continue deep into 2016.  Today’s figures show that the volume of dwelling construction is up 12.4% through the year.  The resultant increase in the housing stock from a big lift in residential construction will put some downward pressure on rent and dwelling price inflation over the next year.</span></p>
<p><span>The breakdown by public and private sectors construction shows that it’s important to look at the reality rather than necessarily believe the rhetoric.  Despite there being plenty of talk around big investment in public infrastructure the data shows that it simply isn’t the case; at least at the national level.  Public construction work done is down 9.8% through the year and has been a drag on GDP growth since 2010.   </span></p>
<p><span>The construction deflators show that inflation in the residential construction sector has picked up a little while it is negative in the engineering space.  It’s unsurprising really given residential construction has picked up sharply while engineering construction is in decline. </span></p>
<p><a href="/images/2015/11/25/Screen%20Shot%202015-11-25%20at%203.10.08%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/11/25/Screen%20Shot%202015-11-25%20at%203.10.08%20PM.png" alt=""></p>
<p><em><span>Gareth Aird is e</span><span>conomist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.</span></em></p>
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