The Real Cost of Carbon Pricing

As the heated debate over Labor’s proposed carbon tax begins to smoulder, we are poised to discover just how strong an impact the controversial legislation will have on Australia’s already hard-pressed construction industry. With its 1 July introduction, the government hopes to use carbon pricing to encourage consumers and producers alike to be cognisant of the effects of pollution on our environment and ultimately more responsible by utilising cleaner processes.

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Intermodal Terminal Will See 3,350 Jobs Created

A new $2 billion road-rail facility will see the creation of over 3,000 jobs and a reduction in the number of trucks on roads in and around Sydney. The Moorebank road-rail intermodal terminal – with a shuttle to Port Botany in Sydney – will be constructed, owned and operated by the private sector, with government assistance in its development. Located in Sydney’s south west, tenders are underway for the Moorebank terminal, which is facing opposition from locals in the community. The government, however, is in favour of its construction, which they claim will remove some 3,300 trucks from Sydney roads […]

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Bowling Alley Becomes Luxury Residential Site

A unique development in the east end of the city, Fairlanes Perth – a blend of luxury residential living with innovative public spaces – is completed and almost sold out. Situated at 181 Adelaide Terrace, the former location of the old Fairlanes Bowling Alley, the $160 million, 27-storey mixed residential and commercial tower development features 128 apartments. Almost all have deposits, including one of the penthouses, valued at $2.5 million. In addition to the luxury apartments, Fairlanes Perth features 7,000 square metres of office space over five levels, and an extra 600 square metres of ground-floor retail and food space. […]

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Brookfield Multiplex Completes Tyree Energy Technologies Building

In late April, construction giant Brookfield Multiplex completed the finishing touches on the Tyree Energy Technologies Building at Sydney’s University of New South Wales (UNSW). The massive $85 million undertaking involved the construction of a 15,000 square metre, six-level building, a centre which will combine leading edge research facilities with significant space for teaching and work with the sustainable energy technologies. With a considerable number of environmentally friendly initiatives – such as heat recovery systems, 1,100 square metres of the latest roof-mounted solar cell technology, low energy displacement cooling, and a gas-fired tri-generation plant – both Brookfield Multiplex and the […]

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Connors River Dam Gets Environmental Approval

The construction of the Connors River Dam and Pipeline Project recently received Federal Government approval of the Environmental Impact Statement (EIS). The go-ahead marks a significant milestone for SunWater and Central Queensland, as the project has been hailed as a solution to the area’s water supply needs. Once completed, the $1.2 billion project will see the construction of a 373,662 megalitre capacity dam, along with a 133 km-long pipeline spanning the dam to Moranbah. “The EIS approval is subject to the strict conditions outlined in reports created under the bilateral agreement between the State and Federal Governments,” said SunWater Chief […]

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AU House Prices, Sales a Mixed Bag

Across much of Australia, information surrounding house prices and sales continue to be conflicting. Recently released figures show that house prices across the nation increased marginally by 0.9 per cent, according to data from Australian Property Monitors. While the increase is slight, it is nonetheless significant, as it marks the second consecutive quarter of growth after a full 15 months of falls. The big winner was Sydney, which saw median unit prices rise by 2.5 per cent. In terms of housing price increases, all capital cities saw a rise, with the exception of Brisbane and Adelaide. Many industry analysts agree […]

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$120 Million Esperance Port Access Corridor Underway

Work will soon commence on the Esperance port access corridor, a project aimed at creating further development in the Great Southern region, and keeping pace with the expanding resources sectors. In addition to eliminating conflict between road and rail through the removal of two level crossings, the corridor will feature two new overhead bridges, making it easier for locals to walk and drive around the town. “It [the corridor] will ensure that road and rail access and port capacity keep pace with the growing resources sector, while preserving the safety and livability for local residents,” said Federal Infrastructure and Transport […]

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More Infrastructure Projects Needed in Victoria

According to forecaster BIS Shrapnel, non-residential construction in Victoria will be in a state of decline for the next two years. Since the Global Financial Crisis (GFC) of 2008, non-residential building has seen many ups and downs across the nation. From 2011 to 2012, non-residential building in Victoria fell 12 per cent, and is anticipated to decline another six per cent this financial year; nationally, however, non-residential building is expected to rise by 10 per cent, but predicted to fall in 2012 to $29.4 billion. The forecasts from BIS Shrapnel come as Victoria finds itself under pressure to green-light infrastructure […]

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Construction Giant Penalised $300,000

Australian construction giant Leighton Holdings is being targeted for a multi-million dollar class-action lawsuit for allegedly failing to inform the market regarding losses on its Brisbane airport link toll road. The company was recently penalised $300,000 by the Australian Securities & Investments Commission (ASIC) following a $907 million downgrade, and has stated it will “vigorously defend any class action.” According to ASIC, the company waited to disclose writedowns on three of its large projects, which resulted in losses and a significant drop in the price of its shares. ASIC is the Australian corporate, markets and financial services regulator, and an […]

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Lowered House Prices Good for Some, Bad for Others

They may be separated by distance, but North Booval in Queensland, Mittaggong in New South Wales, St Kilda West in Victoria and seven other areas in Australia have one thing in common: all have experienced a significant drop in the price of houses. Recently released figures for the Top 10 median price drops in percentage terms for 2011 reveal that from Australia’s flood regions to luxury suburbs, house prices have in some cases been slashed by almost 50 per cent, signaling big news for construction companies, property developers, realtors, and home sellers. Figures from RP Data released in March show […]

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The Golden Years

In many nations around the world, life expectancy is dramatically on the rise, and Australia is no exception. Depending on gender, where one resides and other considerations, Australian boys born in 2013 to 2015 are expected to live to 80.4 years, while girls born during the same time have an expected lifespan of 84.5 years, according to the Australian Institute of Health and Welfare. Compared to the time period between 1881 and 1890, both boys and girls born today can expect to live much, much longer than their ancestors, approximately 33 and 34 years longer…

May 23, 2017, 10:30 PM AEST

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2017-05-23 16:10