Infrastructure

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<div>Australia has created an extraordinary ~325,000 jobs over the past year, including a boom over the past six months the like of which arguably hasn't been seen in decades. </div>
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<p><br><span>The question is how? And where?</span></p>
<div><span>Greater Sydney (+83k), Melbourne (+59k), and now Brisbane (+46k) have each seen a drive in employment growth over the past year. </span></div>
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<div><span>Greater Sydney now has a monthly unemployment rate of only 4.46 per cent, and the annual average unemployment rate across the harbour city continues to decline, as it has for 3½ years now. </span></div>
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<div><span>That's been partly driven by apartment construction and the associated multiplier effect, and a swathe of infrastructure projects. </span></div>
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<div>Increasingly Hobart is firing up, adding +6k jobs over the year to August 2017, with the median duration of job search continuing to decline. </div>
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<p><br><span>Where else?</span></p>
<div>Gold Coast (+21k) and Sunshine Coast (+12k) have been other contributors to Queensland jobs growth over the past year, presumably driven by tourism, while Toowoomba added a cheeky +5k of new jobs on a net basis. </div>
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<div>Emerging from the resources doldrums, meanwhile, Mackay (+10k) and Townsville (+17k) have clearly turned a corner of sorts lately. </div>
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<div><strong><span style="text-decoration: underline;">Construction still raging</span></strong></div>
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<div>Over the past quarter the greatest employment gains were to be found in construction (+64,600), healthcare &amp; social assistance (+48,000), and education &amp; training (+25,700).  </div>
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<div>Between them these three industries have created net new employment of +263,000 since August 2016, which really is a huge number. </div>
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<div>Alongside tourism, a boom in international students and education has been a shining light of the economy in recent times - at least in terms of quantity, if not quality.</div>
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<div>Offsetting this, some professional services and administrative employment has been scaled back. </div>
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<div>The construction employment surge needs to be viewed in the context of the preceding resources construction boom, which took construction employment to already unprecedented levels. </div>
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<div>And now total construction employment has elevated further - thanks to a combination of residential and infrastructure projects - to 1,168,000. </div>
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<div><strong><span style="text-decoration: underline;"><span>The wrap</span></span></strong></div>
<div><span> </span></div>
<div><span>Sydney's economy is clearly relishing its stamp-duty-funded infrastructure boom.</span></div>
<div><span> </span></div>
<div><span>At the industry level, healthcare &amp; social assistance may well continue its structural uptrend, perhaps eventually accounting for ~15 per cent or more of the entire workforce. </span></div>
<div> </div>
<div>Construction now directly accounts for ~9.5 per cent of Australian employment. This is much more surprising, and it's never been higher.</div>
<div> </div>
<div>This is why, in my opinion, it may pay to be sceptical about all the casual chatter about rate hikes.</div>
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<div>Residential jobs account for about three quarters of total construction industry employment.</div>
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<div>So once the residential building sector inevitably slows over the next year or two, total employment growth could be winching itself down to earth with a big, clumsy thump. </div>
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<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Sydney relishing stamp-duty-funded infrastructure boom

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<p><em>Note: This is the second part of Peter Chittenden's 2015 outlook. </em></p>
<p><em>To read Part 1, <a href="/expert-insights/buying/39090-the-residential-property-outlook-for-the-year-ahead-peter-chittenden" target="_blank">click here</a>.</em></p>
<p>Looking further into prospects for 2015: currently, the collapse of commodity prices is making hard work of local economic policy settings.</p>
<p>An interest rate cut looks to be more firmly on the agenda and employment prospects look shaky. Consumers are hesitant, but there is good news at the petrol bowser.</p>
<p>Beyond these leading factors, the residential market and in particular the demand for new apartment projects may slow at the margins in 2015, while remaining strong in key areas.</p>
<p>While the health of the wider economy will have an impact, there are a number of specific policy areas that will more directly influence demand. These include a review of taxation policy, the delivery of major infrastructure projects and planning policy. The falling dollar may, however, act as an incentive for off-shore buyers. This time last year, the AUS$ to US$ exchange rate was $0.89. Today it’s $0.81. Although this is a four and a half year low, the Reserve Bank has suggested the possibility of a greater fall, with the dollar valued closer to US$0.75.</p>
<p>Looking towards 2015, it appears that everything financial will have an impact on the residential property market.</p>
<p>The influence of lower rates for anyone with a home loan or looking to finance will be positive. However, with more caution now apparent in the market, lower rates are not likely to push up demand and hence prices.</p>
<p>What lower rates will do is make it easier to service loans, and as history shows, people tend to use lower rates to boost their mortgage repayments. Cheaper home loans may help to boost spending in other areas, and so benefit the wider economy. Currently, bad residential mortgage loans are at historic lows, which further reinforces how cautious and conservative this market is.</p>
<p><strong>Henry &amp; Murray</strong></p>
<p>In 2010 we had the Henry Review of the Taxation System. Now we have had the Murray Review of the banking system, and it appears that 2015 will at last be a time to act. The Murray Review was wide ranging, but areas impacting superannuation, competition and the taxation system may hold particular focus for the residential market.</p>
<p>While an increase to the GST does not look to be an immediate prospect, the reality is that an increase in the GST would lead to almost irresistible pressure to reduce other taxes, such as stamp duty, which for NSW has delivered a wind-fall in revenue this year.</p>
<p>Already the Federal Government has signaled such a structural change is not possible, given the state of the Federal budget.</p>
<p>However, the Murray report does create pressure for tax reform, that may well involve changes to negative gearing and how superannuation is taxed. Changes here would impact the residential market. Buyers would, of course, welcome a reduction of stamp duty, but any changes to negative gearing could cause investors some pain.</p>
<p>The growth in self managed super funds, and the flow of funds into property, in part highlight the sensitivity of this sector. There are some concerns that over-regulation could have the long-term affect of reducing the pool of savings people can access in their old age.</p>
<p>I think there is a natural tendency for many people to be anxious to manage the fate of their own investments, and so property will remain a popular choice with this group of retirees.</p>
<p>While the banking and tax systems have been under the spotlight, I wonder if there is room in the housing and development market for even more creative forms of finance?</p>
<p>Peer to Peer lending is a new financial tool that is only starting to emerge with some areas of personal finance. Could such ideas spread to the housing market? Could we one day see a Bitcoin revolution in housing finance?</p>
<p>Outside of these policy areas, supply will remain a key issue, supply in some markets is still to catch up with demand, and so this will keep pressure on prices, but this is not a universal trend. Investors are also less geographically focused on their own backyard, and so capital will flow to the stronger markets.</p>
<p>For developers, another emerging reality is that development sites have increased in value and demand remains very strong and competitive. Eventually, high site costs have to be absorbed into the final cost of apartments delivered to the market.</p>
<p><em>This article continues on the next page. Click below.</em></p>
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<p><strong>Infrastructure &amp; Planning</strong></p>
<p>In 2015, there needs to be an acceleration of infrastructure delivery, moving from what can at times appear to be endless planning.</p>
<p>Major projects are now more visible across Sydney, for example, and urgency might accelerate as both the State Government and Federal Governments look to election in March 2015 and early 2017 respectively.</p>
<p>In any election setting, activity on the ground is what counts. Activity means jobs, and delivery of infrastructure is an important goal as construction investment in the mining industry continues to fall.</p>
<p>However, beyond any political will to accelerate the delivery of infrastructure, the other reality is that values and demand are also impacted as areas associated with these works become more attractive to buyers.</p>
<p>Across Sydney there’s now a growing list of major projects underway including the South West and North West Rail links, the light rail to the Inner West already in operation, and the CBD and East light rail, plus the West Connex. Areas near these projects will see further growth in the demand for project sites.</p>
<p>The NSW state Government has also now released its vision for Sydney in an expansive document,<em> <a href="https://www.strategy.planning.nsw.gov.au/sydney/" target="_blank">A Plan For Sydney</a></em>. The plan includes an important step as it applies to the 41 local government areas and sets up a new body to deliver the vision. Planning issues are always central to the delivery of new homes and apartments, and so it is to be hoped that the policies outlined in the document become a reality.</p>
<p><strong>Quality To Improve</strong></p>
<p>Finance, taxation, infrastructure and government policy are all factors that impact the residential market, but in a more immediate way, there is also a continued trend towards an ongoing improvement in the design and quality of projects.</p>
<p>As buyers approach the apartment market more as a long-term home, and investors also look for quality, we are seeing some inspirational new projects emerge.</p>
<p>This quest for quality and innovation will continue throughout 2015, as will demand for projects with access to established local services and facilities, including transport.</p>
<p>The market in 2015 looks complex than it did this time last year. The current bull run has been with us since mid 2013, so there is a need to remain alert, as possible changes to interest rate settings and taxation policy may yet hold surprises. The resilience of the local economy will be key.</p>
<p><em>To read Part 1 of Peter Chittenden's 2015 outlook, <a href="/expert-insights/buying/39090-the-residential-property-outlook-for-the-year-ahead-peter-chittenden" target="_blank">click here</a>.</em></p>
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My residential outlook for the year ahead: Part 2

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<p class="p1"><span class="s1">Transport infrastructure is an important factor for property investors to consider. But what type of projects typically influence property prices?</span></p>
<p class="p1"><span class="s1">Infrastructure developments typically generate demand for housing and can cause price rises in adjacent suburbs. Sometimes the benefit to an area is obvious, other times only the truly astute investors will realise the flow-on effects. <span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">The value of a locality is based on many things: its proximity to employment centres and amenities is an important factor, as is the beauty and safety of the area. If new transport infrastructure is set to improve upon these factors, it is possible the area will receive a boost in value.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">New infrastructure can include public transport as well as major connecting roads. By interconnecting suburbs people’s perception of distance changes. For instance, if a new road cuts travel time to the city, this might make the suburb much more attractive for commuters.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">The infrastructure projects with the biggest impact are typically projects involving the rail network, new major roads, or significant improvements to existing roads. All these projects have the potential to impact on property values. <span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">If an existing rail line is extended, this can certainly improve the value of outlying suburbs that then no longer have to solely rely on buses and roads.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">While new roads can make an area more accessible, the widening of roads can impact areas by reducing congestion and reducing travel times. Reconfiguring of roads and new bridges can also make a significant change.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">For property investors, it is key to research and keep track of upcoming projects, because the best time to buy in an area is right before they receive the full benefit of the projects, when prices haven’t had a chance to move upwards yet.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">Luckily, the Government plans most of these projects well in advance and the planning documents are typically available to the public. But investors should also keep an ear out for new announcements particularly around election time. <span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">For more insights into how to research the market, grab your FREE copy of our latest ebook: <a href="https://wvw.momentumwealth.com.au/ResearchEbook?utm_source=Property+Observer&amp;utm_medium=Ebook&amp;utm_campaign=Ebooks" target="_blank"><span class="s2">How to find investment-grade properties using professional research principles.</span></a></span></p>
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The importance of infrastructure projects for capital growth

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<p>EXPERT OBSERVATION</p>
<p>The impact of the credit squeeze that caused the rapid deterioration in building conditions over the past 18 months is evident in today’s construction data.</p>
<p>This is the right time in the economic cycle for governments to be investing in infrastructure critical to residential development.</p>
<p>Preliminary figures released by the ABS today provide data on the value of construction work done in Australia.</p>
<p>Nationally, residential construction work has fallen by 10.9 per cent compared to last year. The contraction in homebuilding in today’s figures was anticipated given the decline in other data such as building approvals and housing finance.</p>
<p>More recent data suggests that the decline in residential construction will not continue, with leading indicators showing improvement.</p>
<p>A boost in spending on infrastructure by state and federal governments as announced in this year’s budgets was expected to offset the decline in the home building sector and absorb the excess labour from the building industry. This hasn’t happened with engineering construction work declining by 9.6 per cent on same quarter last year.</p>
<p>For the past five years home building pulled the economy forward. The home building industry is now dependent upon a strong national economy to pull it forward. Infrastructure spending can help drive this growth.</p>
<p>Today’s data - which shows a significant decline in engineering and construction work - tells us that the announced investment in infrastructure has not yet commenced. “</p>
<p>This begs the question where and when is the infrastructure spending going to occur?.</p>
<p>All the states declined for the September 2019 quarter compared to previous quarter.</p>
<p>The notable exception to this decline in residential and engineering work is in Victoria, where new residential work done increased by 1.8 per cent for the quarter to be up by 4.0 per cent annually.</p>
<p>New South Wales declined by 7.8 per cent, Queensland by 4.7 per cent, South Australia by 0.7 per cent and Western Australia by 4.9 per cent.</p>
<p>Tasmania and the ACT which have previously managed to buck the national trend have also declined by 20.5 per cent and 10.9 per cent respectively compared to the June 2019 quarter.</p>
<p><em>ANGELA LILLICRAP is an Economist for HIA</em></p>
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When and where is Australian infrastructure spending coming online: HIA's Angela Lillicrap

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<p><a href="http://petewargent.blogspot.com/2018/10/highway-jobbery">E</a>XPERT OBSERVER</p>
<div>A year ago annual infrastructure project activity was forecast to peak at about $16 billion in 2019.</div>
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<div>But the government has anticipated the slowdown in apartment building and will use borrowed funds to plug the gap. </div>
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<div>Now the peak for infrastructure build is forecast to hit 3 years later and some 40 per cent higher at more than $22 billion across a raft of billion-dollar projects. </div>
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<div>High-rise apartment construction, then, is set to be replaced by roads, rails, tunnels...and the odd level crossing removal.</div>
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<div>The obligatory cost overruns will also help spur the economy, of course.<br><br>The Coalition love is free, and the freeway's long!</div>
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Infrastructure extended by government spending: Pete Wargent

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<p>EXPERT OBSERVER</p>
<p><span>Federal and state political leaders intend to generate an infrastructure-led economic recovery in Australia. And this will turbocharge a residential property boom which is already building across the nation.</span> </p>
<div>Infrastructure spending is always a key driver of growth in residential property markets and government plans to fast-track shovel-ready projects will enhance the established trend of rising markets in many parts of Australia.</div>
<div> </div>
<div>That’s why we created a new report titled “Australia’s Infrastructure-led Property Boom: National Top 10 Hotspots”.</div>
<div> </div>
<div>The research conducted daily by the Hotspotting team places considerable emphasis on infrastructure.</div>
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<div>The best places to invest have impact from infrastructure in two key ways: excellent existing infrastructure (public transport, schools, medical services, retail outlets, etc) and spending on new infrastructure.</div>
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<div>New infrastructure is particularly influential on generating growth in residential property markets. Our belief is that no other factor impacts property markets as strongly as major new infrastructure spending.</div>
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<div>Infrastructure such as new motorways, rail links, hospitals and universities improve the amenity and desirability of the locations directly impacted.</div>
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<div>These projects generate major economic activity and employment – and from that flows demand for real estate.</div>
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<div>From 2013 to 2017 both Sydney and Melbourne had significant real estate booms, but this was not replicated in other parts of Australia. During that period, the markets in Perth and Darwin were in reverse, and those in Brisbane, Adelaide and Canberra were largely stagnating.</div>
<div> </div>
<div>The fundamental difference was the infrastructure spend. Both Sydney and Melbourne were spending tens of billions of dollars on new infrastructure. As a consequence, the economies of the two biggest cities were strong, as a time when the other cities were weak or in decline.</div>
<div> </div>
<div>We have seen major infrastructure spending transform local economies and their property markets in many significant regional cities across Australia. Projects totalling more than $20 billion have transformed the Sunshine Coast from a tourist town to an international city and it currently has one of the strongest property markets anywhere in Australia.</div>
<div> </div>
<div>Newcastle, Geelong and Wollongong are all regional cities which have transitioned by older-style economies based on manufacturing to prosperous modern economies through spending on new infrastructure and the generation of new employment sectors. Growth property markets have emerged from the transition in these places.</div>
<div> </div>
<div>The recent Federal Budget provided evidence that the Australian Government intends the past-pandemic economic recovery to be largely inspired by spending on major projects across the nation. It’s also clear that State Governments are ramping up their spending on roads, rail links and other projects to generate jobs.</div>
<div> </div>
<div>In the new National Top 10 report we highlight ten locations which are poised for growth as a result of big spending on new infrastructure. They include some locations which might now normally blip on the radar screens of property investors, like Toowoomba in Queensland.</div>
<div> </div>
<div>More potential hotspots will emerge as governments firm up their plans and announce start dates for major developments.</div>
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<div>
<strong>Terry Ryder</strong><em><span class="Apple-converted-space"> </span>is the founder of<span class="Apple-converted-space"> </span><a href="http://hotspotting.com.au/">hotspotting.com.au</a><span class="Apple-converted-space"> </span><br><a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a></em>
</div>
<p><em><a href="http://twitter.com/hotspotting">twitter.com/hotspotting</a></em></p>
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Infrastructure boom setting up a property boom: HotSpotting's Terry Ryder

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<p>Property investors and owner-occupiers seeking growth may well cast their eye over a new university campus based within the Westmead Health and Innovation District in Parramatta.</p>

<p>The framework agreement between the NSW Government and the University of Sydney will see the campus built adjacent to the Westmead hospitals and is likely to draw 25,000 students and 2,500 staff by 2055.<br><br>
Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said having a university campus at the core of the Westmead Health and Innovation District will drive innovation and catalyse future growth.</p>

<p>“Having the University at the core of the Westmead Health and Innovation District will help transform the district into a powerhouse of invention, creativity, and commercialisation, and home to world-leading enterprises, start-ups, researchers and students,” Mr Ayres said.</p>

<p>NSW Government’s vision for the District is expected to create more than 20,000 new jobs and contribute an additional $2.8 billion of economic output per year to the NSW economy.</p>

<h2>Developments Nearby</h2>

<h2><a href="https://www.urban.com.au/new-apartments/kew-schofields-stage-2--georgette-23-27-schofields-road-schofields">Georgette Schofields</a></h2>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kew_georgetta.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="340" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/kew_georgetta.jpg?itok=hpMOY12m" width="580"></a></p>

<p>Within a commutable distance to the new precinct is the <a href="https://www.urban.com.au/new-apartments/kew-schofields-stage-2--georgette-23-27-schofields-road-schofields">low-rise residential development Kew Schofields</a>, in one of Sydney's newest and fastest growing suburbs.</p>

<p>A short 30-minute drive from the Westmead Health and Innovation District, <a href="https://www.urban.com.au/new-apartments/kew-schofields-stage-2--georgette-23-27-schofields-road-schofields">Kew Schofields Stage 2, Georgette</a>, has prices starting at $428,000 with its completion set for late 2021.</p>

<p>There are 137 residences across the five level building.</p>

<p>Buyers can save up to $60,000 buying in to the development with current NSW Government stimulus packages for new build property.</p>

<p>The whole of the masterplan Kew Schofields, slated to be completed by 2022, will have 2,700 sqm of retail space, parks and recreation facilities.</p>

<h2><a href="https://www.urban.com.au/new-apartments/180-george-street-parramatta">180 George Street Parramatta</a></h2>

<p>Harry Triguboff's Meriton have a high-rise under construction in the heart of Parramatta, heralded as Parramatta's tallest residential tower.</p>

<p>Prices start from $502,000 for apartments in <a href="https://www.urban.com.au/new-apartments/180-george-street-parramatta">180 George</a>, designed by architecture firm Woods Bagot. It will home 761 apartments and is expected to be finished by December 2021.</p>

<p><img alt="" height="1015" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/180_george_2.jpg" width="2000"></p>
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The new university campus in Parramatta will likely attract investors and owner-occupiers to its nearby suburbs

Joel Robinson

Property investors and owner occupiers interested in areas around new University campus in Parramatta

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<p>Mirvac and Victoria Investments and Properties’ master-planned community, Woodlea, has delivered the final phase of its $50 million Taylors Road project.</p>

<p>The final phase of the 2.6 kilometre stretch of road was developed as part of a ‘Works in Kind’ development contribution agreement with Melton Council in order to give back to the rapidly growing community. The infrastructure is expected to support the economic, social and environmental needs of Melbourne’s expanding fringe suburbs.</p>

<p>Connecting suburbs such as Caroline Springs, Taylors Hill and Plumpton, the project offers five-minute direct access to adjoining suburbs, as opposed to a 30-minute round trip. Upon completion, Taylors Road is expected to carry approximately 30,000 vehicles per day.</p>

<p>Located in Melbourne’s Western growth corridor, Woodlea is a fully-integrated master-planned community, set to home over 20,000 residents upon completion. Currently, 7,000 residents live in the new community. </p>

<h2><strong>Other new developments in Melbourne’s west</strong></h2>

<p>Melton has become one of Australia’s fastest-growing regions with first home buyers entering the affordable market in droves.</p>

<p>The new Taylors Road project is likely to further encourage a migration west with increased employment opportunities and new infrastructure and services thanks to Mirvac’s Woodlea. Here are two developments in suburbs surrounding Melbourne’s growing west:</p>

<p><strong>1. Aspect, Keilor Downs</strong></p>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/aspect-7b-copernicus-way-keilor-downs-777b36168e6fd96969b797f0453b7d99.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/aspect-7b-copernicus-way-keilor-downs-777b36168e6fd96969b797f0453b7d99.jpg?itok=7VchP_CO" width="580"></a></p>

<p>Located in Keilor Downs, Aspect offers 99 two, three and four-bedroom townhouses, delivering a luxurious, low-maintenance lifestyle. Aspect includes custom joinery, composite stone benchtops and stainless steel Smeg appliances.</p>

<p>The homes, priced from $565,000 for a two-bedroom, two-bathroom residence, offer private landscaped gardens, a secure single garage and architecturally-designed facades by Rothelowman.</p>

<p><strong>2. St. A, St Albans</strong></p>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/st.a_v02_intersection_street-padley-st.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="232" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/st.a_v02_intersection_street-padley-st.jpg?itok=QdojVJA6" width="580"></a></p>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sta-10-mckechnie-street-st-albans-9d1abe1b454fe77398ed1c690a5cfdf6.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/sta-10-mckechnie-street-st-albans-9d1abe1b454fe77398ed1c690a5cfdf6.jpg?itok=RTBsbdAb" width="580"></a></p>

<p>Designed by DKO Architecture, Cedar Woods offers luxurious living in their most recent project, St A. A collection of 254 two, three and four-bedroom townhomes, the project includes modern kitchens, six-star energy rating and double glazed windows.</p>

<p>Just 16-kilometres from Melbourne CBD, St A is situated within walking distance to St Albans station and nearby the Ginifer train station.</p>
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The new Taylors Road project is likely to further encourage migration into Melbourne's west with increased employment opportunities and new infrastructure

max.kwok_55688

Woodlea fast track $50 million Taylors Road infrastructure project

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<p>Plans to slash travel times for drivers and public transport commuters in Sydney’s north have taken a major step forward with the Beaches Link Environmental Impact Statement (EIS) released today. </p>

<p>Premier Gladys Berejiklian said the mega-project will include twin tunnels under Middle Harbour with three lanes in each direction, allowing commuters to avoid peak hour congestion on the Spit Bridge, Military Road and the Roseville Bridge. </p>

<p>“Beaches Link will transform the way people move to and from the Northern Beaches, bypassing 19 sets of traffic lights through The Spit, Mosman and Neutral Bay and help save up to 56 minutes between Dee Why and Sydney airport,” Ms Berejiklian said.</p>

<p>Residents in Neutral Bay, Mosman and Cremorne are set to benefit from the new tunnels, with less congestion and noise and traffic volumes expected to reduce by around a third along Spit Road.</p>

<p><img alt="" height="1495" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beaches_link_render_2.jpg" width="2000"></p>

<p>Ms Berejiklian says the Western Harbour Tunnel and Beaches Link program is expected to support around 15,000 full-time jobs.</p>

<p>Minister for Transport and Roads Andrew Constance said the project will integrate with new and existing public transport connections.</p>

<p>“There will be the opportunity for new express bus services to key centres including St Leonards, Macquarie Park, North Sydney and Sydney CBD, and direct access to North Sydney to interchange with the new Sydney Metro,” Mr Constance said.</p>

<p>“We’re also planning more than five kilometres of new cycle and pedestrian pathways, including links to the Northern Beaches Hospital precinct.</p>

<p>“This is the next stage of the consultation process, giving the community another opportunity to have its say.</p>

<p><img alt="" height="1323" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beaches_link_render_3.jpg" width="2000"></p>

<p>“Transport for NSW has adapted its community engagement in line with current health advice regarding COVID-19, and will be providing enhanced online engagement with virtual information sessions throughout January and February.</p>

<p>“We’ll also work closely with locals in Balgowlah, where we’ll be returning an area equivalent to around 90 per cent of the current open space to the community. Further consultation will be held with the community on open space in Balgowlah later in 2021.”</p>

<p>The tunnel will be up to 108 metres in depth (approximately 33 storeys) and include new connections on the Gore Hill Freeway at Artarmon, Warringah Freeway at Cammeray and direct access onto Burnt Bridge Creek Deviation at Balgowlah and Wakehurst Parkway at Seaforth.</p>

<p>The Wakehurst Parkway will be widened from one lane to two in each direction between Seaforth and Frenchs Forest.</p>

<h2><strong>Sydney properties selling now:</strong></h2>

<p>[smartcode_project:default project_id=21618]</p>

<p>[smartcode_project:default project_id=7619]</p>

<p>[smartcode_project:default project_id=7758]</p>
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The mega-project will include twin tunnels under Middle Harbour with three lanes in each direction.


urban.com.au

Northern Beaches set to boom with Beaches Link announcement

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<p>Sweeping changes have been proposed to NSW's infrastructure contributions system.</p>
<p>It follows a new report from the NSW Productivity Commission to be considered by the NSW Government Minister for Planning and Public Spaces Rob Stokes and Treasurer Dominic Perrottet.</p>
<p>They welcomed the report which lays out a roadmap for "the biggest shake-up to the contributions regime in three decades."</p>
<p>Stokes said he commissioned the review into the system to fix uncertainty of developer contributions, unlock new housing supply, deliver infrastructure and drive investment. </p>
<p>“The development industry has been telling us for years that uncertainty surrounding infrastructure contributions was driving up house prices and slowing down progress,” Mr Stokes said.</p>
<p>“Those who complain about growth in Sydney often have the same gripe - too much housing, not enough infrastructure. This report recommends a complete shift in thinking, where land rezoning, infrastructure planning and funding is considered together at the start of the process.</p>
<p> “If the changes in this new report are implemented, these barriers will be removed and development will be coordinated with the right infrastructure.”</p>
<p>Productivity Commissioner Peter Achterstraat’s comprehensive review of the system makes 29 recommendations, including:</p>
<ul>
<li>         Changing the funding mix for more efficient infrastructure delivery;</li>
<li>         Linking council rates more closely with population growth;</li>
<li>         Developing a digital tool for calculating infrastructure contributions;</li>
<li>         Ensuring infrastructure contributions plans are in place upfront during the rezoning process;</li>
<li>         Supporting better open space provision through a system for the direct land dedication following re-zoning;</li>
<li>         Reforming state contributions so funding goes where infrastructure is required.</li>
</ul>
<p> </p>
<p>Perrottet said the long-term benefits of boosting productivity was vital for NSW and the state’s recovery from the economic impacts of COVID-19 </p>
<p>“This is ultimately about providing greater certainty for all parties, ensuring better infrastructure for the community and unlocking more than $12 billion for our economy.”</p>
<p>The Treasurer said $14.8 million was allocated in the recent 2020-21 NSW Budget for the development of a contributions calculator, which would make it easier to determine project development costs at the start of the process. </p>
<p>The Government will now review the report’s recommendations and consult with industry to develop a formal Government response and roadmap for implementation by early 2021.</p>
<p>To read the report visit <a href="https://protect-au.mimecast.com/s/TbccC81V1xhDE1YNtn6Rua?domain=productivity.nsw.gov.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/TbccC81V1xhDE1YNtn6Rua?domain%3Dproductivity.nsw.gov.au&amp;source=gmail&amp;ust=1607030959064000&amp;usg=AFQjCNEH9uicyt8Hol7vQxlB1H5FQLj-qQ">http://productivity.nsw.gov.au/infrastructure-contributions-review</a></p>
<p>The Urban Taskforce identified the key recommendations and outcomes in the report as: </p>
<p>▪ removing the disincentive for councils to accept development and growth by allowing for the local government rate peg to reflect population growth</p>
<p>▪ ensuring charges can be properly factored into feasibility studies by requiring contributions plans be developed prior to rezoning</p>
<p>▪ introducing a direct land contribution obligation for landowners following rezoning to provide early and adequate funding for land</p>
<p>▪ managing costs and complexity of section 7.11 local contributions plans by using benchmark costs and focusing the role of the Independent Pricing and Regulatory Tribunal in reviewing plans</p>
<p>▪ removing barriers to construction and improving project feasibility by deferring payment of local contributions to the occupation certificate stage</p>
<p>▪ providing a simpler option for councils by increasing the maximum rate of section 7.12 fixed development consent levies to 3% in certain circumstances</p>
<p>▪ limiting the use of state and local planning agreements to direct delivery of works and supporting infrastructure for ‘out-of-sequence’ developments</p>
<p>▪ addressing insufficient and ad hoc section 7.24 special infrastructure contributions (State Government infrastructure levies) through implementation of modest and simple broad-based regional charges</p>
<p>▪ ensuring the beneficiaries of major transport investments contribute to the cost by implementing an additional state contribution for rezoned properties within station service</p>
<p>catchments</p>
<p>▪ taking pressure off household water bills by transitioning to cost reflective charges for water connections</p>
<p>▪ making the system easier to navigate and comply with by providing and maintaining clear and rationalised guidance and comprehensive digital tools</p>
<p>▪ being more transparent in reporting on how much money is collected and where it is spent.</p>
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