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



Pilley pushes through for 24 hour ride

FINAL RUN: Morgan Pilley (5) leading from the front in the last few laps of his 24 hour Ride For Youth at the Junction Hill Criterium Track.

Event raises more money than last year before pedalling began

Community spirit on show at Maclean Christmas carols

Ted De Roos was performing at the annual Maclean Rotary Club Christmas carols at Maclean High School on Saturday night, 10th December, 2016

Young talent showcased at annual Christmas event

LATEST: Police appeal for witnesses to serious crash

EMERGENCY: A man, believed to be in his fifties, has been airlifted to Coffs Harbour Hospital with life-threatening injuries following a fail to stop incident at Dalmorton.

Three people still in hospital with serious injuries

Local Partners

Dakota's world beating spectacular performance

Dancer helps break world record at School Spectacular performance


Kernaghan's a 'boy from the bush' with a timeless quality

Country music singer Lee Kernaghan.

Lee Kernaghan is celebrating the 25th year of his breakthrough song.

Ready to rumble: Boxing makes long-awaited return to Grafton

DETERMINED: Grafton Amateur Boxing Club members Zac Cotten (Cruiserweight), James Morrison (Jnr Featherweight), Eddie Debono (Super Heavyweight), Rhys Walters (Light Heavyweight), Joseph Pigg (Jnr Welterweight), Jamie Mansfield (Cruiserweight) are prearing for upcoming fight night in Grafton.

Five North Coast title belts up for grabs

Cyclist's 24 hours of pain for mental health

International endurance mountain-bike rider Morgan Pilley is used to pushing through the elements, but this weekend he'll push on to raise money for local mental health services in a charity ride at Junction Hill.

Ride For Youth to raise money for local youth mental health services

Chris Pratt's 'mental preparation' for going nude on screen

Actor Chris Pratt

New film took some mental preparation for Chris Pratt

Spiderman star used fake name to research role

Spiderman star Tom Holland.

Spiderman star went undercover at Brooklyn highschool

What's on the small screen this week

A scene from the TV documentary Running Wild: Australia's Camels.

TWO new Aussie docos will pique your interest.

EXCLUSIVE: Meet Robert Irwin, wildlife photographer

SNAPPER: Apart from wildlife, photography is Robert Irwin's great passion.

Steve's boy has a passion for photography

Louis Tomlinson's tribute to late mother

Louis Tomlinson's new single is a tribute to his late mother.

Justin Timberlake stuns students with secret class

Justin Timberlake stunned high school students in Sydney

Five South Grafton houses that won't break the bank

Check out these South Grafton houses for sale

'Crucial' farm land eyed by defence department

Lawson Geddes moving the Brangus cattle to higher ground - which is the land the Defence Department is interested taking for the Shoalwater Bay expansion.

"You can't have one without the other.”

Former Shark Show for sale for $1.3 million

Vic Hislop at the old Shark Show.

TALK about a jaws-dropping real estate opportunity.

There's a whole lot of luxury in this home

The Endeavour Foundation's latest prize home in Mountain Creek.

WHEN it comes to desirable homes, it's hard to go past a prize home.

Give a little more this Christmas

TIME TO GIVE: Lee Johns, Courtney Smith and Daniel Kelly of Ray White Yamba promote their Little Ray Of Giving Christmas gift appeal.

Call out for presents, big or small

Ready to SELL your property?

Post Your Ad Here!