Developers Consider Market Impact of Demographic Trends

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Developers Consider Market Impact of Demographic Trends

Media Release (Central Coast, Australia) – The state’s leading development industry body, the Urban Development Institute of Australia (UDIA) NSW, will host a luncheon in Wyong on Friday 15 November 2019 to hear how the Central Coast housing and employment markets will respond to infrastructure connections such as NorthConnex and faster rail.

The forum will be attended by professionals from the development industry. Media are welcome.

Title: ‘Who, Where & Why? The Changing Demographics of the Central Coast’
Date: Friday 15 November 2019
Time: 12pm for 12:30pm start, program to conclude 2:30pm
Venue: Mercure Kooindah Waters, 40 Kooindah Boulevard, Wyong

Speakers & Topics:

• Dr. Kim Johnstone, PHD MBA, Associate Director, Astrolabe Group. Dr. Johnstone will present on current net migration in the Central Coast and what will change with better connections to Sydney and Newcastle.
• Brett Hunter, MBA, BECivil, Director Raine&Horne, President-Elect REINSW. Brett is a Central Coast agent who also is the incoming President of the Real Estate Institute of NSW. Brett will present on current local development market trends.

Embargo 15 November 2019: Quotes attributed to UDIA NSW Central Chapter Chair Caine King:

“Opening up the Central Coast through the promised rail network and the Northconnex will not only give a boost in local jobs from this infrastructure, but the ability for residents of the Central Coast to have faster access to Sydney from CBD to the new airport.”

“We intend to take advantage of the new economic opportunities that comes with the opening of the Northconnex in 2020. Now is the time for the government to support growth in our region which will create more affordable housing opportunities for people in NSW.”

“Volumes on new house sales are down 12% for the year, and new unit sales down 26%, which will be a challenge for population growth trends. But early shoots of growth in local confidence are showing through the entry-level unit market, with several new developments reporting a rise in off-the-plan deposits.”

“Dwelling approvals are down on the Central Coast. New house approvals have fallen 31% over the year, with only 1,404 dwellings approved to August 2019. Apartment approvals have experienced the most significant decline, falling 67% to just 320, well below the peak of 1,016 in May 2018. We have to do better if we hope to stay on target to meet the Regional Plan’s goal of 2,000 new homes a year.”

– ENDS –


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