Message from the CEO
We started the year with the major city housing markets still on the up-and-up, and many in the media asking if the bubble is about to burst. Not quite, if the recent sale at One Sydney Park in Alexandria is anything to go by. In the past couple of weeks, a three-bedroom apartment sold off the plan for more than $3 million, setting a price record for the suburb. MacroPlan conducted the residential market study for this $700 million master-planned community which is fringed on three sides by Sydney Park, one of the largest inner city parks.
Australia’s Entrepreneurialism Zone
A culture that supports entrepreneurship is an important driver of startup formation rates. As the digital revolution establishes itself, it creates new and exciting jobs and leading technological innovation. To take advantage of this fast-paced movement, strategic investment in an innovation-drawn economy at the right time of the ‘startup life cycle’ is key.
Predictions for the economy and property markets in 2018
Inflation, interest rates, employment and population growth will be the key drivers for property markets in 2018. These drivers are likely to create opposing forces in property markets with interest rates dampening demand and strong employment and demographic outcomes increasing demand.
‘Fast Five’ with Gordon Yoon, Senior Economist
Gordon joined MacroPlan as an Economics Consultant in 2015. Gordon has seven years’ experience in Economic and Financial Analysis, Land and Property Advisory Services and worked on a range of Land Development projects working previously with the Northern Territory Department of Lands, Planning and Environment, the Land Development Corporation, as well as the Power and Water Corporation.
MacroPlan Project of the Month: One Sydney Park in Alexandria
MacroPlan was engaged by McGrath Estate Agents to provide a housing assessment pertaining to a potential high-density development at a proposed site on Euston Road, Alexandria. McGrath Estate Agents approached MacroPlan with a request to further understand the opportunities and risks of the study site, competing projects, current and future market supply, price point analysis, buyer profiles, vacancy rates and rental demand.
A sense of (economic) scale
Australia’s economy ranks the 13th largest in the world right between Russia and Spain, but how do the states measure up? What if each of Australia’s states and territories was its own separate country?
The three largest state economies – New South Wales, Victoria and Queensland –would each rank in the world’s top fifty. Western Australia would be 56th and South Australia 72nd.