First-home buyer enquiry surges as buyers navigate the COVID-19 market
Australia’s real estate industry has been put to the test in 2020, and while the coronavirus pandemic has forced the sector to slow down, first-home buyers are doing the opposite. WATCH VIDEO HERE – COVID-19: The surge in first home buyer activity Since the beginning of the year, we have seen a surge in first-home […]
Millennials Making Big Move to Regions
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 […]
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 […]
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 […]
2020 Property Market Recovery ‘Fastest Ever’: Corelogic
Australia’s housing market looks set to make a full recovery by April after reaching its bottom last year, with the latest market research showing owner-occupiers lead the charge. National dwelling values bottomed out 8.4 per cent below their peak in June 2019, with the market since recovering 6.7 per cent. While most recovery periods match the […]
Western Sydney Airport Bridge Completes Construction
A new bridge at Western Sydney Airport, as wide as Sydney’s Harbour Bridge at 49 metres, marks the completion of the first phase of construction on the new airport at Badgerys Creek. The bridge to Badgerys Creek, which opened on Monday, was built as part of initial earthworks on the Airport site. Stage one of construction […]
House Price Rebound Gives the Reserve Bank Pause
The Reserve Bank has decided to hold the cash rate steady at 0.75 per cent despite growing expectations of further rate cuts over coming months. The rate remained unchanged from the record low in October 2019, which was largely anticipated by market analysts. RBA governor Philip Lowe said the global economic outlook remained reasonable. “There […]
Work to Kick Off on $150m Sydney Opera House Upgrade
Work is soon to begin on a $150 million upgrade of the Sydney Opera House’s 2,500-seat concert hall, the largest project in the venue’s multi-million-dollar “decade of renewal” capital works program. The NSW government-funded refurbishment will take up to two years to complete, and is part of a 10-year capital works program totalling more than […]
New Public Square for Sydney’s Circular Quay
A new public square, plaza building and public artwork forming part of the major revitalisation of Sydney’s Circular Quay will be designed by international architect David Adjaye of Adjaye Associates and contemporary Aboriginal artist Daniel Boyd. The new plaza building is being delivered as part of Lendlease’s Sydney Place development at 180 George Street. The […]