Market Update – Residential Starts Increasing

For the residential market the value of starts in Feb were $3.3bn and this is expected to increase and peak in April to $4.6bn providing a dramatic increase in working beginning in the next couple of months.

Construction Starts (value in million $)                                      Forecasted

Jan Feb  Mar Apr May
Residential (Aust) 2,690 3,121 3,395 4,613 3,057
Commercial (Aust) 278 95 1,104 811 195
Total Building 5,952 5,879 6,462 8,293 4,746
QLD Building 1,205 1,509 1,558 2,496 1,219
NSW Building 2,267 1,897 2,050 2,159 1,374

*The Total, QLD and NSW figures include all building categories except civil.

Recent data suggests the Australian economy has been growing faster than many commentators had anticipated. Although this is a big positive, the business community is still reluctant to commit to capital investment with one outcome being a 35.9% decline in the value of non-residential Building Approvals compared with 12 months ago. Recent figures still reflect a healthy residential market and a small number of major civil projects expected to start in the next few months.

Builder Solutions Recent Activity

NSW 
Recently we have taken on many new projects in Sydney and the greater region.  As the industry is very busy builders are being selective on projects they compete for. We can put forward builders with available schedule, with projects soon completing.
Recent Projects
– High end apartments in Cronulla      – Townhouses in Hornsby
– Duplex in Ermington                         – 20 Apartments in Neutral Bay

QLD
Currently we have four projects under construction and three more signed up. We have some outstanding builders in Brisbane and surrounds that have been impressing clients with fast and accurate services in a busy market.
Recent Projects
–  28 Apartments in Mount Gravatt     –  60 townhouses in Toowoomba
–  High End Duplex in Holland Park    –  7 Townhouses in Windsor

VIC
Activity in Melbourne has been high, plenty of medium density and boutique projects being undertaken throughout the state capital. We have highly competitive and specialist builders for this region.
Recent Projects
– Two houses in Wantirna South          – 6 Townhouses in Thornbury
–  Apartments in St Kilda                       – Townhouses Box Hill

 

BUSINESS PARTNERS – BCG assists private property developers in every aspect of a project in order to help de-risk and de-stress all elements of the property development cycle. The ability to assist developers comes from our multi-disciplinary approach where we provide a holistic service for property developers that extends far beyond the normal accounting, taxation and advisory services of a typical accounting firm

 

BUSINESS PARTNERS – At Cameron Chisholm & Nicol our work focuses primarily on providing full or partial architectural services on residential, multi residential, commercial, commercial fit outs and interior design projects. We are comfortable and experienced working on both small and large scale, low and high budget projects for our clients in the private sector.

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