Healthy rivers support a stronger housing market in the Murray-Darling Basin

Size: px
Start display at page:

Download "Healthy rivers support a stronger housing market in the Murray-Darling Basin"

Transcription

1 NB: Revised on 26 March 2012 to correct an error in the original release. Rather than average house values at time of sale, the data relates to average house values at time of building approval. The dates (2006 to 2010) remain the same and the data is from the same source the Australian Bureau of Statistics. ABS does not have data available on house sale prices across the Basin, making building approval values a measure of confidence in the housing market and a proxy for the house sale values across the region. Healthy rivers support a stronger housing market in the Murray-Darling Basin Analysis by the Australian Conservation Foundation March 2012 Continuing a series of economic analysis by the ACF over the past two years, this latest analysis highlights again the critical role a healthy river system plays in underpinning a strong Murray-Darling Basin economy. 1 The following analysis of the value of houses, based on building approvals, 2 from 90 shires and councils across the Basin over five years (from 2006 to 2010) shows that in this period of drought and substantial Basin water reform, home owners are increasing the amount spent on house building works, a solid proxy for house values. This indicates there is little to link the value of houses to Basin water reform. 25% 20% 15% 10% 5% 0% Figure 1: Average growth in Basin Region House Values 2006 to 2010: 'Poor River Health' versus 'Good River Health' Poor Health Good Health 1 See previous ACF studies including: Wetlands: underpinning a robust rural economy, 1 June 2010; Socioeconomics and the Murray- Darling Basin: water allocation and economic viability, 20 October 2010; What s a healthy Murray-Darling Basin worth to Australians?, 2 Feb 2011; and Separating the Wheat from the Chaff: as assessment of the socioeconomics of the draft Murray-Darling Basin Plan, 8 December ABS data refers to Building Approvals average value of private sector houses. ACF has used this as a proxy for value of houses, as ABS does not report house price sales data for this time period and this region.

2 But while there does not appear to be a negative link between house values and water reform, the analysis does find average value of house approvals are growing faster in regions where the river system is in good health than in areas where the river system is in poor health. Contrary to reports that have hypothesised on a negative relationship between house values in the Basin and the water reform process 3, 4 this data indicates a strong link between healthy rivers and a strong housing market, again demonstrating that a healthy environment goes hand in hand with a healthy economy. Upon a closer investigation of the data, in fact average house prices (as opposed to average value of new house approvals) in the Basin in 2011 have been performing better than Australia s capital city house prices with any negative impact being more likely related to the current poor national housing market than Basin reforms. The data shows: Over a five year period from 2006 to 2010, while governments have been planning and implementing the Basin reform, and during the worst of the drought period, average value of new house approvals in the Basin rose quite remarkably across 90 councils and shires, growing by almost 19 per cent. Average value of new house approvals in Basin river valleys that have been rated in good ecological health grew at stronger rates over that same five year period than both the total Basin average and house values where rivers were in poor health 21 per cent growth in regions of good ecological health against only 11.5 per cent in regions of poor ecological health. In 2011, average house prices have been dropping across Australia. However, contrary to some media reports, average house prices in regional Australia have been holding up stronger than capital cities, dropping by only 2.9 per cent compared with average drops in capital cities of 3.6 per cent. Even though media reports have average house prices dropping by 4.2 per cent in 14 Basin towns highly exposed to water reforms, this price drop compares favourably to many other areas of the Australian housing market, such as Brisbane, where house prices dropped by 6.8 per cent over the same period. These findings indicate little to link average house values and Basin water reforms, as the former has clearly bucked the trend at the same time as many important stages of the Basin reforms have progressed. Rather, this analysis leads us to conclude that there is a strong correlation between healthy rivers and a healthy housing market, showing that far from trading off the economy for the environment, a healthy environment underpins a healthy economy. 3 The Age, House prices slump in basin towns, David Wroe, 12 Jan The Australian, Murray-Darling Water Plan hits house prices, David Uren, 27 Jan

3 Analysis 2011: Press reports have hypothesised on a negative relationship between house prices in the Murray-Darling Basin and the imminent Basin Plan. The Age reported that house prices in 14 key towns heavily reliant on irrigation in the Basin suffered a drop in value of 4.2 per cent in The Australian reported that house prices in 20 regional towns had an average drop of 10.5 per cent in October and November The figures used in the reports in The Age and The Australian are from RP Data Rismark. A closer look at that firm s Home Value Index data suggests there has certainly been a depreciation in house values in regional Australia in But this is far from restricted to regional Australia or only Basin communities. Year on year (December quarter 2010 to December quarter 2011), Australian capital city average house prices dropped by 3.6 per cent. 7 The same source shows house prices also dropped in Australian regions over the same period, but by only 2.9 per cent faring much better than capital cities. In fact, even the 4.2 per cent drop in house prices in 14 regional towns in 2011, as reported in The Age, looks like quite a good outcome when compared with Brisbane s 6.8 per cent drop in house values reported by RP Data-Rismark. These results are further supported by the recent ABS House Price Index showing the price index for established houses in Australia s eight capital cities dropped by 4.8 per cent in the year to December quarter This indicates that there was little good news for sellers of houses anywhere in Australia in 2011, but the impact of macroeconomic factors on house prices were felt more strongly in capital cities than in the regions. Fact: Regional house prices have performed better than capital city averages over : Is there any truth that in certain towns house values have dropped significantly since the government released its Guide to the Basin Plan in October 2010? To test a relationship between the water reform process and house values, we analysed a significant sample of the most recent Australian Bureau of Statistics (ABS) house value data, 5 The Age, House prices slump in basin towns, David Wroe, 12 Jan The Australian, Murray-Darling Water Plan hits house prices, David Uren, 27 Jan RP Data Rismark, Home Value Index Release, 31 January 2012, accessed at 8 ABS, House Price Indexes: Eight Capital Cities, Dec 2011 accessed at 3

4 based on building approvals, over five years and for over 90 councils and shires across the Basin (as defined by the Murray-Darling Association). 9,10 As the ABS does not report on private house sale prices over this period, we have taken building approvals average value of private sector houses as a measure of confidence in the housing market and a proxy for the house sale values. This five year period ( when latest data is available) was marked by a long drought and then emergency action by Federal and State governments to reform water use and purchase water to stop the decline of the river system. Several important national reports and programs initiated during this period all signalled clearly that reform of current water consumption patterns would be dramatically changed in the future, with likely implications for available water for irrigators: The emergency summit called by then Prime Minister John Howard with all Basin State Premiers in November 2006 The January 2007 release of Prime Minister Howard s 10-point plan for reform, which included a $10 billion commitment that was focused on water buy backs and investing in water savings from efficiency measures for the environment The release of the Water Act The Guide to the Basin Plan in October 2010 The most recently the Draft Plan in November 2011 If there was a link between house prices and water reform, there would be numerous occasions over this five year period where a trend would be noticeable. Our analysis indicates there is no such link. Home owners continued to increase the amount spent on house building works over this period. Figure 2 below shows this in clear terms. In the five years from 2006 to 2010 value of building approvals for new houses and renovations in 90 councils and shires across the Basin grew by 19 per cent, an average of just under 5 per cent per year. Interestingly, at the peak of the drought (2006 to 2007), as Prime Minister Howard was announcing plans to return massive amounts of water to the river, the value of new house approvals jumped by around 10 per cent across the Basin. 9 ABS, National Regional Profile to 2010, Cataloge Number: (The Average Value of Private Sector Houses in the Murray-Darling Basin region), November Murray-Darling Association, accessed at 4

5 Figure 2: The Average Total Value of Houses in the Murray-Darling Basin Region ($ '000) $230 $220 $210 $200 $190 $180 $170 $160 $150 $140 $ $ $ $ $ Linear (Total Average) Data Source: Australia Bureau of Statistics, National Regional Profile from 2006 to 2010, Cataloge Number: (The Average Value of Private Sector Houses Building Approvals in the Murray-darling Basin region) released in November Note: The Average Value of Houses is the sum of building approvals of private sector houses value in the region(s) divided by total number of houses. Note: The Murray-Darling Basin regions are a total of 93 Councils and Shires as defined by the Murray Darling Association across Victoria, NSW, Queensland and South Australia. Data is used for all councils/shires where available from ABS. Defining absolute causation from short term trends with limited sample sizes can lead to obscure results. Monthly or annual data that is focused on single towns where very few house sales have occurred, as was used in some media reports, is severely limited in helping us define overall trends. The propensity for small data series to come up with large variations is highlighted by the article in The Age that cites two years of data, the most recent year showing declines in house prices (although not stating that declines in property prices have been replicated around much of Australia) but the former year (2010) showing increases in prices. In the case of Berrigan in NSW for example (cited in The Age), the swing between increasing then decreasing average house prices is dramatic a 63 per cent increase in 2010, followed by a 23 per cent decrease in In a town of less than 1000 people, very few houses would be sold in any 12 month period. In fact, the real estate website Domain.com.au cites only 19 sales in the last 12 months. This is barely sufficient to describe any substantive trend and can easily result in large variations in data that don t tell us anything useful. Fact: Over a five year period from , when governments have been planning and implementing Basin reform, and during the peak drought period, the value of new house approvals in the Basin have risen by 19 per cent, an average of just under 5 per cent per year, across 90 councils and shires. Fact: Even at the peak of the drought, while the Howard government was working on an emergency plan to buy back water from irrigators for the river and invest in water recover through efficiency measures, new house approvals were appreciating strongly. 5

6 Fact: These findings over five years indicate that there is little to link house values and Basin water reforms, as the former has clearly bucked the trend while many important stages of the Basin reforms have progressed. House values and river health Using this much more detailed sample of 90 councils and shires in the Basin, ACF compared councils based on the health of their river valley to assess growth of new house approvals and see if any patterns emerged. The Sustainable Rivers Audit, released by the Murray- Darling Basin Authority in 2008 after a Basin-wide assessment of the ecological health of the Basin s 23 major river valleys, rated each on a scale of extremely poor to good health. 11 ACF looked at the 90+ council and shires within these 23 major river valleys, grouping them within the 12 regions identified by the Murray-Darling Association. In cases where regions were not identical to river valleys, they were allocated to that valley with the largest overlap. Where the regions covered multiple valleys, the health of the river valleys was averaged conservatively. In order to identify patterns, we examined house values in councils where river health was poorest and compared these to councils where river health was highest. Figures 3 and 4 below compares value of building approvals for new houses and renovations over five years for regions with the lowest ranking in the Sustainable Rivers Audit (Figure 3 very poor health Murrumbidgee region) with regions where rivers were reported to be in good or moderate health (Figure 4 largely Paroo, Border Rivers, Condamine river valleys). Figure 3: Average Value of Houses in river valleys of Very Poor health $260 $240 $ $ $ $220 $ ($'000) $200 $ $180 $160 $140 $120 $ Linear (Total Average) Data Source: Australia Bureau of Statistics, National Regional Profile from 2006 to 2010, Cataloge Number: (The Average Value of Private Sector Houses Building Approvals in the regions) released in November Note: The Average Value of Houses is the sum of building approvals of private sector houses value in the region(s) divided by total number of houses. Note: The Health Indicators are taken from the Murray-Darling Basin Authority (MDBA) in The Sustainable River Audit: Murray Darling Basin River Health Check MDBC (2008). Murray Darling Basin Rivers: Ecosystem Health Check, A summary report based on the Independent Sustainable Rivers Audit Group s SRA Report 1: A Report on the Ecological Health of Rivers in the Murray- Darling Basin, , submitted to the Murray-Darling Basin Ministerial Council in May

7 Note: The Region relates to the Murrumbidgee river valley, and includes City of Wagga Wagga, Leeton Shire Council, Lockhart Shire Council, Murrumbidgee Shire Council, Shire of Carrathool, Shire of Hay, Tumut Council, Gundagai and the City of Griffith Figure 4: Average Value of Houses in river valleys of Good and Moderate health ($'000) $260 $240 $220 $200 $180 $160 $140 $120 $ $ $ $ $ $ Linear (Total Average) Data Source: Australia Bureau of Statistics, National Regional Profile from 2006 to 2010, Cataloge Number: (The Average Value of Private Sector Houses Building Approvals in the Murray-Darling Basin region 4 ) released in November Note: The Average Value of Houses is the sum of building approvals of private sector houses value in the region(s) divided by total number of houses. Note: The Health Indicators are taken from the Murray-Darling Basin Authority (MDBA) in The Sustainable River Audit: Murray Darling Basin River Health Check Note: The Region relates to Goondwindi Regional Council, Moree Plains Shire Council, Tenterfield Shire Council, Walgett Shire Council, Balonne Shire Council, Southern Downs Regional Council, and Toowoomba Shire Council. Data was not available or incomplete, for Maranoa, Warroo, Western Downs, Paroo and Brewarrina Shire Councils. The figures above show the value of new house approvals in areas with the best river health and the poorest river health both grew consistently over the five year period. What is notable here is the difference in growth rates. The regions with the best ecological health grew at above average rates of 21 per cent in five years (average over 5 per cent per annum) above the Basin average of 19 per cent (4.73 per cent per annum). By contrast, those regions in the poorest ecological health showed a distinctly slower growth rate of 11.5 per cent in five years (averaging just below 3 per cent per annum), substantially below the Basin average. Table 1 below shows the difference in growth rates of house prices over that period. Table 1: Comparison between good and poor health regions and all Murray-Darling Basin regions Table of Comparison Health Indicator Very Poor Good All Regions Average Growth 2.88% 5.28% 4.73% Total % Change 11.51% 21.13% 18.91% 7

8 This data suggests building approvals values in areas of good ecological health have performed far more strongly than in regions of poor ecological health. Certainly, many economic valuations that have looked into the economic impact of environmental factors on property values (called hedonic pricing studies) - including some studies undertaken in the Basin - indicate a similar trend: house values near green space, or with better aesthetic values, generally attract higher prices. 12 The results above seem to indicate this is no different in the Basin when comparing across health of river valleys. Houses in all areas of the Basin increased in value over the five years, according to ABS data, however those in regions where the river system remains in good health appear to be growing in value at a higher rate than those in the parts of the Basin where the river system is struggling. This suggests that by improving the health of the Basin as a whole could in fact result in higher house values rather than having a negative impact as has been suggested elsewhere. Fact: average value of new house approvals in river valleys of good ecological health have grown at stronger rates (21 per cent) where rivers are in poor ecological health (11.5 per cent), as well as outperforming the Basin average growth rate (19 per cent). Contact: Simon O'Connor, Economic Adviser, , S.OConnor@acfonline.org.au new eco nomics program This report was developed by ACF s new economics program that advances practical, achievable improvements in economic theory and practice to better promote human wellbeing in an ecologically sustainable way. The new economics program identifies cutting edge thinking on new economics globally, in collaboration with leading institutions in Australia and overseas. It then seeks to translate that thinking into effective results, by communicating new economic ideas, demonstrating how those ideas can work in practice, and advocating the concrete changes in government and business policy and practice that would put them into effect. The program is not a think tank; rather it harvests, amplifies and operationalises the best thinking of others globally in this field. Australian Conservation Foundation, 2012 Level 1, 60 Leicester Street, Carlton, Vic see for example: Tapsuwan, S, Macdonald, DH, King, D, Poudyal N, A combined site proximity and recreation index approach to value natural amenities: an example from a natural resource management region of the Murray-Darling Basin., Journal of Environmental Management, 2012 Feb; 94(1): Epub 2011 Sep 15. 8

What is the Murray-Darling Basin Regional Economic Diversification Program?

What is the Murray-Darling Basin Regional Economic Diversification Program? Regional Business Investment Fund What is the Program? The Program (MDBREDP) provides approximately $100 million under the Murray-Darling Basin Plan to assist Basin communities increase economic diversification

More information

Housing Market Overview Prepared for CitiBank. January 2014

Housing Market Overview Prepared for CitiBank. January 2014 Prepared for CitiBank January 214 Combined capital cities Combined capital city home values increased by 2.8% over the final quarter of 213 according to the RP Data-Rismark Home Value Index. Home values

More information

Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry

Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry This paper examines some key financial aspects of the Australian vegetable industry as it relates to pricing and costs of

More information

NAB Online Retail Sales Index Indepth report October 2013

NAB Online Retail Sales Index Indepth report October 2013 NAB Online Retail Sales Index Indepth report October Chart : Growth in online sales vs. retail sales (%, mom) - Apr- Jan- Oct- Jul- Apr- Online Index (sa, MMA) ABS retail sales (ex. takeaway food) (sa,

More information

HOME BUILDING & CONTENTS INSURANCE BRIEFING NOTE

HOME BUILDING & CONTENTS INSURANCE BRIEFING NOTE HOME BUILDING & CONTENTS INSURANCE BRIEFING NOTE Key Points The average home building insurance premium has increased by 57% over the last 3 years. 1 The average home contents premium increase is 18.2

More information

NAB Online Retail Sales Index In depth report July 2014

NAB Online Retail Sales Index In depth report July 2014 NAB Online Retail Sales Index In depth report July Table. Key online retail statistics Total online Index Domestic sales International sales May YOY growth (%) Jun Jul May MOM growth (% sa, 3mma) Jun Jul

More information

Sensis e-business Report 2015 The Online Experience of Small and Medium Enterprises

Sensis e-business Report 2015 The Online Experience of Small and Medium Enterprises Sensis e-business Report 2015 The Online Experience of Small and Medium Enterprises JOE S Table of contents Introduction... 3 About the survey...4 Executive summary...6 Levels of computer ownership...

More information

Employment Outlook for. Electricity, Gas, Water and Waste Services

Employment Outlook for. Electricity, Gas, Water and Waste Services Employment Outlook for Electricity, Gas, Water and Waste Contents INTRODUCTION... 3 EMPLOYMENT GROWTH... 4 EMPLOYMENT PROSPECTS... 6 VACANCY TRENDS... 8 WORKFORCE AGEING... 10 EMPLOYMENT BY GENDER AND

More information

Submission to the Queensland Competition Authority. Regulated Retail Electricity Prices 2013-14 Transitional Issues & Cost Components and Other Issues

Submission to the Queensland Competition Authority. Regulated Retail Electricity Prices 2013-14 Transitional Issues & Cost Components and Other Issues Submission to the Queensland Competition Authority Transitional Issues & Cost Components and Other Issues January 2013 Queensland Farmers Federation Ltd. A.C.N. 055 764 488 A.B.N. 44 055 764 488 PO Box

More information

Housing Affordability Report

Housing Affordability Report Housing Affordability Report Joint ly Survey No. 94. ch Interest rate increases bite hard The title of the Deposit Power/Real Estate Institute of Australia Home Loan Affordability Report has been changed

More information

August 2014. Industry Report: SolarBusinessServices. Solar Businesses in Australia. Prepared for: Rec Agents Association

August 2014. Industry Report: SolarBusinessServices. Solar Businesses in Australia. Prepared for: Rec Agents Association August 2014 Prepared by: Industry Report: SolarBusinessServices Prepared for: Solar Businesses in Australia Rec Agents Association P a g e 1 RAA Industry Report Solar Businesses in Australia Final 2014

More information

Home loan affordability report

Home loan affordability report Home loan affordability report Joint Quarterly Survey No. 89. ember Quarter Low affordability challenges Gen X, Y Home loan affordability has taken another beating as the proportion of family income required

More information

Housing Affordability Report

Housing Affordability Report Housing Affordability Report JUNE QUARTER Stable market but no reprieve for first home Housing affordability remained relatively steady in the June quarter of with the proportion of income required to

More information

Health expenditure Australia 2011 12: analysis by sector

Health expenditure Australia 2011 12: analysis by sector Health expenditure Australia 2011 12: analysis by sector HEALTH AND WELFARE EXPENDITURE SERIES No. 51 HEALTH AND WELFARE EXPENDITURE SERIES Number 51 Health expenditure Australia 2011 12: analysis by sector

More information

Insurance Insights. When markets hit motorists. How international financial markets impact Compulsory Third Party insurance

Insurance Insights. When markets hit motorists. How international financial markets impact Compulsory Third Party insurance Insurance Insights When markets hit motorists How international financial markets impact Compulsory Third Party insurance August 2012 Chris McHugh Executive General Manager Statutory Portfolio Commercial

More information

Sensis e-business Report 2014. The Online Experience of Small and Medium Enterprises

Sensis e-business Report 2014. The Online Experience of Small and Medium Enterprises Sensis e-business Report 2014 The Online Experience of Small and Medium Enterprises Table of contents Chapter 1 - Introduction 4 1.1 About the survey 4 1.2 Executive summary 6 Chapter 2 - Levels of computer

More information

STRATEGIC SCIENCE AND RESEARCH PRIORITIES

STRATEGIC SCIENCE AND RESEARCH PRIORITIES STRATEGIC SCIENCE AND RESEARCH PRIORITIES At the inaugural meeting of the Commonwealth Science Council, members strongly supported the need and value of establishing science and research priorities, at

More information

www.nextstepaustralia.com Buying a Property in Australia

www.nextstepaustralia.com Buying a Property in Australia www.nextstepaustralia.com Buying a Property in Australia Buying a Property in Australia Housing Market in Australia - Update May 2010 Trends indicate that Australia has ridden out the worst of its house

More information

NAB Online Retail Sales Index Indepth report: January 2010 January 2012

NAB Online Retail Sales Index Indepth report: January 2010 January 2012 NAB Online Retail Sales Index Indepth report: January 1 January 12 Chart 1: Growth in online sales slows across H2 11, but outpaces traditional 1 3 1 Growth in online sales vs. retail sales Online Index

More information

Challenger Wine Trust

Challenger Wine Trust Challenger Wine Trust 2007 Annual results Nick Gill Fund Manager 22 August 2007 Important notice Information contained in this publication is current as at 22 August 2007 unless otherwise specified and

More information

The Credit Card Report May 4 The Credit Card Report May 4 Contents Visa makes no representations or warranties about the accuracy or suitability of the information or advice provided. You use the information

More information

Home Owners Confidence Boosted as Affordability Improves

Home Owners Confidence Boosted as Affordability Improves JOINT QUARTERLY SURVEY NO.1 JUNE QUARTER Home Owners Confidence Boosted as Affordability Improves e quarter recorded an improvement in housing affordability with the proportion of income required to meet

More information

Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8

Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8 Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8 2 Business SA is the State s leading business organisation, representing

More information

House price to income ratio... 2. Recent commentary on Australia s ratio and market... 2. Data inputs and analysis... 3. Results...

House price to income ratio... 2. Recent commentary on Australia s ratio and market... 2. Data inputs and analysis... 3. Results... House Price to Income Ratios in Australia December 2010 House price to income ratio... 2 Recent commentary on Australia s ratio and market... 2 Data inputs and analysis... 3 Results... 4 House price to

More information

House price report. September quarter 2014. Dr Andrew Wilson Senior Economist for the Domain Group

House price report. September quarter 2014. Dr Andrew Wilson Senior Economist for the Domain Group September quarter 2014 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Most capital city housing markets recorded falls in house prices over the September quarter September quarter

More information

TRENDS IN STUDENT ENROLMENTS FOR AUSTRALIAN BACHELOR DEGREES: IS THE PRESENT GROWTH STRATEGY SUSTAINABLE?

TRENDS IN STUDENT ENROLMENTS FOR AUSTRALIAN BACHELOR DEGREES: IS THE PRESENT GROWTH STRATEGY SUSTAINABLE? AUSTRALIAN HIGHER EDUCATION POLICY ANALYSIS TRENDS IN STUDENT ENROLMENTS FOR AUSTRALIAN BACHELOR DEGREES: IS THE PRESENT GROWTH STRATEGY SUSTAINABLE? The University of Melbourne SUMMARY The Rudd Labor

More information

SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING. Prepared by National Policy Office

SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING. Prepared by National Policy Office SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING Prepared by National Policy Office March 2014 COTA Australia Authorised by: Ian Yates AM Chief Executive iyates@cota.org.au 0418 835 439 Prepared by: Jo Root

More information

Local plumbing regulators in NSW

Local plumbing regulators in NSW Local plumbing regulators in NSW On-site plumbing and drainage compliance and inspections This document outlines who performs the functions of the plumbing regulator in NSW. Under the Plumbing and Drainage

More information

Adelaide CBD Office Market

Adelaide CBD Office Market SPRING 2015 MARKET TRENDS Leasing demand strengthened in the year to July 2015, led by take up from the Government and regulatory authorities and Utilities, Mining and resources sectors. Supply additions

More information

RP Data chart pack. October 2014

RP Data chart pack. October 2014 RP Data chart pack October 2014 Macro housing market indicators 2 Residential real estate absolutely underpins Australia s wealth position Residential Real Estate $5.6 Trillion Australian Superannuation

More information

Housing Price Forecasts, 2015. Illinois and Chicago MSA

Housing Price Forecasts, 2015. Illinois and Chicago MSA Housing Price Forecasts, 2015 Illinois and Chicago MSA Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs

More information

Responding to scarcity: Lessons from Australian water markets in supporting agricultural productivity during drought

Responding to scarcity: Lessons from Australian water markets in supporting agricultural productivity during drought Responding to scarcity: Lessons from Australian water markets in supporting agricultural productivity during drought Will Fargher, General Manager, Water Markets and Efficiency Group, National Water Commission

More information

Housing Affordability Report

Housing Affordability Report Housing Affordability Report MARCH QUARTER Housing affordability improves on the back of falling interest rates as loan sizes rise and incomes stall The first quarter of showed an improvement in housing

More information

Developments in Utilities Prices

Developments in Utilities Prices Michael Plumb and Kathryn Davis* Large increases in the prices of utilities have been a notable feature of consumer price inflation in Australia in recent years, and further large increases are anticipated

More information

Housing Turnover and First-home Buyers

Housing Turnover and First-home Buyers Housing Turnover and First-home Buyers Paul Bloxham, Daisy McGregor and Ewan Rankin* While housing turnover varies over time, on average, around 6 per cent of the housing stock, or around dwellings, change

More information

Budget priorities: cut company tax, invest in infrastructure and balance budget within five years.

Budget priorities: cut company tax, invest in infrastructure and balance budget within five years. Ai Group Survey Business Priorities for the 2014-15 Federal Budget Budget priorities: cut company tax, invest in infrastructure and balance budget within five years. 4 May 2014 The top three priorities

More information

Submission to the Queensland Competition Authority

Submission to the Queensland Competition Authority Submission to the Queensland Competition Authority Draft Determination Regulated Retail Electricity Prices 2013-14 March, 2013 1 Cotton Australia Cotton Australia is the key representative body for the

More information

ARLA Members Survey of the Private Rented Sector

ARLA Members Survey of the Private Rented Sector Prepared for The Association of Residential Letting Agents ARLA Members Survey of the Private Rented Sector Fourth Quarter 2013 Prepared by: O M Carey Jones 5 Henshaw Lane Yeadon Leeds LS19 7RW December,

More information

Electricity network services. Long-term trends in prices and costs

Electricity network services. Long-term trends in prices and costs Electricity network services Long-term trends in prices and costs Contents Executive summary 3 Background 4 Trends in network prices and service 6 Trends in underlying network costs 11 Executive summary

More information

Submission to the Queensland Department of Energy and Water Supply

Submission to the Queensland Department of Energy and Water Supply Submission to the Queensland Department of Energy and Water Supply The 30-year electricity strategy December, 2013 1 Cotton Australia Cotton Australia is the key representative body for the Australian

More information

Water Security Action Plan 2011-2016

Water Security Action Plan 2011-2016 Water Security Action Plan 2011-2016 Approved on: 30 May 2011 Owner: Program Manager, Sustainable City 8203 7723 Trim Reference: ACC2011/59983 Net Review Date: 2013 1 1. Introduction Why Has Council Developed

More information

Household Energy Expenditure: Measures es off Hardship & Changes in Income

Household Energy Expenditure: Measures es off Hardship & Changes in Income : Measures es off Hardship & Changes in Income By Professor or Sue Richardson Associate Professor or Peter Travers The National Institute of Labour Studies February, 2004 4 Table of Contents HOUSEHOLD

More information

How To Retain Engineering Expertise In An Engineering Job

How To Retain Engineering Expertise In An Engineering Job SUBMISSION TO THE INQUIRY INTO POTENTIAL REFORMS OF NATIONAL SECURITY LEGISLATION AUGUST 2012 Institution of Engineers Australia 2012 All rights reserved. Other than brief extracts, no part of this publication

More information

2014 Residential Electricity Price Trends

2014 Residential Electricity Price Trends FINAL REPORT 2014 Residential Electricity Price Trends To COAG Energy Council 5 December 2014 Reference: EPR0040 2014 Residential Price Trends Inquiries Australian Energy Market Commission PO Box A2449

More information

AN EXAMINATION OF THE IMPACT OF THE FAMILY TAX INITIATIVE. Gillian Beer

AN EXAMINATION OF THE IMPACT OF THE FAMILY TAX INITIATIVE. Gillian Beer AN EXAMINATION OF THE IMPACT OF THE FAMILY TAX INITIATIVE Gillian Beer Policy Papers No. 3 September 1996 National Centre for Social and Economic Modelling Faculty of Management University of Canberra

More information

Lending to small business

Lending to small business Lending to small business Supplementary submission to the Senate Economics Committee Inquiry into Access of Small Business to Finance David Richardson Senior Research Fellow The Australia Institute david@tai.org.au

More information

ICT Salary & Employment Index. Autumn 2015

ICT Salary & Employment Index. Autumn 2015 ICT Salary & Employment Index Autumn 2015 Market Update NATIONAL Australia s ICT jobs market bounced into gear after the seasonal January lull, reflecting predictions that 2015 will be another big year

More information

Stream 1 Regional Natural Resource Management Planning for Climate Change

Stream 1 Regional Natural Resource Management Planning for Climate Change Stream 1 Regional Natural Resource Planning for Climate Change in the Lachlan in the Southern Rivers NRM Lachlan This project will build on the strengths of the Lachlan (Kalare) Action Plan by providing

More information

The environment management services industry

The environment management services industry The environment management services industry Author: Paul J Perkins AM, Adjunct Professor, Australian National University and Chairman of the Barton Group. Citation: Perkins P 2006, The environment management

More information

Hot property market leaves first home buyers waiting

Hot property market leaves first home buyers waiting MEDIA RELEASE EMBARGOED UNTIL 12.01AM FRIDAY, 19 DECEMBER, 2014 Hot property market leaves first home buyers waiting Growth in housing prices attributed to low interest rates and high levels of investor

More information

Submission to Department of Sustainability, Environment, Water, Population and Communities

Submission to Department of Sustainability, Environment, Water, Population and Communities Submission to Department of Sustainability, Environment, Water, Population and Communities Commonwealth Environmental Water - Trading Arrangements May, 2012 1 Cotton Australia Cotton Australia is the key

More information

Executive Summary. 3 Attracting ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Executive Summary. 3 Attracting ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ Visa Small Business REPORT AUGUST 0 Spend Insights Visa Small Business Spend Insights monitors the economic confidence of U.S. small business owners by analyzing Visa Business card spend data and responses

More information

The Financial Position of Australian Unlisted Businesses

The Financial Position of Australian Unlisted Businesses The Financial Position of Australian Unlisted Businesses Tom Bilston and Melissa Watson* Using a variety of information sources, the financial position of unlisted firms in recent years is examined and

More information

Jobs Online Background and Methodology

Jobs Online Background and Methodology DEPARTMENT OF LABOUR LABOUR MARKET INFORMATION Jobs Online Background and Methodology DECEMBER 2009 Acknowledgements The Department of Labour gratefully acknowledges the support of our partners in Jobs

More information

Change in regulated retail gas prices from 1 July 2015

Change in regulated retail gas prices from 1 July 2015 Independent Pricing and Regulatory Tribunal FACT SHEET Change in regulated retail gas prices from 1 July 2015 June 2015 Across NSW, regulated retail gas prices will decrease by an average 3.9% (including

More information

What is driving Australians' travel choices?

What is driving Australians' travel choices? What is driving Australians' travel choices? What is driving Australians' travel choices? ISBN 978-1-921812-45-3 Tourism Research Australia Department of Resources, Energy and Tourism GPO Box 1564 Canberra

More information

CommBank Accounting Market Pulse. Conducted by Beaton Research + Consulting November 2014

CommBank Accounting Market Pulse. Conducted by Beaton Research + Consulting November 2014 CommBank Accounting Market Pulse. Conducted by Beaton Research + Consulting November 2014 Contents Increasing confidence underpinned by strong economic outlook 2 Australian economic outlook 3 November

More information

July 2013 King County Economic and Revenue Forecast

July 2013 King County Economic and Revenue Forecast July 2013 King County Economic and Revenue Forecast Briefing to the King County Forecast Council July 24 th, 2013 Dave Reich, Chief Economist Office of Economic and Financial Analysis Summary The U.S.

More information

AIBB SMALL BUSINESS SALES INDEX

AIBB SMALL BUSINESS SALES INDEX AIBB SMALL BUSINESS SALES INDEX THE STATE OF THE AUSTRALIAN MARKET MARCH 2014 QUARTER Powered by BizStats AIBB BizStats is Australia s largest database of completed business sales www.bizstats.com.au NOW

More information

Living Standard Trends in Australia: Report for Anglicare Australia. BEN PHILLIPS NATSEM UNIVERSITY OF CANBERRA, September 2015

Living Standard Trends in Australia: Report for Anglicare Australia. BEN PHILLIPS NATSEM UNIVERSITY OF CANBERRA, September 2015 Living Standard Trends in Australia: Report for Anglicare Australia BEN PHILLIPS NATSEM UNIVERSITY OF CANBERRA, September 2015 2 Contents 1 Executive Sumary 3 2 Introduction 5 3 Methodology 6 4 Results

More information

Our Product focus What business assets can I finance?

Our Product focus What business assets can I finance? Welcome to our December Electronic Newsletter. As 2012 draws to a close on behalf of all of us at 'Commercial Point Finance' we wish you and your family best wishes for a happy Christmas and a safe New

More information

COTTON AUSTRALIA LIMITED

COTTON AUSTRALIA LIMITED Ms Sophie Dunstone Committee Secretary Select Committee on Electricity Prices GPO Box 854 CANBERRA ACT 2601 September 14 2012 Dear Ms Dunstone Re: Select Committee on Electricity Prices Thank you for the

More information

Forecasting Business Investment Using the Capital Expenditure Survey

Forecasting Business Investment Using the Capital Expenditure Survey Forecasting Business Investment Using the Capital Expenditure Survey Natasha Cassidy, Emma Doherty and Troy Gill* Business investment is a key driver of economic growth and is currently around record highs

More information

edms 8. AUSTRALIA 8.1 Water Resources Management Policies and Actions

edms 8. AUSTRALIA 8.1 Water Resources Management Policies and Actions 8. AUSTRALIA 8.1 Water Resources Management Policies and Actions In Australia, an Intergovernmental Agreement for a National Water Initiative (NWI) was signed by the Australian Government, all state and

More information

Council of Ambulance Authorities

Council of Ambulance Authorities Council of Ambulance Authorities National Patient Satisfaction Survey 2015 Prepared for: Mojca Bizjak-Mikic Manager, Data & Research The Council of Ambulance Authorities Prepared by: Dr Svetlana Bogomolova

More information

Re Submission on Regulated Retail Electricity Prices

Re Submission on Regulated Retail Electricity Prices QFF MEMBERS Australian Prawn Farmers Association CANEGROWERS Cotton Australia Growcom Nursery & Garden Industry Queensland Qld Chicken Growers Association Qld Dairyfarmers Organisation ASSOCIATE MEMBERS

More information

TRADE REPORT. 1 JULY 2006 to 30 APRIL 2007

TRADE REPORT. 1 JULY 2006 to 30 APRIL 2007 TRADE REPORT 1 JULY 2006 to 30 APRIL 2007 Trade Highlights TRADE HIGHLIGHTS Trade through Sydney Ports this year continues to be the strongest on record. Total trade through all of Sydney s ports was 23.1

More information

Economic Commentaries

Economic Commentaries n Economic Commentaries Sweden has had a substantial surplus on its current account, and thereby also a corresponding financial surplus, for a long time. Nevertheless, Sweden's international wealth has

More information

Domain House Price Report June Quarter 2015

Domain House Price Report June Quarter 2015 Domain House Price Report June Quarter 2015 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Sydney market reports remarkable growth over June quarter to reach median house price of

More information

Asbestos News. [ accident compensation ] The latest from Australia and elsewhere. Key:

Asbestos News. [ accident compensation ] The latest from Australia and elsewhere. Key: d finitive [ accident compensation ] Keeping you informed. JUNE 2014 Asbestos News The latest from Australia and elsewhere News has been running hot in the asbestos area over the last six months. This

More information

Murray-Riverina Employment, Education and Training Roundtable Forum

Murray-Riverina Employment, Education and Training Roundtable Forum Murray-Riverina Employment, Education and Training Roundtable Forum Summary of proceedings April 2011 This report has been produced as a Project funded under the Australian Government s Industry Training

More information

Australian Housing Outlook 2014-2017. By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014

Australian Housing Outlook 2014-2017. By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014 Australian Housing Outlook 2014-2017 By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014 Recent Residential Property Market Trends Residential property demand has varied across purchaser

More information

NSW Planning Reforms May 2005

NSW Planning Reforms May 2005 NSW Planning Reforms May 2005 NSW PLANNING REFORMS The NSW State Government has announced significant changes to NSW planning laws. This is the second stage of a Government reform package first announced

More information

PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING

PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING PROFILE OF CHANGES IN COLORADO PUBLIC SCHOOL FUNDING 988-89 TO 998-99 Prepared for THE COLORADO SCHOOL FINANCE PROJECT Colorado Association of School Boards Colorado Association of School Executives Colorado

More information

Australian Remote Renewables: Opportunities for Investment

Australian Remote Renewables: Opportunities for Investment Australian Remote Renewables: Opportunities for Investment The largely untapped remote clean energy market and funding support available from the Australian Government creates an attractive opportunity

More information

REDUCING THE PAYROLL TAX BURDEN STEVEN MARSHALL MP, STATE LIBERAL LEADER IAIN EVANS MP, SHADOW TREASURER

REDUCING THE PAYROLL TAX BURDEN STEVEN MARSHALL MP, STATE LIBERAL LEADER IAIN EVANS MP, SHADOW TREASURER REDUCING THE PAYROLL TAX BURDEN STEVEN MARSHALL MP, STATE LIBERAL LEADER IAIN EVANS MP, SHADOW TREASURER The State Liberals will reduce the pressure of Payroll Tax on business and get South Australia s

More information

NSW Business Chamber Submission to the Special Commission of Inquiry into Electricity Transactions

NSW Business Chamber Submission to the Special Commission of Inquiry into Electricity Transactions 29 June 2011 Special Commission of Inquiry Electricity PO Box A1150 SYDNEY SOUTH 1235 1. The NSW Business Chamber welcomes the opportunity to make a submission to the NSW Government s Special Commission

More information

Accounting for Nature

Accounting for Nature Accounting for Nature Fenner Conference on the Environment Environmental Decision Making 10 12 March, 2009 The Shine Dome, Canberra Peter Cosier Wentworth Group of Concerned Scientists When speaking about

More information

Australian Government Response to the Senate Committee on Finance and Public Administration

Australian Government Response to the Senate Committee on Finance and Public Administration Australian Government Response to the Senate Committee on Finance and Public Administration Australian Government Response to the Senate Committee on Finance and Public Administration Native Vegetation

More information

Expenditure on education and training in Australia Update and analysis

Expenditure on education and training in Australia Update and analysis MITCHELL POLICY PAPER NO. 08/2015 Expenditure on education and training in Australia Update and analysis AUGUST 2015 Peter Noonan, Gerald Burke, Andrew Wade, Sarah Pilcher About the authors Professor Peter

More information

Submission by the Regional Universities Network (RUN) to the Inquiry into the Australian Innovation System

Submission by the Regional Universities Network (RUN) to the Inquiry into the Australian Innovation System Submission by the Regional Universities Network (RUN) to the Inquiry into the Australian Innovation System Introduction For Australia to remain a prosperous nation with high standards of health and well-being,

More information

Statistical appendix. A.1 Introduction

Statistical appendix. A.1 Introduction A Statistical appendix A.1 Introduction This appendix contains contextual information to assist the interpretation of the performance indicators presented in the Report. The following four key factors

More information

A Portrait of Australian Home Prices

A Portrait of Australian Home Prices A Portrait of Australian Home Prices October 2014 Key Points: Recent pronouncements from the Reserve Bank of Australia (RBA) and some media commentators have indicated that a continuation of dwelling price

More information

Long Term Financial Planning

Long Term Financial Planning Long Term Financial Planning Framework and Guidelines Long Term Financial Planning Framework and Guidelines for Western Australian Local Governments p1. Contents Foreword 4 1. Introduction 7 2. Purpose

More information

Australian water markets: trends and drivers 2007 08 to 2009 10

Australian water markets: trends and drivers 2007 08 to 2009 10 Australian water markets: trends and drivers 2007 08 to 2009 10 National Water Commission Australian water markets: trends and drivers 2007 08 to 2009 10 1 Commonwealth of Australia 2011 This work is copyright.

More information

Australia and Britain are managing their recovery from the global financial crisis through

Australia and Britain are managing their recovery from the global financial crisis through Patrick Snowball, Group CEO Suncorp Address to the Australian British Chamber of Commerce Brisbane, 17 February 2011 Australia and Britain are managing their recovery from the global financial crisis through

More information

A super waste of money

A super waste of money A super waste of money Redesigning super tax concessions April 2015 ISSN 1836-9014 Matt Grudnoff Policy Brief About TAI The Australia Institute is an independent public policy think tank based in Canberra.

More information

REVIEW OF FINANCIAL CONDITIONS: JUNE 2012

REVIEW OF FINANCIAL CONDITIONS: JUNE 2012 REVIEW OF FINANCIAL CONDITIONS: JUNE 1 HOUSEHOLD SECTOR Real household disposable income increased by 1. per cent in the March quarter to be.8 per cent higher over the year. The household saving ratio

More information

Employment Outlook to November 2018

Employment Outlook to November 2018 Based on the Department of Employment s 2014 employment projections Table of Contents Introduction... 2 Projected employment growth by industry... 3 Projected employment growth by skill level... 5 Projected

More information

Cost of Living Update. No.9, February 2012

Cost of Living Update. No.9, February 2012 Cost of Living Update No.9, February 2012 SACOSS Cost of Living Update No. 9, February 2012 ISSN 1836-5248 (Print) ISSN 1836-5256 (Online) First published in November 2012 by the South Australian Council

More information

Impact of Genetic Testing on Life Insurance

Impact of Genetic Testing on Life Insurance Agenda, Volume 10, Number 1, 2003, pages 61-72 Impact of Genetic Testing on Life Insurance he Human Genome project generates immense interest in the scientific community though there are also important

More information

Equity Finance Mortgage (EFM)

Equity Finance Mortgage (EFM) Introducing the award-winning Equity Finance Mortgage (EFM) Best New Product of the Year 2007 Best New Product of the Year 2008 What is an EFM? An Equity Finance Mortgage (EFM) is an award-winning home

More information

Off-grid Hybrid Solar: Market Overview, Business Case & Technical Considerations

Off-grid Hybrid Solar: Market Overview, Business Case & Technical Considerations Off-grid Hybrid Solar: Market Overview, Business Case & Technical Considerations Craig Chambers AECOM Australia Pty Ltd of 420 George Street, Sydney, NSW 2000 Australia Keywords : Solar PV, sustainability,

More information

RURAL AND REMOTE COUNCIL SUPPORT OF MEDICAL AND RELATED HEALTH SERVICES

RURAL AND REMOTE COUNCIL SUPPORT OF MEDICAL AND RELATED HEALTH SERVICES Shires Association of NSW RURAL AND REMOTE COUNCIL SUPPORT OF MEDICAL AND RELATED HEALTH SERVICES July 2004 1 Prepared by Noel Baum Local Government Association of NSW and Shires Association of NSW 28

More information

CoreLogic-Moody s Analytics Australian Forecast Home Value Index 2016Q1

CoreLogic-Moody s Analytics Australian Forecast Home Value Index 2016Q1 ANALYSIS Prepared By Alaistair Chan Alaistair.Chan@moodys.com Economist Faraz Syed Faraz.Syed@moodys.com Associate Economist Contact Us Email help@economy.com U.S./Canada +1.866.275.3266 CoreLogic-Moody

More information

Monetary Policy and Mortgage Interest rates

Monetary Policy and Mortgage Interest rates Monetary Policy and Mortgage Interest rates July 2014 Key Points: Monetary policy, which operates through changes in the official cash rate (OCR), is the main lever of macroeconomic management in Australia

More information

Structural Change in the Australian Economy

Structural Change in the Australian Economy Structural Change in the Australian Economy Ellis Connolly and Christine Lewis* Over time, the structure of the Australian economy has gradually shifted away from agriculture and manufacturing towards

More information

New South Wales State and Regional Population Projections 2001-2051. 2004 Release TRANSPORT AND POPULATION DATA CENTRE

New South Wales State and Regional Population Projections 2001-2051. 2004 Release TRANSPORT AND POPULATION DATA CENTRE New South Wales State and Regional Population Projections 21-251 251 24 Release TRANSPORT AND POPULATION DATA CENTRE THE TRANSPORT AND POPULATION DATA CENTRE (TPDC) The TPDC is located in the NSW Department

More information

The Economic Contribution of Copyright-Based Industries in Australia

The Economic Contribution of Copyright-Based Industries in Australia The Economic Contribution of Copyright-Based Industries in Australia 3 Prepared for the Australian Copyright Council by Price Waterhouse Coopers Contents Key findings 3 Introduction 7 1 Value added by

More information