Regional Australia attracted more people than it lost to capital cities during the last census, reveals a new report, which also found Sydney lost more millennials to the regions than it gained between 2011 and 2016. Regional Australia Institute’s “Big Movers” report examines how Covid-19’s aftershocks may affect regional population trends, as a growing number…
Infrastructure Construction Key to Economic Recovery: Moody’s
The rapid progression of large, shovel-ready, infrastructure projects could lead to new investment by the private sector, Moody’s Investors Service says. While spending on infrastructure construction is important to state government plans, Moody’s says a “coordinated approach with the private sector is likely”, given that the states are already facing rising debt and record infrastructure spending…
Western Sydney Airport Metro Rail Gets Green Light
Construction work on a metro line connecting to the Western Sydney Airport at Badgerys Creek will be brought forward following an injection of $3.5 billion. Prime minister Scott Morrison yesterday, along with NSW premier Gladys Berejiklian and NSW transport minister Andrew Constance, said the project would be fast-tracked and serve as an important initiative for…
Development Cycle Returning to Undersupply: CBRE
Strong price growth has returned to Sydney and Melbourne and is expected to spread to more affordable Brisbane, according to CBRE research. While the devastating coronavirus outbreak has cast a shadow over the economy in the opening months of this year, CBRE’s 2020 market outlook report says Australia’s residential markets have, to date, started the…
Apartment Supply Shortage to Hit by 2022
Slumping numbers of new apartments under construction could force an undersupply by 2022, property advisory group Charter Keck Cramer has forecast. The demand-supply imbalance, according to Charter Keck Cramer’s quarterly state of the market, is largely due to population growth and anaemic construction activity. In Australia’s biggest cities prices have strongly rebounded, with Melbourne lifting by 1.2 per cent over January,…
Major Infrastructure Projects Kicking Off Development
Population growth, congestion in capital cities, transport and arterial roads, as well as the need to improve regional connectivity has continued to drive record levels of spending on major infrastructure projects across Australia. More than $123 billion of construction work has commenced since 2015, with a committed forward pipeline of more than $200 billion aiming to build…
