News

Market forecasts for building boom prove way off

A building boom in the Clarence Coffs was not as big as the prediction.
A building boom in the Clarence Coffs was not as big as the prediction.

BUSINESS analyst BIS Shrapnel has downgraded its estimates for a Grafton-Coffs Harbour led building revival.

Twelve months ago the forecasting agency predicted building starts in the area would boom by 52%, making it the fastest growing in Australia.

While the 29% growth is not too shabby, it is a long way off the predicted figure, prompting the experts to say it was taking longer than expected to materialise.

In the report Regional Building 2014-2016 the forecaster analysed trends and prospects in demand and supply for residential and non-residential building in regional areas.

At the top of the league table are several regions on the NSW North Coast, such as the top placed Richmond-Tweed, forecasted to see home building grow 46%, and Mid North Coast above 46%.

These regions tend to have an older age profile, and have a significant lifestyle and retiree component to demand.

After the Global Financial Crisis (GFC) home building in these areas dropped, and now they find there is an undersupply of homes.

Growth will accelerate in 2014/15 and beyond, taking activity back towards pre-GFC levels.

Grafton-Coffs Harbour has fallen to number six on the league table.

BIS Shrapnel associate director Kim Hawtrey made no bones about the reasons behind the variation in figures.

"We have a theory about words like 'global' and 'macro'. They're over rated, especially when it comes to bricks and mortar," he said.

"The fact is, building always happens at a particular postcode. And no two postcodes are the same.

"Take the umpteen local regions sprinkled across Australia, for instance. Some geographical pockets are set to win big from the home building boom in 2014/15, while others will record declines - in some cases dramatic declines."

Topics:  bis shrapnel, building industry, coffs harbour, grafton, housing boom




Port plans for Clarence Valley brings out community anger

STORM OVER PORT: The crowd at the Iluka Community Hall meeting listens to concerns about plans for a major port development at Yamba.

Attempts to build a mega port will get anti-CSG medicine.

Grafton boy battles on after shock diagnosis

SWIFT ATTENTION: Kane McPherson and his mum Natalie and dad Rick with pop star Taylor Swift at Lady Cilento Children's Hospital.

Meeting Taylor Swift gave Kane a lift at he undergoes chemo.

Connors outstanding as Ghosts outclass Panthers at home

PIN POINT: Grafton Ghosts’ halfback Jayden Connors was accurate with the boot, hitting one 40-20 in the home side’s 40-10 victory over the Sawtell Panthers.

Grafton Ghosts' halfback on fire in 40-10 thrashing of Panthers.

Latest deals and offers

Pop icon and former Neighbours star buys into Byron

Singer Natalie Imbruglia. Supplied by Sony Music Australia.

Former actor turned pop singer joins Byron celebrity rush.

MASTERCHEF: Coast cooks to dominate finals

SO CLOSE: MasterChef's final four, from left, Matt Sinclair, Elise Franciskovic, Harry Foster and Elena Duggan. Elise’s elimination means now only the three Sunshine Coast contestants remain in the competition.

MasterChef finals will be mandatory viewing in three Coast homes

The best and worst bits of Splendour from our experts

The Amphitheatre received Flume with open arms and danced to his music on Sunday night.

The good, the bad and the plain weird

Elise's emotional exit from MasterChef quarter finals

MasterChef Australia Top 4 contestant Elise Franciskovic.

CAIRNS cook struggles after receiving letter from fiance.

Reno stars want tradies to focus a little more on one thing

The Demmrichs want Tradies to look after their most important tool

Fashionistas show off at Splendour in the Grass

Amberly Nelson, from Melbourne, posts for a photo with friends at Splendour in the Grass.

GLITTER, skin and mesh were all on show at festival this weekend.

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd

Ecco Ripley sales run sparks prime release

MOVING IN: Sekisui House has announced the release of more residential blocks at Ecco Ripley.

Sekisui House is preparing to unveil more land at Ecco Ripley

Massive residential 9-storey high-rise hit by delays

An artist’s impression of the eight-storey-high apartment complex that Bernoth Holdings wants to build in South Toowoomba, next to the City Golf Club.

Developer struggles to get approved high-rise development started