What's Hot & Cold in the Australia Property Market
Each week our research team selects some of the hottest updates and news feeds from around Australia reporting on what's driving their property markets and prepares an exclusive snap snot for our members.
We monitor everything from private and public investments to property supply issues that help us determine what area is set to explode and become Australia's hottest property markets .
Whilst the below is a snapshot, if you want to discuss our updates in more detail, please call our office on 02 9917 8600 . We have inserted our research links for each update to give further information on what we are reporting on for each state.
If any members have any questions, please click here and send us your details.
This Weeks What's Hot & What's Not - 10th May 2012
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NSW - “ national 2 speed economy reflected within the state”Here’s a neat little example of the contrast between the investment profiles of Sydney and Newcastle. Sydney in general is a bit of an infrastructure nightmare, with much needed and politically promised improvements such as a north-west rail corridor (or any road enhancements) about a decade away even if committed to now. Newcastle is bristling with growth, with two of its major challenges being rail networks of various sorts and the dysfunctional CBD. Action is taking place on Lower Hunter rail already, and QR National has added to the picture, with its Hexham facility planned for completion in 2 years. |
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QLD - “ massive scale of investment”With Victoria’s budget committing about $1.5 billion this year to infrastructure, how would you compare their numbers with the $80 billion or so committed to industrial infrastructure in and around Gladstone? Let alone that when faced with a 25% hike in the costs of construction, BG Group (led by the same Clive Palmer who was prepared to have a public fight over a couple of million with the A League) have more or less ploughed on regardless and committed to spend the extra $5 billon needed. This sort of story is as good an illustration of how and why Gladstone and Melbourne are poles apart as investment destination |
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WA - “ more flights to Perth”Perth is leading the nation in many categories. Given that we’re discussing infrastructure today, here’s one of our favourite indicators of improving commerce – where airlines choose to send more seats. Anyone who’s been to both Perth and Sydney would marvel at the western capital’s superior road and rail infrastructure (with more coming). Qantas upping the ante really only confirms what we already know. |
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NT - “ high levels of self investment”Here’s a report by Dun and Bradstreet on the budgets handed down last week by the Victorian and NT governments. For the sake of the argument, the numbers for investment are strikingly similar – it’s just that Victoria has about 25 times the population of the NT. ON the principle that you should invest where investments are being made, where would you like to go? |
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VIC - “ infrastructure improvements a decade away”In the big picture, strangled infrastructure is an inhibitor to growth in property markets. Melbourne’s Eastern Freeway tunnel is at least 10 years away, highlighting one of the problems residential property is suffering from in the ‘Garden City’. It’s a bit of “the chicken or the egg” – industry stimulating infrastructure growth or visa versa, and despite, on the face of it, the Ballieu government doing some good stuff, the bottom line is that Victoria is hampered by a lack of industrial growth. |
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ACT - “infrastructure ok, market stalled"Lack of certainty has the reliable Canberra market stalled at the moment, and the announcement of this federal government contribution to the National Capital Authority highlights some of these issues. In Canberra’s case, the small sum contributed here is not a cause for concern in the short term given the capital’s generally sound infrastructure. What it does firmly establish is the pressure to resolve several micro issues, which will potentially be achieved via ACT elections later this year. |
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SA - “ building infrastructure the big challenge”SA’s lack of industry in recent years has lead to infrastructure challenges for the state to participate in and benefit from the emerging resources boom. Olympic Dam is seen as the cornerstone of the mining industry in the state but potential capacity constraints exist, particularly in port and rail facilities. This points to the changing national economy. With the traditional powerhouses of NSW and Victoria being essentially non-mining economies, they are in the (slow) process of being overtaken by the mining driven states and can no longer subsidise what were the weaker economies. SA cannot fund its own infrastructure needs and has promised to make the path easy for private investors. Their challenge is to make sure they deliver. |
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