Money Sydney jobs boom puts pressure on transport and house prices

14:42  09 november  2017
14:42  09 november  2017 Source:   Sydney Morning Herald

Sydney is leading what looks like a slowdown in the Australian housing market

  Sydney is leading what looks like a slowdown in the Australian housing market October was another soft month for Australian house prices, continuing the trend seen in August and September. October was another soft month for Australian house prices, continuing the trend seen in August and September.

Dreamworld is over after Ardent Leisure boss walks away from m share bonus. Sydney jobs boom puts pressure on transport and house prices .

Most Popular. Dreamworld is over after Ardent Leisure boss walks away from m share bonus. Sydney jobs boom puts pressure on transport and house prices .

Voters outside of a growing, global Sydney feel like they are being left behind, says Labor's John Graham.© Michel Bunn Voters outside of a growing, global Sydney feel like they are being left behind, says Labor's John Graham. Sydney has added nearly half a million jobs in the past decade but patterns of employment growth are putting the city's transport system under pressure and helping to drive up property prices.

A yawning employment gap between city and country has also been revealed by analysis of the latest census data by the consultancy SGS Economics and Planning.

This urban-rural jobs divide looms as a lasting economic challenge for the state.

The report reveals Sydney's inner suburbs have accounted for a disproportionate share of employment growth.

Sydney house prices just saw their biggest drop in 18 months -- and more falls are expected

  Sydney house prices just saw their biggest drop in 18 months -- and more falls are expected Australia's housing market is slowing down, led by its largest city, Sydney. Australia's housing market is slowing down, led by its largest city, Sydney.

Meanwhile, the strong link between rising commodity prices and domestic demand in the economy has weakened, undermining the boost from that channel. Sydney jobs boom puts pressure on transport and house prices .

blog 'derrickfox.blogdetik.com' is not exists. Integrating Seaports and Trade Corridors ( Transport and Mobility) epub pdf txt.

The proportion of the city's jobs in the "inner Sydney" statistical area, which includes the cental business district and its immediate surrounds, swelled from 20.6 per cent to 22.4 per cent between 2006 and 2016. That relatively small urban region alone added nearly 140,000 jobs in that period.

While the increasing concentration of employment in Sydney's key jobs hub has generated economic benefits, it is also placing strain on the transport network.

The report warned road and rail congestion "will only worsen in future" without better management of population and employment growth.

Sydney house prices continued to fall in early November

  Sydney house prices continued to fall in early November Australian house price growth continues to stall, maintaining the trend seen in October. According to CoreLogic, house prices across Australia's five mainland state capitals were unchanged last week in average weighted terms, leaving the decline over the past four week's at 0.1%.© Provided by Business Insider Inc Despite a modest bounce in its preliminary clearance rate in early November, weakness in Sydney continued to drag down the national average with prices in Australia's largest and most expensive housing market falling 0.1% over the week.The soft result in Sydney offset a 0.

blog 'alonzocruz.blogdetik.com' is not exists. Russian Transport : Problems and Prospects (Post-Soviet Business Forum)

Sydney jobs . Showing jobs 0 - 0 of 0. Job ID and Title. Location. Category. Posted On.

As more people choose to live close to high quality employment opportunities, demand for housing in inner city locations increases placing pressure on property prices and housing affordability.

"Policy needs to respond to these challenges, such as through improving public transport capacity and infrastructure, or through increasing housing supply in inner areas," the report said.

It also drew attention to a growing employment divide between city and country.

While Sydney added 342,000 jobs between 2011 and 2016 the census figures showed employment in the remainder of NSW fell by 17,000 in that period.

The report's author, economist Terry Rawnsley, said the economic gulf between Sydney and other parts of NSW was a growing policy problem.

"The challenge for NSW is to connect the vibrant Sydney economy with the state's regional centres so you can help spread jobs growth," he said.

Australia shares set to edge higher; New Zealand down

  Australia shares set to edge higher; New Zealand down Australian shares are expected to tick up on Thursday, taking cues from Wall Street which closed at a record high, though lower commodity prices might weigh on the index. Oil prices settled slightly lower on Wednesday after U.S. government data showed rising domestic crude production, while the price of aluminium slipped further as investors judged its recent rally as being mainly driven by speculators rather than supply/demand factors. [O/R] [MET/L]The local share price index futures (YAPcm1) rose 0.2 percent, or 12 points to 6,010, a 6.3-point discount to the underlying S&P/ASX 200 index (.AXJO) close.

blog 'caraberry.blogdetik.com' is not exists. Gregorys Sydney 2004 Street Directory: Large Print: 64843 eBook.

Job losses in the resources industry have already put pressure on Western Australia's housing sector. "There's a clear risk that falling house prices may be the next phase in the post-commodity- boom adjustment story."

High-speed intercity public transport would help.

"If you could move people more quickly from places like Wollongong, Newcastle and Gosford into Sydney that would give people more access to jobs," Mr Rawnsley said.

Nationally, the census showed over 900,000 jobs were created in five state capitals – Sydney, Melbourne, Brisbane, Adelaide and Perth – between 2011 and 2016. But the rest of Australia saw a net increase of only 5400 jobs in that period.

"These numbers just reinforce the weakness in the jobs market across many regional areas, while the big cities, in particular Sydney and Melbourne, are booming," Mr Rawnsley said.

Total employment in Greater Sydney reached 2.2 million by 2016.

The construction industry contributed the biggest share of Greater Sydney's employment growth 2011 and 2016 (20 per cent) closely follow by health care and social assistance (up 19 per cent). Growth in knowledge industries jobs, especially professionals and financial services workers, was also robust especially in and around the CBD.

In regional NSW solid employment growth in the heath and social assistance (+15,820), construction (+6963) and education (+4525) between 2011 and 2016 was more than offset by big falls in manufacturing (-29,892), wholesaling (11,097), and retail trade (14,671).

Hasty interest rate hikes could trigger a property crash, UBS warns

  Hasty interest rate hikes could trigger a property crash, UBS warns As property prices come off, but wages fail to grow, people are much more sensitive to interest rate hikes, says UBS.The end of the nation's world record housing boom and the drawing down of household savings has caught the RBA in an interest rate trap, says George Tharenou, chief economist at UBS.

Error. Account suspended.

The Sydney Morning Herald. News site of the year. Business. Jobs in the booming mining sector account for only around 1.5 per cent of total employment, but it indirectly supports many more jobs through the wealth it generates.

When The Herald sought the state government's response to the gloomy census employment figures in regional NSW a spokeswoman for the Treasurer, Dominic Perrottet, cited alternative jobs data from the Bureau of Statistics' labour force survey which shows "more than 90,000 jobs" were added in the state's regional areas between September 2011 and September this year.

"Regional NSW is a jobs powerhouse," the spokesperson said.

But in a sign of concern about the economic performance in regional areas, the NSW Legislative Council's Standing Committee on Sate Development recently launched an inquiry into how Sydney's economic success can contribute more to the regions.

A Labor member of the committee, John Graham, said the new census employment figures tell the economic story behind big swings against the government in a series of recent by-elections in regional NSW.

"Voters outside of a growing, global Sydney feel like they are being left behind," he said.

The strongest employment growth in regional areas was in the health and education sectors where many jobs require a relatively high level of educational attainment.

The biggest losses were in manufacturing, wholesale trade and retail trade where required skill levels are often lower.

Nationally, almost a quarter of new jobs added between 2011 and 2016 were in health care and social assistance assistance (153,900) making it the strongest contributor to employment growth across Australia in that period, including in most capital cities.

The effects of population ageing were evident with more than 30,000 new jobs coming in residential care which includes nursing homes. There was also strong employment growth in the education and training sector.

Secret suburbs where rent prices are dropping .
As the property market gets increasingly competitive, securing an affordable rental can be extremely tough. But now, there's some much-needed good news for Aussie tenants.Exclusive data - obtained by A Current Affair from RealEstate.com.au - shows weekly rental prices for homes and apartments in many suburbs have plunged by as much as 15 percent in the past year alone. Even better - they're all still relatively close to the CBD's of Brisbane, Sydney and Melbourne.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!