<p>The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.</p>

<p>Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."</p>

<p>That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.</p>

<p>Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297740]</p>

<p>Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.</p>

<p>The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297741]</p>

<p>The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.</p>

<p>Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297735]</p>

<p>Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.</p>

<p>Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.</p>

<p>[smartcode_project_cta:default project_id=144913]</p>


Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

<p>National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.</p>

<p>Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373556]</p>

<p>The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.</p>

<p>Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.</p>

<p>"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.</p>

<p>"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.</p>

<p>"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373559]</p>

<p>Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.</p>

<p>The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373583]</p>

<p>Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.</p>

<p>Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373571]</p>

<p>Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>Completion of Crest &amp; Walker is slated for late 2028.</p>

<p>[smartcode_project_cta:default project_id=145922]</p>


Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

<p>The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.</p>

<p>It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.</p>

<p>Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.</p>

<p>While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68833]</p>

<p>Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.</p>

<p>The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.</p>

<p>"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.</p>

<p>"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.</p>

<p>"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=360215]</p>

<p>One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.</p>

<p>"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.</p>

<p>While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.</p>

<p>"The size of the site is something that would be incredibly difficult to replicate today," she says.</p>

<p>"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68839]</p>

<p>There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.</p>

<p>As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.</p>

<p>"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.</p>

<p>A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.</p>

<p>The remaining apartments are ready to inspect in person, by appointment.</p>

<p>[smartcode_project_cta:default project_id=6515]</p>


A decade in the making: Residents to move into Chevron One as construction wraps up

<p>A general rule of thumb in new apartment developments is that the penthouses get the rooftop.</p>

<p>It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.</p>

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.</p>

<p>Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.</p>

<p>The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374053]</p>

<p>"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.</p>

<p>"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.</p>

<p>"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374052]</p>

<p>The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.</p>

<p>Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.</p>

<p>The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374054]</p>

<p>Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.</p>

<p>Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370962]</p>

<p>While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.</p>

<p>It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.</p>

<p>Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=366550]</p>

<p>That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.</p>

<p>Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

<p>As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=359199]</p>

<p>The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.</p>

<p>Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.</p>

<p>In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360299]</p>

<p>The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.</p>

<p>Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.</p>

<p>This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360300]</p>

<p>What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.</p>

<p>The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.</p>

<p>Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.</p>

<p>[smartcode_project_cta:default project_id=426]</p>


Elevated amenity anchors daily life at Aeris, Melrose Park

Mining

<html><body>
<p>As commodity prices and mining investment has sunk, demand for housing in mining areas has also slowed. This week we take a look at the performance of some of the major mining towns.</p>
<p>Mining towns and regions across the country have been hard hit as investment and commodity prices have slumped.  This week we’re looking at how the housing market has performed in terms of the volume and median price of sales across these regions.  The results indicate that not all mining towns have recorded an equivalent slowdown.  The following analysis looks at annual median prices and annual sales volumes</p>
<p><strong>Port Hedland </strong>– median prices peaked at $925,000 in June 2013 and sales volumes peaked at 402 in July 2006.  Current median prices are $390,000 (-58 percent lower than peak) and current sales are 128 (-68 percent below peak).  In what may be a positive sign for the market, annual sales are once again trending higher, although the median prices trend is yet to bottom out.</p>
<div>
<p><a href="/images/2016/11/09/2016-11-07--image1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image1.jpg" alt=""></p>
<p><strong>Isaac </strong>– median prices peaked at $620,000 in November 2012 and sales volumes peaked at 661 in March 2012.  Current median prices are $138,390 (-78 percent lower than peak) and current sales are 117 (-28 percent below peak).  Transaction numbers have recently started to rise, however median price trends remain negative.</p>
<p><a href="/images/2016/11/09/2016-11-07--image2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image2.jpg" alt=""></p>
<p><strong>Karratha </strong>– median prices peaked at $815,000 in October 2010 and sales volumes peaked at 511 in March 2005.  Current median prices are $362,980 (-55 percent lower than peak) and current sales are 235 (-54 percent below peak).  Transaction numbers have been trending higher but the median sale price is still falling, albeit at a more moderate pace.</p>
<p><a href="/images/2016/11/08/Screen%20Shot%202016-11-08%20at%2012.25.26%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/08/Screen%20Shot%202016-11-08%20at%2012.25.26%20PM.png" alt=""></p>
<p><strong>Gladstone </strong>– median prices peaked at $475,000 in September 2012 and sales volumes peaked at 1,823 in July 2007.  Current median prices are $350,000 (-26 percent lower than peak) and current sales are 572 (-69 percent below peak).  Dwelling turnover is continuing along a downwards trend with no sign of an improvement in buyer demand just yet.</p>
<p><a href="/images/2016/11/09/2016-11-07--image4.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image4.jpg" alt=""></p>
<p><strong>Kalgoorlie-Boulder </strong>– median prices peaked at $351,250 in June 2015 and sales volumes peaked at 1,656 in September 2006.  Current median prices are $312,000 (-11 percent lower than peak) and current sales are 345 (-79 percent below peak).  Transaction numbers appear to be levelling, however there is no sign of any upwards pressure on prices or turnover.</p>
<p><a href="/images/2016/11/09/2016-11-07--image5.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image5.jpg" alt=""></p>
<p><strong>Mackay </strong>– median prices peaked at $435,000 in June 2013 and sales volumes peaked at 3,264 in April 2004.  Current median prices are $345,000 (-21 percent lower than peak) and current sales are 1,045 (-68 percent below peak).  Transaction numbers have recently levelled across the Mackay housing market but are yet to improve.</p>
<p><a href="/images/2016/11/09/2016-07-11--image6.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-07-11--image6.jpg" alt=""></p>
<p><strong>Roxby Downs </strong>– median prices peaked at $500,016 in November 2013 and sales volumes peaked at 187 in February 2004.  Current median prices are $250,000 (-50 percent lower than peak) and current sales are 23 (-88 percent below peak).  Transaction numbers have recently increased slightly across Roxby Downs.</p>
<p><a href="/images/2016/11/09/2016-11-07--image7.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image7.jpg" alt=""></p>
<p>The smaller mining townships which don’t act as major service centres have tended to see a much sharper fall in median selling prices than the larger townships.  The decline in sales and prices from the market peaks has been substantial across all of these regions, however the regions that have seen the most significant downturn were those that also recorded a significant upswing in prices and turnover rates prior to the peak in commodity prices.</p>
<p>Recently, most of these mining towns have experienced a stabilisation in sales with some regions having seen an increase in sales volumes.  Although sales may have broken the declining trend in a number of areas, median selling prices are generally continuing to trend lower across each of the regions highlighted.</p>
<p>The improvement in transactional activity could potentially be due to larger numbers of distressed sales moving through these markets, but may also be attributable to a cautious return of buyers seeking out a bargain.</p>
<p>The challenge for many of these regions remains that despite a recent uptick in commodity prices, investment in large infrastructure projects (new mines, processing facilities, transport etc) has dried up and subsequently few additional jobs are being created. </p>
<p>Although commodity prices have recently surged, particular iron ore, coking coal and thermal coal, it is not yet leading to a substantial increase in exploration activity or employment, subsequently housing demand remains weak and continues to have a dampening effect on housing prices. </p>
<p><em>Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></p>
</div>
</body></html>

ckusher-ujnxiKuFQs

The lowdown on the mining town slowdown from Gladstone to Karratha

<html><body>
<p>GUEST OBSERVER </p>
<div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">The end of the mining investment downturn, which remains the dominant dynamic shaping Australia’s investment project pipeline, is in sight.</div>
<div class="column">
<br>The 5 remaining mega gas projects under construction, with a combined value of $172bn, are due to be completed by end 2017.</div>
<div class="column">
<br>This will see the value of definite mining projects (those under construction or committed) fall sharply, down from $201bn currently.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.42.14%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.42.14%20AM.png" alt=""></div>
<div class="column">
<br>The other key dynamic, albeit less powerful, is the upswing in public transport projects.</div>
<div class="column">
<br>Definite public transport projects are now valued at $100bn. This represents a sharp increase on a year ago, up $45.4bn, including a $5.3bn rise in June <br>State by state, there is a stark divide. The mining investment downturn is being felt in Qld, WA and the NT.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.43.49%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.43.49%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">While it is the state governments in NSW and Victoria, which are benefitting most from the housing boom, that are leading the way on public investment. </div>
<div class="column"> </div>
<div class="column">
<div class="page" title="Page 5">
<div class="layoutArea">
<div class="column">Australia’s investment project pipeline was $812.8bn in September 2016, as reported by Deloitte Access Economics in their Investment Monitor. The database includes 1,102 investment projects valued at $20mn or more.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.44.52%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.44.52%20AM.png" alt=""></div>
<div class="column">
<br>This is $9.7bn lower than three months ago. Projects completions were worth $6.8bn in the quarter, while project deletions were $18.1bn, including the cancelling of the ‘possible’ $12bn Port Hastings development in Victoria.</div>
<div class="column">
<br>44 new projects were added to the database, with a value of $6.3bn.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.45.58%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column">
<img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.45.58%20AM.png" alt=""><br><p>Cost revisions added $8.9bn, including WestConnex, which increased to $16.8bn from $11.5bn following an updated strategic business case.</p>
</div>
<div class="column">The value of definite projects (under construction or committed) increased to $434.7bn in September, +$3.6bn on June and $28.2bn above a year ago.<br>Note, the Wheatstone LNG project, valued at $29bn in the database, has reportedly experienced a cost blowout of $6.6bn.<br><br>Note: the database includes the full value of a project until it is completed or deleted. This differs from the ABS notion of the ‘work pipeline’, which is the value of work yet to be done on projects currently under construction. </div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.46.59%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.46.59%20AM.png" alt=""></div>
<div class="column">
<br>Non mining: Publis transport leads the way</div>
<div class="column">
<br>The transport &amp; storage sector has re-emerged as a driver of the investment pipeline as state governments, particularly in NSW and Victoria, commit to new public transport initiatives.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.48.00%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.48.00%20AM.png" alt=""></div>
<div class="column">
<br>Total non-mining projects are valued at $432.2bn. Of that, $233.8bn are at the definite stage, which is $4.6bn higher than in June and $43.5bn above the level of a year ago.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.49.04%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.49.04%20AM.png" alt=""></div>
<div class="column">
<br>Definite public transport projects are now valued at $100bn. This represents a sharp increase on a year ago, up $45.4bn, including a $5.3bn rise in June.</div>
<div class="column">
<br>NSW leads the way in public transport projects, with $37bn worth under construction and a further $18.5bn at the committed stage.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.50.16%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.50.16%20AM.png" alt=""></div>
<div class="column">
<br>Victoria has $22.1bn in definite public transport projects, although $13.3bn of these are at the committed stage (the $11bn Metro project starts in 2018).<br>For services (retail, finance &amp; business services, accommodation, community services) the definite project pipeline is $64bn, up from a 2010 low of $39bn but flat over the past two years. Projects at the planning stage total $46bn, including a number in the tourism sector, which is a potential bright spot. </div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.51.08%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column">
<img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.51.08%20AM.png" alt=""><br><br>Investment pipeline: State by state<br><br>The investment project pipeline on a state by state basis is heavily influenced by the mining investment downturn (WA, Qld &amp; NT) and by the public transport upswing (NSW &amp; Vic).</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.52.13%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.52.13%20AM.png" alt=""></div>
<div class="column">
<br>In the mining state of WA, definite projects total $124bn, a figure that will fall sharply as $102bn in gas projects are completed by the end of 2017.</div>
<div class="column">
<br>In Qld, definite projects are at $70bn, including the $25bn Origin LNG project, due to be completed by late 2016. Key will be whether tourism projects, still at the planning stage, eventually proceed.</div>
<div class="column">
<br>In NSW, the pipeline of definite projects has climbed to $81bn, up from $56bn a year ago, with the prospect of additional transport projects to progress from the planning stage.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.53.08%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.53.08%20AM.png" alt=""></div>
<div class="column">
<br>In Victoria, projects under construction is relatively stable at $27bn, although the projects at the committed stage now stands at $15bn.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.54.07%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column">
<img src="/images/2016/11/04/Screen%20Shot%202016-11-04%20at%208.54.07%20AM.png" alt=""><br><p>In South Australia, the value of definite projects has risen to $13bn, up from $8bn a year ago, boosted by public works. </p>
<div class="page" title="Page 17"><em>Andrew Hanlan is senior economist for Westpac and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/andrew-hanlan/3/222/430" target="_blank">here</a>. </em></div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

jchancellor-FAypfDUnLy

End of the mining investment downturn in sight: Westpac's Andrew Hanlan

<html><body>
<p><img src="https://counter.theconversation.edu.au/content/67229/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"></p>
<p>GUEST OBSERVER</p>
<p>The mining industry will still be important to WA’s economy in the future and new growth is unlikely to come from other industries like tourism and agriculture, new research has found.</p>
<p>A growing, and ageing, population is likely to drive continued jobs growth in the health and social services sector, and in education and training. </p>
<p>Our report not only highlights what industries might provide the most employment in the future but also what form that employment will take. We found work will be more precarious and with reduced hours.</p>
<p>In the latest state cabinet reshuffle, WA Premier Colin Barnett indicated that changes in ministry portfolios were aimed at supporting economic diversification outside the resources sector. The spotlight has been on the tourism industry as a potential new growth sector as the mining sector slows, with the premier himself taking on the role of tourism minister. </p>
<p>But the government might need to rethink these policy priorities to support the creation of secure work, in a wider range of industries.</p>
<h2>The future industrial landscape in WA</h2>
<p>Despite a fall in iron ore prices, the mining industry continues to maintain its dominance in the WA economy, contributing about 37% of the gross value added to the economy in 2015. By contrast, the agriculture, retail, and accommodation and food services sectors in WA contributed little or no growth in value in 2014-15. </p>
<p>Although more jobs were created in the hospitality sector in 2014-15, employment in agriculture and retail fell over the same period. Two sectors that have delivered growth in both economic value and employment in 2014-15 are health care and social services, and arts and recreation. </p>
<p><strong>Growth in industry value added to the economy and employment in WA, 2014-15 (%)</strong></p>
<p><a href="/images/2016/10/21/image-20161018-16145-zey8ai.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/21/image-20161018-16145-zey8ai.jpg" alt=""></p>
<h4><span class="attribution">Author provided</span></h4>
<p>Employment in health care and social assistance in particular has expanded as a share of the state’s total employment, from 9.5% to 12% between 2010 and 2015. This is not surprising given the growing demands placed on WA’s health care system from an ageing population.</p>
<p>The industrial landscape in WA seems to have changed little despite the slowdown of the resources sector, which begs the question, which of the state’s industry sectors are likely to step up in the future? </p>
<p>There are some signs that investment in energy production, especially LNG, is starting to deliver positive employment returns, but the contribution of high-tech manufacturing to the state’s economic future is less clear, despite the state’s great strengths in science, research and innovation. </p>
<h2>The future of the workforce in WA</h2>
<p>West Australians now face a future characterised by weaker labour market demand, rising precariousness and reduced work hours. Western Australia’s unemployment rate has traditionally remained well below the national rate, but for the first time since 2006, the state’s unemployment rate exceeded the national average.</p>
<p><strong>Unemployment rate in WA versus Australia, 2006 to 2016 (%)</strong></p>
<p><a href="/images/2016/10/21/image-20161018-16176-psw2yr.jpg" target="_blank">Click to enlarge</a></p>
<h4><span class="attribution"><img src="/images/2016/10/21/image-20161018-16176-psw2yr.jpg" alt=""></span></h4>
<h4><span class="attribution">Author provided</span></h4>
<p>Underemployment has risen more rapidly in Western Australia than in other states and territories, from 6% in 2011 to 10% in 2016. The share of WA employees on casual contracts has also been on an upward trajectory in recent years.</p>
<p>This signals career pathways are likely to be less straightforward in the future. It may be that more and more West Australians can expect to hold multiple jobs to make up preferred work hours, and multiple job turnovers and career shifts before retirement. </p>
<p>During the peak of the mining boom, the gap between the rich and the poor grew, with low-income households falling behind other households in WA at a faster rate than the rest of Australia. With the slowdown of the resources sector, there has been a fall in overall income inequality in WA. </p>
<p>However, there remains a persistent gap between the rich and the poor in terms of wealth. The richest 20% of WA households still hold around two-thirds of the state’s aggregate household net wealth. </p>
<p><strong>Share of household net wealth by quaintile: Western Australia, 2013-14</strong></p>
<p><a href="/images/2016/10/21/image-20161018-16156-3zp1uo.jpg" target="_blank">Click to enlarge</a></p>
<h4><span class="attribution"><img src="/images/2016/10/21/image-20161018-16156-3zp1uo.jpg" alt=""></span></h4>
<h4><span class="attribution">Author provided</span></h4>
<p>The poorest 20 percent of households hold a mere 0.8 percent of the state’s total household net wealth by value. The ideal of closing the gap between rich and poor remains out of reach despite the end of prolonged economic bonanza that has mostly benefited the rich.</p>
<h2>Planning for the future</h2>
<p>Much has been made of growing economic diversification and support for non-resource sectors. However, our research questions whether industries (such as agriculture, food and tourism) are of a sufficient scale to continue the state’s economic growth.</p>
<p>In relation to the labour market, Western Australia’s future appears to be one marked by reduced work hours and a greater risk of job insecurity.</p>
<p>Clearly there needs to be a focus on designing policy settings that create secure work for the state’s working age population. This may also require a shift in labour market expectations towards more flexible career pathways in a number of industries.</p>
<p> </p>
<p><em><span class="fn author-name">Alan Duncan is d</span>irector, Bankwest Curtin Economics Centre and Bankwest Research Chair in Economic Policy, Curtin University and can be contacted <a href="https://theconversation.com/profiles/alan-duncan-100759" target="_blank">here</a>.</em></p>
<p><em><span class="fn author-name">Rachel Ong is d</span>eputy director, Bankwest Curtin Economics Centre, Curtin University and can be contacted <a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">here</a>.</em></p>
<p><em><span class="fn author-name">Yashar Tarverdi is r</span>esearch fellow, Curtin University and can be contacted <a href="https://theconversation.com/profiles/yashar-tarverdi-309797" target="_blank">here</a>.</em></p>
<p><em>All are authors for The Conversation.</em></p>
<p class="role"> </p>
</body></html>

Western Australia’s economic future remains uncertain after the mining boom: study

<html><body>
<div id="post-body-8296077642061233663" class="post-body entry-content">
<div>Strewth, you know things haven't been hunky dory for housing markets in your region when the central bank starts profiling financial stability risks in its bi-annual Review. </div>
<div> </div>
<div>Housing loan arrears continue to deteriorate in the mining regions of Western Australia and Queensland.</div>
<div> </div>
<div>I have actually heard much about this already from various sources - in some small mining towns the situation is beyond chronic - but now it's starting to feed through to the official data.</div>
<div> </div>
<div>Interestingly, nationally applications for property possession are still declining as a share of the total dwelling stock. </div>
<div> </div>
<div>But clearly this is not the case in mining hotspots. </div>
<div> </div>
<div>High vacancy rates, falling rents, and falling prices are hammering property investors in mining regions, reported the Reserve  Bank of Australia (RBA).</div>
<div><strong><span style="text-decoration: underline;"> </span></strong></div>
<div><strong><span style="text-decoration: underline;">Illiquidity</span></strong></div>
<div> </div>
<div>Banks have reported that in some regions even with big price discounts properties can't be sold.</div>
<div> </div>
<div>The only minor consolation or "cushion" for households in aggregate is that in some of the worst-affected regions mining companies own a high proportion of the dwelling stock, so personal administrations, while rising in mining regions, nationally remain close to 15-year lows.</div>
<div> </div>
<div>Though I doubt this feels like much of a consolation if you're the one stuck with an illiquid and depreciating asset.</div>
<div> </div>
<div>The RBA profiled the Pilbara and the Kimberley region in coastal Western Australia. </div>
<div> </div>
<div>And in Queensland, the RBA took a shufti at Townsville, Mackay, the Bowen Basin, Central Highlands.<br><br>
</div>
<div><a href="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%201.48.45%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/10/18/Screen%20Shot%202016-10-18%20at%201.48.45%20PM.png" alt=""></div>
<div class="separator">Crikey.</div>
<div> </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>
<div class="post-footer"> </div>
</body></html>

pwargent-M4siyDbqQY

Mining crunch stress and house prices

<html><body>
<p>With healthy levels of activity in the residential construction sector the proposed changes to mine subsidence districts by the Mine Subsidence Board (MSB) are well-timed, reported the Housing Industry Association.</p>
<p>"The proposed new Districts of Maitland West and Branxton in particular are supported as they sit within important growth corridor that shall continue to progress in the coming years," explained HIA Hunter Executive Director, Craig Jennion.</p>
<p>"Whilst long-term residents may be well aware of previous mining activity in these locations, for new residents the establishment of these Districts will ensure that any new building activity, including renovations, will trigger the need to seek MSB approval prior to commencement," Mr Jennion said.</p>
<p>In other locations Districts are proposed to be reduced where land has not been undermined.</p>
<p>"This is commended for this shall both shorten approval timeframes and reduce construction costs as approvals will no longer be required and engineering and architectural considerations will not need to be incorporated into home designs where a risk does not exist. This will remove red tape for industry and make homes more affordable for homeowners".</p>
<p>HIA believes that in addition to a review of Districts the MSB and the NSW Government should do more to address industry concerns about subsidence, particularly in inner Newcastle.</p>
<p>"Whilst the establishment of a $17 million fund to address subsidence issues is to be applauded HIA has concerns that this will be inadequate to address the level of subsidence that has stopped development at higher densities in recent decades," Mr Jennion said.</p>
<p>In addition, HIA believes that the NSW government should continue to ensure there are sufficient funds to support research and investment in new technology to address subsidence concerns.</p>
<p>"Addressing this will provide confidence to industry and will ensure that the residential housing sector can provide projects with the height and density to revitalise Newcastle and provide the lifestyle that the community both needs and expects," concluded Mr Jennion.</p>
</body></html>

jonathanchancellor-7SQnKwU6yx

Property 101: Residential approvals in NSW regions with mining subsidence

<html><body>
<p><img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1"></p>
<p>GUEST OBSERVER</p>
<p>Coal’s impact on the Great Barrier Reef by causing climate change is one of the reasons why environmentalists oppose the development of coal fields and exports in Queensland. But fossil fuels could have a more direct impact on the reef and the waters around it, through chemicals produced during their production and distribution.</p>
<p>When coal dust is released in the marine environment it can damage marine ecosystems. Coal contains a number of different chemicals, but it is polynuclear aromatic hydrocarbons (PAHs), which are known carcinogens, that are of most concern.</p>
<p>Some components of coal PAHs cause biochemical changes in fish and can lead to cancer. The coal dust has a very slow degradation rate and will build up in the ecosystem from the continuous input.</p>
<p>Coal dust also absorbs chemicals in the coastal zone and transports things like pesticides and herbicides offshore. Oil spills are another source of PAHs in the marine environment.</p>
<p>It is currently impossible for Australia to assess the impact of these chemicals in marine sediments, because our sediment guidelines are out of date. They need to be updated to match the standards used elsewhere, such as in the United States.</p>
<h2>Coal dust and Great Barrier Reef marine life</h2>
<p>I have previously looked at how far these chemicals can travel from coal ports. I found they can be detected in suspended sediments all the way to the shelf break 200km offshore. (I also published a corrigendum to this paper to correct data errors and to explain how sediment guidelines need to be updated.)</p>
<p>I used the Australian and the US Environment Protection Authority (EPA) sediment quality guidelines to assess the concentration of PAHs in the sediments and suspended sediments on the Great Barrier Reef. The guidelines are meant to indicate “trigger values” for the concentration of possible toxins. If trigger values are reached then sources should be curtailed.</p>
<p>My study showed the concentrations were below toxic levels as then defined by the US guidelines. But it is impossible to know based on the Australian guidelines because these guidelines don’t target the PAHs contained in coal or oil. To explain why, we have to go into a bit of chemistry.</p>
<p>The composition of the PAHs can indicate the source from coal, oil or combustion processes.</p>
<p>The US guidelines use 34 key PAH groups (a total of about 290 individual compounds) and are currently the best available for assessing oil pollution incidents.</p>
<p>The Australian guidelines do not assess the PAHs that are the major contributor to PAHs in coal and oil. The Australian guidelines specify only 20 “parent” PAHs. These guidelines are more relevant to combustion products.</p>
<h2>When is it toxic?</h2>
<p>The Australian guidelines consider PAHs reach toxic levels at 10-50 milligrams per kilogram of sediment. But research suggests this is way too high.</p>
<p>Modern assessments of oil spills now rely on the PAH content of oils in addition to the total oil content.</p>
<p>PAHs make up about 1% of total oil content. If you applied these guidelines to an oil spill, the toxic level of 10mg PAH per kg of sediment would equal 1,000mg of oil per kg. This oil content would kill everything in marine sediments.</p>
<p>For example, I and a colleague published a detailed study of fiddler crabs after the West Falmouth oil spill. We determined that total oil concentrations of 100-200mg oil per kg of sediment were toxic to juvenile crabs. Concentrations of 1,000mg per kg were toxic to adults and/or caused a number of impacts before the crabs died.</p>
<p>As PAHs make up around 1% of most oils, this means that the trigger values should be 1mg PAH per kg (with a maximum of 5mg per kg). And this assessment must include the PAHs that are commonly found in oil and coal.</p>
<p>Commercial Australian labs don’t assess all these PAHs yet, but neither did the American labs until it became necessary for assessing major oil spills such as the Exxon Valdez spill in Alaska and the Deepwater Horizonspill in the Gulf of Mexico. We should not wait for the next disaster to upgrade our capability.</p>
<h2>Cleaning up coal ports</h2>
<p>We also need the ports to reduce their inputs. Townsville port has reduced the dust emission from its powdered zinc and lead loadings.</p>
<p>The train cars are covered and one at a time enter a shed which is under negative pressure. The powder is dumped in a hopper, transported to the conveyors and loaded onto the ships with no or little dust escaping the process.</p>
<p>The cars are then rinsed before leaving the shed. Water is retained and filtered so no dust leaves the area.</p>
<p>Why can’t coal be handled the same way? Improvement in loading metal powders was brought on by public objections to the previous operations.</p>
<p>This would eliminate coal piles in the coastal zone which blow dust all over nearby cities such as Gladstone and leach into coastal creeks. We also need the Australian sediment quality guidelines for PAHs brought up to 21st-century standard.</p>
<p>Do we have to wait until we have another incident like the Montara platform explosion in the Timor Sea in 2010 before we update our guidelines and response times?</p>
<p><span class="fn author-name">Kathryn Burns is a m</span>arine scientist, James Cook University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/kathryn-burns-118459" target="_blank">here</a>.</p>
</body></html>

Pollution guidelines leave a blind spot for assessing the impact of coal and oil

<html><body>
<p>Five families from the NSW Southern Highlands have won their appeal to stop mining company Hume Coal accessing their land for exploration drilling.</p>
<p>The landowners of five rural properties in Sutton Forrest appealed against a November decision by the Land &amp; Environment Court that allowed the Korean-owned firm prospecting rights over their properties.</p>
<p>Chief judge Brian Preston of the Land and Environment Court ruled in favour of the landowners and ordered Hume Coal to pay their legal costs.</p>
<p>The judge accepted the families' argument they had made "significant improvements" to their properties, which included a berry farm, cattle properties and an equestrian farm.</p>
<p>"It was an extraordinary outcome," local broadcster Alan Jones from 2GB said.</p>
<p>Peter Martin, who owns a property in Sutton Forest, said it was a huge relief.</p>
<p>He said it set a precedent for fellow landowners fighting coal companies who want to enter their land.</p>
<p>"It's fundamental to our fight against Hume Coal and POSCO in the Highlands, it really says they can't get onto some key properties, which will make developing a mine plan incredibly difficult," he said.</p>
<p>"But its bigger than that, it means a coal mine will have great difficulty getting up and running in the Southern Highlands.</p>
<p>Hume Coal project director Greig Duncan told the ABC the court decision would have "severe ramifications for mining and exploration in NSW".</p>
<p>"It is now up to the NSW State Government to review the land access laws and regulations, so that the exploration industry can continue to progress opportunities, employment and the economy for the people of NSW," he said.</p>
<p>Alan Jones advised POSCO have now indicated they will not appeal the latest decision.</p>
<p>Hume Coal has spent approximately $50 million acquiring seven properties, including Mereworth near Berrima for $11.1 million and Evandale at Sutton Forest for $12 million.</p>
</body></html>

Southern Highland landowners win appeal against Korean coal miners

Why is non-mining business investment so weak and what is the outlook? CBA's Gareth Aird

<html><body>
<div>The ABS released its Detailed Labour Force figures for October 2015 which provided further detail on the extraordinary rate of job gains in New South Wales, where employment has grown at an electric pace over the past year. </div>
<div> </div>
<div>Sydney recorded another strong month of gains and has created +85,000 positions over the year to October. Interestingly after a fairly dismal four years, the rest of the state has also created +51,000 new roles. </div>
<div> </div>
<div>Of Australia's other major labour markets Melbourne (+78,000) and lately the improving Greater Brisbane region (+43,000) have accounted for the bulk of new positions.</div>
<div> </div>
<div><a href="/images/2015/11/20/A1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/20/A1.jpg" alt=""></div>
<div> </div>
<div>
<div>By contrast over the past five years since October 2010 total employment in Adelaide has declined by 5,500.</div>
<br><strong><span style="text-decoration: underline;">Unemployment divergence</span></strong><br><br><div>Looking at capital city unemployment rates on a rolling annual basis shows that while unemployment rates are rising in Perth and Adelaide, elsewhere they have been declining.</div>
<div> </div>
<div><a href="/images/2015/11/20/A2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/20/A2.jpg" alt=""></div>
<div> </div>
<div>
<div>Sydney has been the king of employment gains in recent times, and as such recorded an unemployment rate for October of just 4.7 per cent across the Greater Sydney region.</div>
<div> </div>
<div>Over the past year some of the consistently lowest unemployment rates in Australia have been seen in Sydney's Northern Beaches (2.5 per cent), Eastern Suburbs (3.2 per cent), North Sydney &amp; Hornsby (3.7 per cent) and Inner West (4.3 per cent).</div>
<div> </div>
<div><a href="/images/2015/11/20/A3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/20/A3.jpg" alt=""></div>
<div> </div>
<div><span>At the other end of the scale the unemployment rate in Adelaide continues to trend up to well above 7 per cent, with further jobs losses subsequently reported in the month of November in the struggling state of South Australia.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/11/20/A4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/11/20/A4.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>After a lift in unemployment as the resources capital expenditure boom passed its peak, Greater Brisbane has seen a pleasing improvement in its local economy.</div>
<div> </div>
<div>Employment gains have picked up to a solid pace and the rolling annual unemployment rate has trended down from 6.3 per cent to 5.9 per cent through this calendar year to date.</div>
<div> </div>
<div><a href="/images/2015/11/20/A5.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/11/20/A5.jpg" alt=""></div>
<div> </div>
<div>
<div>
<strong><span style="text-decoration: underline;">Mining regions suffer</span></strong><br><em><br></em><em>Commsec</em> put out a usueful reseach note which reported that mining regions - and coal mining regions in particular - have suffered, with jobless rates in the Hunter Valley and Mackay having broadly doubled.<br><br>This in itself comes as no great surprise - I predicted as much here on this blog 14 months ago.<br><br>Other regions with elevated levels of unemployment have included Wide Bay, Logan-Beaudesert, Adelaide North, Townsville, and Cairns.<br><br>The news for regional Australia is far from all bad, however.</div>
<div>
<br>While there is no doubt that many parts of regional Queensland are doing it very tough, there have been improvements in unemployment rates in the Wide Bay region, the Hunter Valley, Newcastle &amp; Lake Macquarie, and Geelong (and possibly several other regions, subject to the vagaries of sampling variability).<br><br>Indeed, after some ugly results early in the year the figures reported for regional unemployment have generally improved of late, so perhaps some of the mining fallout is now in the rear view mirror, as contractors migrate back to their respective capital cities.<br><br>That said, total regional employment growth outside New South Wales (and to some extent Queensland) has been weak, while new roles may also be lower paid than those which they replaced.</div>
<div> </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>
</div>
</div>
</div>
</body></html>

Mining regions struggle: Pete Wargent

<html><body>
<p><span>Property prices in Australia’s regional resource hubs have plunged by up to 74% over the past three years, according to CBRE’s latest research Australian ViewPoint, as the market continues to come off its peak after riding the mining boom for more than a decade.</span></p>
<p><span>The research paper, <a href="https://researchgateway.cbre.com/Layouts/PublicReportAccess/Default.aspx?PUBID=7a61a674-8a41-4d03-a28a-cac27a301a15" target="_blank"><span>Volatile pricing in mining towns</span></a>, by Jacob Fong and Sam Reilly shows mining towns are now seeing the flipside of the cycle, as resource spending declines and transient populations relocate. </span></p>
<p><span>Residential markets in Queensland’s mining towns have experienced the biggest drop in property prices, with some sales reflecting falls of 73.4% in Dysart and 70.6% in Moranbah over the past three years.</span></p>
<p><a href="/images/2015/10/27/Screen%20Shot%202015-10-27%20at%2010.36.53%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/27/Screen%20Shot%202015-10-27%20at%2010.36.53%20AM.png" alt="" width="1020" height="833"> </span></p>
<p><span>CBRE senior research manager Sam Reilly said the Isaac region had been highly exposed to resource spending and was now seeing significant contraction as the market came off its peak. </span></p>
<p><span>“The boom period for Queensland’s mining town house prices is over, and as investment spending continues to slow, demand for property has contracted significantly, resulting in substantial price volatility in these markets,” Mr Reilly said. </span></p>
<p><span>“Rental demand, previously fuelled by resource employment has now fallen and plunging rental returns have seen capital values contract by more than 70% in some areas.” </span></p>
<p><span>On the west coast, residential markets in the state’s mining towns have also experienced a sharp tumble in property prices, with Karratha council area recording a 44% fall in prices since 2012 – including a 31% dive in the past year. </span></p>
<p><span>Mr Reilly said the construction led jobs boom in Australia’s resource rich areas had passed. </span></p>
<p><span>“$65 billion in mining projects across Australia have been completed over the past two years and have now transitioned to the export phase, which is far less labour intensive,” Mr Reilly explained. </span></p>
<p><span>“With commodity prices down 40% from 2012 levels, the chances of a rapid rebound in new resource projects is low, therefore, the residential markets in Australia’s mining towns are unlikely to enter a new growth cycle over at least the medium term.” </span></p>
<p><a href="/images/2015/10/27/Screen%20Shot%202015-10-27%20at%2010.39.20%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/27/Screen%20Shot%202015-10-27%20at%2010.39.20%20AM.png" alt=""></span></p>
</body></html>

Mining

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Mining

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News