From the CEO
Is that a light at the end of a seemingly never-ending tunnel? News today that construction cost growth is expected to slow in 2023 as global supply chain pressures ease and inflation starts to rail demand back is a reason for us to have hope that we can again press the go button on much needed projects sooner rather than later.
The forecast construction yearly tender price changes released by RLB show that Perth can expect a further reduction in construction cost growth in 2023. This news is welcome after we saw today that the State Government has had to defer the progression of the highly anticipated Common Ground project due to being unable to demonstrate value for money in the current market.
In a further blow to desperately needed housing supply, opening our minds to innovative solutions to the efficient delivery of affordable housing is critical. Our newly minted Federal Government needs to harness the brains trust across the country and ensure that their upcoming National Housing and Homelessness Plan leverages the States existing asset base and land banks to prevent a critical shortage becoming a full blown crisis. As in the minds of many Australians, we are already there.
Council Nominations now open
UDIA WA are currently calling for nominations to join the UDIA WA State Council, which sets the strategic direction and policy priorities of the organisation. It is the Council’s responsibility to ensure it governs with excellence and effectively oversees the performance of the business through the Chief Executive Officer.
There are 12 members of Council that are appointed by nomination from member representatives, with a minimum of six to be Developer Members.
Terms are two years, with the option for current Councillors to re-nominate. Nominees must have extensive experience in senior roles, with a sound understanding of corporate governance.
This year, there are four positions available for nomination with the current term expiring for Jane Bennett (CLE Town Planning + Design), Paul Morgan (PEET), Danielle Davison (Davison Advisory) and Richard Pappas (Celsius Property).
If there are more nominations than the number of positions available, a full election will be held via electronic voting. Only Developer, Associate and Life Members are eligible to vote. A Deemed Election OR General Election will then be announced on 12 September 2022.
Nominations close at 5:00pm on Monday 22 August 2022.
Click here to nominate.
UDIA WA is also pleased to announce that our Annual General Meeting will take place on Wednesday 26 October 2022 at the UDIA WA offices from 12:00pm.
2022 Nominated Projects announced
This week saw the start of the judging site visits for the UDIA WA 2022 Awards for Excellence and with this now fully underway, UDIA WA are delighted to share the Nominated Projects booklet which details all of the incredible projects entered in this year’s Awards.
Take a look at the Nominated Projects here.
The finalists and the winners will be announced at the 2022 UDIA WA Awards for Excellence Gala Dinner being held at Crown Perth on Saturday 17 September 2022.
If you worked on a project that has been nominated, we encourage you to show your support for your clients and the nominated projects by joining us at what is set to be the WA development industry’s night-of-nights, attracting over 500 key players in the industry.
Book your spot here.
Urban Intelligence
On Monday, UDIA WA released the latest edition of our monthly Urban Intelligence report which includes our economic and residential property market update for June 2022. This edition also includes a feature Census Spotlight that highlights key insights from the 2021 Census, including:
Plus all the usual residential property and land data:
Urban Intelligence is available exclusively for members, log in to access it here.
Home in WA features Fremantle revitalisation
On Sunday the latest Home in WA episode was broadcast on Channel 7, with this episode including a feature from UDIA WA looking at the revitalisation of Fremantle.
Fremantle has been undergoing a revitalisation in recent years and there is a lot happening from the historic Victoria Quay and the new Gage Roads brewery to many new rooftop bars, boutique hotels and residential developments. At the heart of Fremantle’ transformation is Walyalup Koort and the new cultural hub FOMO.
We were pleased to speak directly with the Mayor of Fremantle Hannah Fitzhardinge in this special feature segment.
To view the latest episode, click here.
Home in WA are UDIA WA’s Media Partner, if you would like to have your business featured on the show and enjoy a 10% discount off your first story, reach out to Executive Producer Ron at dingoistalent@bigpond.com.au and quote UDIA for more information.
What does an Institute award mean to you?
UDIA National are keen to get members’ feedback on the Institute’s state and national awards and what they mean for your organisation.
Have your say on the awards program and what goes into your decision to enter an award.
Please take 2 minutes to complete our survey. Survey closes 5pm, Friday 29 July.
Click here to complete the survey.
Spotlight on Civil & Essential Infrastructure
The strategic and timely delivery of essential infrastructure is pivotal to the roll out of quality, affordable and well-planned urban development to meet the needs of a growing population.
Join the discussion at this UDIA industry breakfast to unpack the current challenges facing infrastructure planning and delivery, particularly given the current backlogs due to high demand for new homes, materials and labour shortages.
- How are these key infrastructure providers addressing current challenges and planning for future pressures?
- How can we ensure the strategic delivering of essential infrastructure to greenfield and infill developments to keep a lid on housing affordability?
- How can we achieve better coordination in relation to infrastructure roll out?
Featuring keynote presentations and an interactive Q&A panel session with key civil and infrastructure service providers: Pat Donovan CEO Water Corporation, Tamara Brooker Executive Manager Business and Customer Services Western Power and Shane Wormall Managing Director Wormall Civil.
Book your place for this breakfast here.
Inflation on the rise
Figures released by the Australian Bureau of Statistics (ABS) this week revealed that the Consumer Price Index (CPI) rose 1.8% in the June 2022 quarter and 6.1% annually.
Head of Prices Statistics at the ABS, Michelle Marquardt, said “The quarterly increase of 1.8 per cent was the second highest since the introduction of the Goods and Services Tax (GST), following on from a 2.1 per cent increase last quarter.”
The most significant contributors to the rise in the June quarter CPI were new dwellings (+5.6 per cent) and automotive fuel (+4.2 per cent).
Across the capital cities Perth recorded an annual CPI increase of 7.4%, the largest of all States and Territories but the 1.7% increase in the June 2022 was among the lowest quarterly increases in the country.
New report shines a light on WA and Perth’s affordability
A new report by Deloitte Access Economics has found the cost of living is more affordable in Perth and Western Australia than other major Australian capital cities.
The report, commissioned by the Department of Treasury, undertook a comparative analysis of the cost of living in Perth with other major capital cities of Sydney, Melbourne and Brisbane, and Bunbury with other major regional centres to help inform the WA Government’s strategy to attract and retain skilled workers to the State.
The report found that Western Australians benefit from significantly lower cost of living and high average household income relative to other parts of the country.
The analysis showed that the average Perth household spent an estimated $1,630 per week on the consumption of goods and services, including housing costs in 2021-22.
This was 24% lower than Sydney ($2,143 per week), 19% lower than Brisbane ($2,002 per week) and 10% lower than Melbourne ($1,805 per week).
At the same time, Perth holds the second highest median household income at $2,027 per week, second only to Sydney with an average of $2,146 and higher than Melbourne at $1,958 and Brisbane with $1,962.
The Deloitte analysis also compared cost of living using a number of metrics between Bunbury, Newcastle, Geelong and the Sunshine Coast. Similar to Perth, Bunbury enjoyed the lowest cost of living of these regional centres.
Applications open for timber from the historic One Mile Jetty
Timber salvaged from the $4.2 million partial deconstruction of the historic One Mile Jetty at Carnarvon is now available to individuals, groups and businesses seeking to repurpose it for use in the local community, and elsewhere.
The jetty suffered significant damage during last year’s Tropical Cyclone Seroja, resulting in a recommendation to remove all but the first 400 metres of the structure due to the risk to safe navigation.
Since the Department of Transport (DoT) completed the partial deconstruction of the jetty late last year, approximately 900 tonnes of salvaged timber have been assessed, sized and graded for appropriate reuse in the community.
The process for allocation of timber begins with an application which will be assessed by a panel consisting of the custodian of the jetty, the Carnarvon Heritage Group, the Shire of Carnarvon, Gascoyne Development Commission and DoT.
The timber will be gifted to projects with a demonstrated community benefit, and made available to others for sale with prices based on size and condition. The funds from the sale of the salvaged timber will be managed by the Carnarvon Heritage Group and used for the future repair and refurbishment of the remaining jetty.
To apply for timber, or find out more about the project visit here.
Expressions of interest for mentor program with first year Curtin Property students.
The Property Education Foundation are seeking expressions of interest for mentors who would like to be involved in a program that will be embedded into the assessment structure of the Introduction to Property Markets unit.
The commitment from mentors would include:
- A one-hour session where they will be introduced to the Introduction to Property Markets unit, the role of a mentor and to sign a consent form
- Liaising with students via email to arrange a suitable time and place to meet
- Meet for one hour with 3 and 4 students (simultaneously) in a public space, eg a café
- Following the meeting, provide brief feedback to the Unit Coordinator on student interactions.
- This is likely to take place in August/September 2022.
For more information or to submit an Expression of Interest, reach out to Tanya Steinbeck at tsteinbeck@udiawa.com.au.