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Sydney Construction Boom Nearly Here; Construction growth of 15% is forecast in NSW over next two years
Topic Started: 8 Aug 2011, 12:56 PM (51,178 Views)
Frank Castle
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Business As Usual

NotFooled
2 May 2012, 10:14 AM
It must be hard to be aware with your head up your butt :lol
He would be aware that he is full of shit :D
Ignore posts by The Whole Truth · View Post · End Ignoring
The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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nofriends
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LOL construction boom -10% new homes.

Showing people's true colours
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schooner
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Frank Castle
2 May 2012, 10:42 AM
He would be aware that he is full of shit
Who Shadow...
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earthsta
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Shadow
2 May 2012, 09:40 AM
So, there's been an undersupply of houses in Sydney, yet prices still fell.

Be interesting to see what will happen when they increase supply. Sounds like a rout in progress :tu:
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Ex BP Golly
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schooner
2 May 2012, 11:17 AM
Who Shadow...
Its going to be very interesting. BOF govt is talking about fast tracking 90000 new homes, but it appears that not many of the developers are as"shovel ready" as they said they were.

They have probably got use to being lazy under the labor admin, just getting rich by flogging of da approved land banking sites, which each rely on new concessions every time they are passed up the chain to make them profitable.

I can see a whole lot of pain for those holding these parcels should the Libs fundamentally change the way development proceeds!

But as to the undersupply...... If this was the case, how come all of those empty buildings I pass in sydney all the time aren't packed to the rafters with squatters?

Sure you have a handful of statement making uni students, but mums and dads on the st, I aint seeing that!
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Jacks money
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its really good to look back a couple of years on the forum to see what "predictions were made" and by who ... for my viewing I was thinking BIS scrapnel is giving scrap reports ...
It’s not getting any smarter out there. You have to come to terms with stupidity, and make it work for you - Frank Zappa
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Rastus2
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earthsta
2 May 2012, 02:30 PM
So, there's been an undersupply of houses in Sydney, yet prices still fell.

Be interesting to see what will happen when they increase supply. Sounds like a rout in progress :tu:
lol,

Do you get it yet ?

Construction boom means prices to boom... yay

Constructions slump means prices to boom.. yay

Prices fail to boom means prices (yet) to boom.. yay.

How is Shadow's prediction going ?


As franky just said earlier in this thread ...

Quote:
 
He would be aware that he is full of shit

Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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Admin
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Barry O'Farrell's big cash to build houses across NSW

Andrew Clennell
The Daily Telegraph
June 09, 2012 12:00AM

THE state's lagging housing market will get a much-needed kick start, with the O'Farrell government extending stamp duty concessions to entice homebuyers.

As the Big Four banks yesterday finally passed on interest rate cuts, Treasurer Mike Baird said he would provide developers with a $200 million budget sweetener to build properties in growth areas on Sydney's fringe.

Stamp duty concessions for people who buy off-the-plan units or house-and-land packages will be extended and hundreds of millions of dollars will go towards an infrastructure fund to get homes built.

Mr Baird is expected to announce in Tuesday's state budget that an initial two-year scheme to axe stamp duty for people buying off-the-plan - up to $600,000 - will be extended indefinitely, with the stamp duty threshold lifted to at least $650,000.

There is a trade-off. Homebuyers will receive concessions of only between 25 per cent and 50 per cent of stamp duty. The new home concession had been due to expire on June 30.

It can also be revealed that about $200 million will flow into a special fund to encourage developers to build homes in the northwest and southwest growth centres of Sydney.

The move is part of attempts to get the economy moving through the property market.

Read more: http://www.dailytelegraph.com.au/news/sydney-news/barry-ofarrells-big-cash-to-build-houses-across-nsw/story-e6freuzi-1226389483647
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Baird’s cash splash for housing

NSW Treasurer Mike Baird has used his second budget to kick-start the state’s lacklustre home building industry and boost infrastructure spending through asset sales, while promising deep cuts to rein in a deficit in the new financial year.

The centrepiece of the O’Farrell government’s budget, delivered on Tuesday, is a package to encourage new housing developments, including a $5000 “New Home Grant” for all non-first home buyers of new properties.

An existing handout for all first home buyers will be scrapped and redirected to funding a more than doubling of the grant for buyers of new homes.

“We will end up with the most generous home buyers scheme in the country,” Mr Baird said on Tuesday.

Read more: http://afr.com/p/national/baird_cash_splash_for_housing_xDEsYDehWJP9BimBYq3ueN
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NSW govt tells potential home owners to build rather than buy

Published 3:27 PM, 12 Jun 2012

Treasurer Mike Baird has urged first home buyers in NSW to "think new" after his second budget unveiled a doubling of the grant for new housing but cut assistance for those buying an existing property.

Under his Building the State package, the First Home Owners Grant will increase from $7000 to $15,000 on October 1 for new properties, before dropping to $10,000 from 2014.

Tuesday's budget will also introduce the New Home Grant of $5,000 to all others buying a new property up to $650,000, while existing first home buyer stamp duty concessions will apply on new properties up to that amount - an increase of $50,000.

However, in a blow to first home buyers interested in an existing home, the $7,000 grant will be axed on October 1 in a move to encourage them into the new housing market.

Asked what he would say to those who could soon miss out on any government assistance, Mr Baird said: "Think new."

"This is a fantastic day for you - there is an opportunity to get into a housing market like never before," Mr Baird said at his post-budget press conference.

"The generosity we're providing in terms of the first home buyers grant together with the stamp duty concessions, says to the first home buyers 'Think new'."

Mr Baird said the first home buyer changes, together with a $561 million boost in infrastructure funding to stimulate housing supply, would help kick-start a housing sector that has struggled for too long.

"We have applied the money to help deliver that, both in terms of demand incentives, (and) getting the infrastructure on the ground; that's the sewerage, the water," Mr Baird said.

"Let's get all of the blockages out of the way, and let's get this economy moving, let's get the housing sector moving.

"The whole premise of this budget is making these difficult decisions so we can get our state moving, so we can see the building going, so we can see the housing sector moving, we can see jobs, we can see investment."

Mr Baird said he hoped to raise $500 million from the long-term lease of Port Kembla, another measure announced on Tuesday.

The Treasurer said putting Port Kembla on the table "could add substantial value" to the future leasing of Port Botany in Sydney, announced in last year's budget.

"In order to build the infrastructure what do we do, well we have to be more creative with what we have," Mr Baird said.

"Adding Port Kembla today adds to that armoury, it gives us more firepower needed to get the state moving on infrastructure."

As expected, the budget confirmed the government would implement a new labour expense cap of 1.2 per cent which could see 10,000 public sector jobs losses over four years.

Mr Baird again said the government could not sugarcoat the fact the measure would lead to thousands of job losses, but said it was up to department heads to manage the cap.

He said better management of overtime, leave and contractors could mean the new cap would result in less than 10,000 job losses.

Police, nurses and teachers will be exempt from the measure.

"Outside police, nurses and teachers, everyone has a load to bear," he said.

"We are very confident that the heads of department, the director-generals, have the flexibility ... whether it be opportunities with part-time employees, whether it be looking at contractors."

Developers primed to build

Developers are ready and waiting to build new homes in NSW and measures in the state budget will provide the impetus for them to invest, the Urban Development Institute of Australia (UDIA) says.

"This is a budget that provides the antidote to Sydney's sick housing market," UDIA NSW chief executive Stephen Albin said.

"The developers are out there, they're just waiting for the right time to invest.

"This budget addresses the problems within the government ... and at the same time invests in that critical infrastructure."

Read more: http://www.businessspectator.com.au/bs.nsf/Article/Think-new-NSW-govt-tells-home-buyers-V77X3
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