2011
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2011. Construction Outlook. Breakfast. Victorian Economic Update - Melbourne Construction Outlook Breakfast. Kim Wells MP, Treasurer of Victoria. 27July 2011. Strong population growth…. Source: Australian Bureau of Statistics.

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2011

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2011

Construction Outlook

Breakfast


Victorian Economic Update - Melbourne Construction Outlook Breakfast

Kim Wells MP, Treasurer of Victoria

27July 2011


Strong population growth…

Source: Australian Bureau of Statistics


Victoria remains the national leader in terms of building approvals

Source: Australian Bureau of Statistics


Also reflected in dwelling commencements

Source: Australian Bureau of Statistics


Victoria’s strong home-building performance expected to continue

Source: HIA Economics, October 2011


House prices continue to be flat in recent quarters

Sources: Australian Bureau of Statistics, Real Estate Institute of Victoria and RP-Data-Rismark


Recent volatility in the AUD has led it to fall slightly below parity

Source: Reserve Bank of Australia, as at 30 September 2011


Victoria now has a much more robust and diversified economy and remains resilient

Source: Australian Bureau of Statistics


While the residential sector is flat, the non-residential sector is improving modestly

*Year-on-year growth (3 month rolling sum)Source: Australian Bureau of Statistics


Victorian economic projections

2011-12 Budget projections

*Labour market, consumer price index and wage price index data are actual outcomes for 2010-11

**Covers private and public sector wage rates. Incorporates nominal wage increases for labour of unchanged quality, plus some productivity improvements which cannot be fully measured

Source: Australian Bureau of Statistics, Department of Treasury and Finance


Housing Initiatives


Housing initiatives

  • Government action addressing housing affordability:

  • Land transfer duty for first home buyers was cut by 20 per cent on 1 July 2011

  • First Home Bonus and Regional Bonus extended until 30 June 2012

  • The pensioner and concession card holder stamp duty concession threshold was increased from $440,000 to $750,000, and eligibility extended to holders of a Commonwealth Seniors Health Card

  • Stamp duty exemption for young farmers purchasing their first farmland valued up to $300,000

  • These initiatives have already benefited approximately 3,200 Victorian families since taking effect on 1 July 2011.


Planning Reforms


Planning Reforms

  • Overarching Metropolitan Planning Strategy

  • New outcomes-based Metropolitan Planning Strategy to manage Melbourne’s growth into the future

  • Streamlining Planning Processes

  • Ministerial Advisory Committee to review the Victorian planning system and recommend improvements


Planning Reforms

  • Growth Areas

  • GAIC – deferment and works-in-kind

  • Provide development-ready land

  • Process for Logical Inclusions to the UGB

  • Urban Renewal

  • Established the Urban Renewal Authority to focus on strategic development sites

  • Facilitating other key urban renewal projects


Victorian Economic Update - Melbourne Construction Outlook Breakfast

Kim Wells MP, Treasurer of Victoria

27July 2011


Overview & Analysis of the Australian Construction Industry

Rob Wild

Cordell Information CEO


PROJECTS IN PLANNING


Projects in Planning - National

Number

of

projects

Value

of

projects ($bn)


# of Projects in Planning - Construction Types – National


$(Billions) of Projects in Planning – Construction Types – National


# of Projects in Planning - State


PROJECTS IN CONSTRUCTION


Projects in Construction - National

Number

of

projects

Value

of

projects ($bn)


# of Projects in Construction – Construction Types – National


$(Billions) of Projects in Construction – Construction Types – National


# of Projects in Construction - State


PROJECTS DEFERRED


Deferred Projects - National

Number

of

projects

Value

of

projects ($bn)


# of Deferred Projects – Construction Types - National


$(Billions) of Deferred Projects – Construction Types - National


# of Deferred Projects- State


PROJECTS ABANDONED


Abandoned Projects - National

Number

of

projects

Value

of

projects ($bn)


#of Abandoned Projects – Construction Types - National


$(Billions) of Abandoned Projects – Construction Types -National


VICTORIA


VIC Planning – Construction Types by Financial Year


VIC Construction- Construction Types by Financial Year


VIC Deferred – Construction Types by Financial Year


VIC Abandoned- Construction Types by Financial Year


In summary for Australia – 10/11 v’s 09/10:

Planning20%

Construction20%

Deferred10%

Abandoned55%

Overall, Vic looking pretty good!


  • The Housing 100

  • For 2010/11

  • Graham Wolfe

  • HIA Chief Executive Association


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


HIA-COLORBOND® steel Housing 100 – 2010/11


2011

Construction Outlook

Breakfast


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