<p data-end="256" data-start="0"><a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.</p>

<p data-end="446" data-start="258">The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.</p>

<p><img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.</p>

<p>The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.</p>

<p>The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”</p>

<p data-end="626" data-start="350">Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.</p>

<p data-end="928" data-start="628">“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”</p>

<p data-end="1147" data-start="930">Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.</p>

<p data-end="1510" data-start="1149">“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”</p>

<p data-end="1510" data-start="1149"><img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" /></p>

<p>&nbsp;</p>

<p>The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.</p>

<p>Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.</p>
</section>


Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

<p style="text-align:start">The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;</p>

<p>The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.</p>

<p>The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.</p>

<p>Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.</p>

<p>The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.</p>

<p>As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.</p>

<p><img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" /></p>

<p>The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.</p>

<p>Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.</p>

<p>“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.</p>

<p>“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;</p>

<p>Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.</p>

<p>“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.</p>

<p>“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”</p>


Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


400 new homes planned for Adelaide's former West End Brewery site

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Mining

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<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>
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ckusher-ujnxiKuFQs

The lowdown on the mining town slowdown from Gladstone to Karratha

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<p>GUEST OBSERVER </p>
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<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>
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<br>The 5 remaining mega gas projects under construction, with a combined value of $172bn, are due to be completed by end 2017.</div>
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<br>This will see the value of definite mining projects (those under construction or committed) fall sharply, down from $201bn currently.</div>
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<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>
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<br>The other key dynamic, albeit less powerful, is the upswing in public transport projects.</div>
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<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>
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<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>
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<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>
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<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>
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<br>44 new projects were added to the database, with a value of $6.3bn.</div>
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<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>
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<br>Non mining: Publis transport leads the way</div>
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<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>
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<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>
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<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>
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<br>NSW leads the way in public transport projects, with $37bn worth under construction and a further $18.5bn at the committed stage.</div>
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<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>
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<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>
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<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>
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<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>
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<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>
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<br>In Victoria, projects under construction is relatively stable at $27bn, although the projects at the committed stage now stands at $15bn.</div>
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<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>
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jchancellor-FAypfDUnLy

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

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

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<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>
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<div class="separator">Crikey.</div>
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<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>
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pwargent-M4siyDbqQY

Mining crunch stress and house prices

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<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>
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jonathanchancellor-7SQnKwU6yx

Property 101: Residential approvals in NSW regions with mining subsidence

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

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<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>
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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

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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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<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>
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Mining regions struggle: Pete Wargent

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<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>
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<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>
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