Connect with us

Infrastructure

MONDAY PROPERTY: Units drive building growth

Published

on

unit building

Brisbane’s number of unit buildings increased more than half over the past 12 months and considered to have a significant shift in comparison to 10 years ago.

RECORD home unit building approvals are driving an increase in the total number of dwellings across Queensland.

The number of home unit approvals has more than doubled in the past decade. This surge has been driven by activity across Brisbane, the Gold Coast and Sunshine Coast.

The figures come on the back of data from the Australian Bureau of Statistics showing home loan demand remains strong, with a 1.2% jump in the number of dwelling commitments approved throughout February.

unit buildingIn Brisbane the number of unit building approvals reached 58% of total dwelling approvals over the past 12 months, while on the Gold Coast the figure was 55%, and on the Sunshine Coast it was 38%.

The statewide figure is 47% of the total approvals over the past 12 months.

Master Builders deputy executive director Paul Bidwell said this was a significant shift in comparison to 10 years ago when the number of unit building approvals was only 29% of total approvals in Queensland.

“South-East Queensland is going gang-busters, even though the regions are languishing, and that is in line with what our members are saying,” Mr Bidwell said.

“The increase in the unit figures can be attributed to the demand in investor sales and a desire for a lifestyle close to shops, transport and other amenities.”

The regional dwelling approvals for February 2015 show Queensland-wide approvals rose by 12.6% on the previous year.

However, it is the regional figures that tell the true story of building activity.

Brisbane, Gold Coast and Sunshine Coast all continue their strong run, with the Gold Coast recording an exceptional 59% increase over the past 12 months, Brisbane 20.3% and the Sunshine Coast 21.7%.

February also brought a 23.1% increase on the Sunshine Coast over the previous month.

That tends to indicate the fall in the $A compared to the $US from above $1 to high the 70 cent range as being a benefit to the international tourist market and part of the reason why south-east Queensland as well as Cairns is travelling well. The Darling Downs, Wide Bay and North Queensland which were performing strongly are now flat as the effects of the reduction in mining investment continue to spread.

CommSec chief economist Craig James said while financial approvals were up across Australia, the number was skewed by people refinancing to take advantage of the low interest rates.

The value of investment loans fell by 3.5% in February.

Mr James said it seemed that potential home investors were taking heed of the Reserve Bank’s warnings on over-leveraging in a low interest rate environment.

If this continue, Brisbane  home loan demand will remain strong.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Infrastructure

First look at new university campus north of Brisbane

Published

on

sunshine coast

Builders have started hauling heavy machinery into Petrie, as construction commences on the University of the Sunshine Coast’s new campus.

When completed, the multi-storey building will boast a large lecture theatre, an auditorium and a number of teaching rooms.

It will accommodate 1200 students studying up to 50 courses including business, education and computer sciences.

“There’s some quite innovative spaces inside the building,” Greg Baumann, from building company Hansen Yuncken, said.

sunshine coast

Construction at the site has officially begun. (9NEWS)

Positioned next to the Petrie train station, the new campus will slash travel times for thousands of students who live between Brisbane and the Sunshine Coast.

Vice-Chancellor, Professor Greg Hill said the lack of university locations north of the city has seen up to 1500 students travel from the Moreton Bay area to the Sunshine Coast campus every week day.

“Moreton Bay is one of Queensland’s fastest growing regions, but has been the only region of its size in Australia without its own full-service university campus,” Professor Hill said.

“You have a better chance of finding a young person with a degree in outback Northern Territory, than you do in Caboolture.

“It’s an outstanding statistic, and we’re going to do something to fix it.”

sunshine coast

An artist’s impression of the new campus. (Supplied)

The new campus has the full support of the Moreton Bay mayor, who described the development as “well overdue”.

“This is just fantastic for the future of the young people of the Moreton Bay region” Allan Sutherland said.

“There are a lot of families here that just never even envisaged that they would end up going to university. All that is about to change.”

The foundations should be finished by early next year, with the university expected to open its doors ahead of Semester 1 in 2020.

Source:www.9news.com.au

Continue Reading

Infrastructure

Queensland’s $46 Billion Infrastructure Boom

Published

on

Queensland’s $46 Billion Infrastructure Boom

The Palaszczuk Government has released an update to its 2018 State Infrastructure Plan as it aims to roll-out a total of $45.8 billion worth of infrastructure over the next four years.

The second part of its State Infrastructure Plan (SIP) focuses on a range of infrastructure spending with its updated release, outlining the $11.6 billion of infrastructure investment to be rolled out in 2018-19, which aims to support up to 38,000 jobs.

Economic forecaster Deloitte Access Economics said that the outlook for engineering construction in Queensland is better than it has been for some time.

“Rather than wallowing in cash from a strong property market and asset privatisations as NSW and Victoria are, the Government is relying more heavily on raising new tax revenue and increasing debt to fund this infrastructure,” Deloitte’s quarterly Business Outlook report said.

Up to 65 per cent of the Queensland’s infrastructure budget is allocated outside of the greater Brisbane area, explained Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick.

“Programs like the Queensland Transport Roads and Investment Program 2018-19 to 2021-22 outlines $21.7 billion in transport and road infrastructure over the next four years, estimated to support an average of 19,200 direct jobs over the life of the program.

Queensland’s $46 Billion Infrastructure Boom

The $5.4 billion Cross River Rail project, the biggest state funded infrastructure commitment in more than a decade, will be delivered in partnership with the private sector, explains Dick.

Infrastructure Association of Queensland chief executive Steve Abson said the infrastructure investment strategies update provides the private sector with confidence to invest in their Queensland operations.

With it now required to be “actioned collaboratively by all levels of government and the private sector”.

Seven new projects have been added to the Building Queensland (BQ) infrastructure pipeline, including upgrades to the centenary motorway and Sunshine Motorway, and a third track to be added to the Gold Coast rail line between Kuraby and Beenleigh.

Queensland’s $46 Billion Infrastructure Boom
Seven new projects have been added to the Building Queensland infrastructure pipeline, including a third track on the Gold Coast railway line to be further investigated

BQ Infrastructure Pipeline Report which presents priority infrastructure proposals under development by the Queensland government, shows 18 proposals from the pipeline has received funding commitments from state government since June 2016.

These include upgrades to the M1 from Eight Mile Plains to Daisy Hill, and Varsity Lakes to Tugan, the Beerburrum to Nambour Rail Upgrade, the Lower Fitzroy River Infrastructure Project and the New Performing Arts Venue.

A rise in interstate migration is seeing more people moving to Queensland, according to the Deloitte’s Business Outlook report, which says the sunshine state now has the third-fastest rate of population growth behind Victoria and the ACT.

The report said that Queensland is “well and truly” through the worst of its mining construction downturn as eye-watering house prices south of the border are sending more “economic refugees north to Queensland”.

Source: brisbaneinvestor.com.au

Continue Reading

Infrastructure

Budget delivers more record road spending for the Sunshine Coast and Moreton Bay areas

Published

on

Budget delivers more record road spending for the Sunshine Coast and Moreton Bay areas

The Palaszczuk Government will deliver $509.7 million in 2018-19 for the North Coast district as part of another record investment in road and transport infrastructure for the third year in a row.

Transport and Main Roads Minister Mark Bailey said the district was one of the many beneficiaries of the blockbuster roads budget being delivered under the Queensland Transport and Roads Investment Program (QTRIP).

“Funding for the Sunshine Coast and Moreton Bay area is part of the Queensland Government’s record spend on road and transport infrastructure across the state for the third year running, with an investment of about $21.7 billion over the next four years,” Mr Bailey said.

“This will include $2.917 billion of works planned just for this area alone, over the next four years, supporting an average of 2689 direct jobs.

“Continuing works on the Bruce Highway and other key links around the Sunshine Coast and Moreton Bay are the main focus.

“We’re also looking to get cars off the Bruce, and Sunshine Coast commuters will benefit from $160.8 million Queensland Government funding for the Beerburrum to Nambour rail upgrade, which will support an average of 312 jobs per year over the life of the project, with design work getting underway in 18-19.

Mr Bailey said major projects for the North Coast district in 2018-19 included:

–     Bruce Highway Upgrade Project, continue widening of the highway from four to six lanes between Caloundra Road to Sunshine Motorway and upgrading the interchanges for a total cost of  $812.9 million (2018-19 $200 million)

–     Bruce Highway, continue installing safety barriers along the highway between Beerburrum and Cooroy for a total cost of $79.8 million (2018-19 $42.5 million)

–     Burpengary Caboolture Road (locally known as Morayfield Road) and Beerburrum Road Route Safety project, start work on safety treatments along these sections between the Bruce Highway and D’Aguilar Highway overpass for a total cost of $28.8 million (2018-19 $8 million)

–     Continue upgrades to improve access to the Sunshine Coast University Hospital for a total cost of $22 million (2018-19 $4.8 million) with works starting on a third package to improve capacity at Nicklin Way between Main Drive and Waterview Street and provide access from Production Avenue to Kawana Way

–     Caboolture Connection Road Route Safety Strategy, continue safety improvements along various locations on Caboolture Connection Road between the Bruce Highway and D’Aguilar Highway for a total cost of $7.6 million (2018-19 $3.7 million)

“We are also providing $3.7 million in 2018-19 through the 50:50 Transport Infrastructure Development Scheme (TIDS) to support councils to develop the local transport infrastructure they need,” he said.

Mr Bailey said this budget showed the Palaszczuk Government’s ongoing commitment to delivering key infrastructure and creating jobs for the people of Queensland.

“The Palaszczuk Government’s investment in roads, rail, marine, passenger transport and active transport infrastructure is estimated to support about 19,200 direct jobs, on average, over the life of the four-year program,” he said.

Source: mysunshinecoast.com.au

Continue Reading

Make Your Super Work

smsf property investment smsf borrowing

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

investment property calculator successin property

Trending