Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

State of Markets - NSW May 2012

01 May 2012 Reporter

Essential information, plus expert insight on what is shaping the national property market...

NEW SOUTH WALES

Central Coast to open up

A high speed rail line opening up the Central Coast to Sydney is once again a possibility, according to a recent forum.

Advertisement
Advertisement

Transportation experts, businesses and residents gathered recently to discuss the possibility of a line from Melbourne to Brisbane, with a stop on the Central Coast.

The stop would either be at Kariong or Ourimbah and would be important in opening up regional areas.

The line would cut the daily commute to Sydney to under half an hour, according to Regional Development Australia.

The first stage of a feasibility study for the project was released in August 2011 and suggested the Central Coast may be part of the network. The proposed plan includes a 120km stretch along the coast at a maximum cost of $17.9 billion.

Wollongong to promote industry diversification

Property investors concerned about the effects of the steel industry dying are well placed in Wollongong as there are new, emerging economies, the city council has said.

In another blow to the steel industry, OneSteel has announced it will cease manufacturing at its oil and gas pipe plant.

This follows Bluescope Steel’s culling its workforce late last year, with 800 workers and 400 contractors given the boot.

Business development manager for Wollongong council, Brenden Logue, says the city isn’t one dimensional, however: “We have a lot more to offer than just the perceptions of a steel-making city that we’ve had for the last 30 years.”

“We’re seeing a decline in the steel industry because of a strong Aussie dollar and cheaper international alternatives. So what we’re doing is promoting a diversification of industries,” Mr Logue said.

The Illawarra chairman of the Property Council, David Laing, agrees that Wollongong is moving forward.

“Consider the growth in our non-traditional sectors … export and importing services at Port Kembla [is becoming] a strong and growing health sector,” he said.

State of Markets - NSW May 2012
default
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

 

Subscribe to our RPM mailing list

 

Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.