It’s hard to believe that the end of the year is nearly here already although it’s definitely not slowing us down. We are continuing our work in the Hunter with advocacy work around planning delays, RMS issues, mine subsidence, building reform and biodiversity to name just a few. We are also advocating for infrastructure that is crucial to the ongoing growth and capacity of our region and we’ve seen a number of great projects presented at our lunch events throughout the year. Next year is already shaping up to be a stellar year with our Hunter Central Coast Outlook event planned for Feb 7 so book in now for that one.
Before we enjoy some festive cheer we will be hosting Minister for Planning and Public Spaces the Hon. Rob Stokes at our final lunch for the year on December 13 so I hope to see you at this one.
You can head to our website to learn more about these events and the great work the Property Council is doing but please reach out to me if you’d like to catch up about the work you are doing in your own organisations and how we can work together to build a great 2020 for our regions.
Exciting new community space in the heart of Newcastle
There have been some big changes across Newcastle in recent years, with the former heavy rail corridor now dotted with new developments and vibrant public domain. The latest site to undergo transformation is the former Civic railway station, which has found new life as a green multi-use public space.
Created by NSW Government’s Hunter and Central Coast Development Corporation (HCCDC), the Museum Park project exemplifies the benefits of the rail corridor’s urban renewal.
HCCDC worked closely with the community and heritage experts to create an inviting, flexible public space with green lawns, shady trees and landscaped gardens. The site’s rich history has been retained, with significant materials reused and reinterpreted throughout. The station building has also received a facelift and will soon become local council’s visitor information centre.
An unbroken connection has been opened between Newcastle’s main street and its iconic waterfront, creating an inviting thoroughfare for CBD workers, as well as improving access to the city’s museum, new residential developments, as well as existing and future university campuses.
By introducing a mix of homes, jobs, retail and commercial space – along with the public domain to support it – the benefits of Newcastle’s urban renewal will continue to unfold for years to come.
L to R:
Dr Nigel Stapledon – Macroplan, Gavin Edgar – DOMA, Morven Cameron – Lake Macquarie City Council, Katrina Reye – Hall & Wilcox.
Our business lunch last month was a great event with our panel members providing a really interesting discussion around the current residential market in the Hunter with some great input specifically around the Lake Macquarie market.
Partner at Hall & Wilcox Katrina Reye facilitated the discussion with Dr Nigel Stapledon - Chief Advisor at Macroplan, Morven Cameron - CEO at Lake Macquarie Council and Gavin Edgar - General Manager of Development at Doma Group. ABS data, released in November showed that for the month of September, the value of new lending commitments rose for the fourth straight month nationally at 1.1 per cent while lending commitments for investment dwellings fell by 4 per cent. This is 45 per cent lower than its peak in January 2017. In NSW, lending commitments rose by 0.2 per cent.
In terms of building activity, the value of total building work done fell 5.5 per cent while dwellings approved, fell 0.8 per cent.
Reflecting on these stats and with great interaction from the floor, the panel navigated the residential market conditions in the Hunter, the outlook for the future and the barriers that are creating roadblocks to growth in the market, and more importantly, what the potential solutions may be.