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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

Construction Outlook

Breakfast


Victorian economic update melbourne construction outlook breakfast

Victorian Economic Update - Melbourne Construction Outlook Breakfast

Kim Wells MP, Treasurer of Victoria

27July 2011


Strong population growth
Strong population growth…

Source: Australian Bureau of Statistics


Victoria remains the national leader in terms of building approvals
Victoria remains the national leader in terms of building approvals

Source: Australian Bureau of Statistics


Also reflected in dwelling commencements
Also reflected in dwelling commencements approvals

Source: Australian Bureau of Statistics


Victoria s strong home building performance expected to continue
Victoria’s strong home-building performance expected to continue

Source: HIA Economics, October 2011


House prices continue to be flat in recent quarters
House prices continue to be flat in recent quarters continue

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
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
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
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
Victorian economic projections sector is improving modestly

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 sector is improving modestly


Housing initiatives1
Housing initiatives sector is improving modestly

  • 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 sector is improving modestly


Planning reforms1
Planning Reforms sector is improving modestly

  • 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 reforms2
Planning Reforms sector is improving modestly

  • 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 breakfast1

Victorian Economic Update sector is improving modestly- Melbourne Construction Outlook Breakfast

Kim Wells MP, Treasurer of Victoria

27July 2011


Overview analysis of the australian construction industry

Overview & Analysis of the Australian Construction Industry sector is improving modestly

Rob Wild

Cordell Information CEO


Projects in planning

PROJECTS IN PLANNING sector is improving modestly


Projects in planning national
Projects in sector is improving modestlyPlanning - National

Number

of

projects

Value

of

projects ($bn)


Of projects in planning construction types national
# of Projects in sector is improving modestlyPlanning - Construction Types – National


Billions of projects in planning construction types national
$(Billions) sector is improving modestlyof Projects in Planning – Construction Types – National


Of projects in planning state
# of Projects in sector is improving modestlyPlanning - State


Projects in construction

PROJECTS IN CONSTRUCTION sector is improving modestly


Projects in construction national
Projects in sector is improving modestlyConstruction - National

Number

of

projects

Value

of

projects ($bn)


Of projects in construction construction types national
# of Projects sector is improving modestlyin Construction – Construction Types – National


Billions of projects in construction construction types national
$(Billions sector is improving modestly) of Projects in Construction – Construction Types – National


Of projects in construction state
# of Projects sector is improving modestlyin Construction - State


Projects deferred

PROJECTS DEFERRED sector is improving modestly


Deferred projects national
Deferred sector is improving modestly Projects - National

Number

of

projects

Value

of

projects ($bn)


Of deferred projects construction types national
# of sector is improving modestlyDeferred Projects – Construction Types - National


Billions of deferred projects construction types national
$(Billions sector is improving modestly) of Deferred Projects – Construction Types - National


Of deferred projects state
# of sector is improving modestlyDeferred Projects- State


Projects abandoned

PROJECTS ABANDONED sector is improving modestly


Abandoned projects national
Abandoned sector is improving modestly Projects - National

Number

of

projects

Value

of

projects ($bn)


Of abandoned projects construction types national
#of sector is improving modestlyAbandoned Projects – Construction Types - National


Billions of abandoned projects construction types national
$(Billions) of sector is improving modestlyAbandoned Projects – Construction Types -National


Victoria

VICTORIA sector is improving modestly


Vic planning construction types by financial year
VIC sector is improving modestlyPlanning – Construction Types by Financial Year


Vic construction construction types by financial year
VIC sector is improving modestlyConstruction- Construction Types by Financial Year


Vic deferred construction types by financial year
VIC sector is improving modestlyDeferred – Construction Types by Financial Year


Vic abandoned construction types by financial year
VIC sector is improving modestlyAbandoned- Construction Types by Financial Year


In summary for Australia – 10/11 sector is improving modestlyv’s 09/10:

Planning20%

Construction20%

Deferred10%

Abandoned55%

Overall, Vic looking pretty good!


  • The sector is improving modestlyHousing 100

  • For 2010/11

  • Graham Wolfe

  • HIA Chief Executive Association


Hia colorbond steel housing 100 2010 11

HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 111
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 112
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 113
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 114
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 115
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 116
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 117
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 118
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 119
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 1110
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 1111
HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


Hia colorbond steel housing 100 2010 1112

HIA-COLORBOND sector is improving modestly® steel Housing 100 – 2010/11


2011 sector is improving modestly

Construction Outlook

Breakfast


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