API had a Trade Booth at the recent Careers Expo at Epic on 31 July and 1 August 2013. The feedback was that the lack of a Canberra-based online degree was a negative for potential new entrants. The thoughts of the Divisional Council are to raise awareness of the profession by contacting careers councillors directly. Thanks to volunteers, Martin Elliott, Maree Harman, Mia Draglia, Scott Shirren, Thierry Descombes, Jordan Hayes and Deanna Hancock for helping out.
Consultancy & Government
The API is consulting with the ACT Government, ESSD and ESD on the property market in the ACT. Members and Council are providing valuable feedback on market conditions, the operation of new LVC system and ACAT.
API ACT Excellence in Property Awards
The API Division has an Excellence in Property Awards scheduled for 13 November 2013. Another successful event is anticipated and all members are encouraged to be part of this enjoyable evening.
Residential Advisory Committee (RAC)
The API has representation at the RAC, with the most recent meeting on 28 February 2013. Issues discussed included the Government land sales program, residential land and building activity report, Territory Plan variations and changes to land rent with non-refundable deposits. Developers expressed concern about the single parcel release of Denman Prospect, believing it limits local purchasers. Finance representation from St George Bank advised that Banks was reporting about 50 per cent financing activity and limited mortgage lending.
Feedback from API members is welcome to enable the API to present any issues to the RAC that are of significance.
Land sales program
Some recent sales:
- 87 dwelling site in Franklin sold
- Holt multi unit site sold
- Coombs dwelling sites (35) sold
- Conder community site sold
- Hotel Kurrajong sold
- Blocks in Coombs to be sold via ballot (119)
- 103 land ready blocks available within Wright, Bonner and Jacka
- Mixed use site in Banks shops
- Watson 13 dwellings
- Section 2 Phillip sold with requirement for 850 car parking spaces
- MacArthur child care site
Less sites in the pipeline than September quarter (3,900 less, reportedly)
Planner’s pipeline includes 28,000 dwellings. The Government is revisiting the land release program to reflect a slowdown in demand. Currently about 19,000 dwellings over four years. Government advised there won’t be a significant decrease in proposed number of dwellings. But an increase in supply in greenfield estates such as Moncrieff, Throsby and Kinleyside, with Kenny pushed back due to water issues. Lawson to be released next financial year.
Commercial Advisory Committee (CAC)
The API also has representation on the Commercial Advisory Committee. The last meeting in August 2013 with feedback including softening demand for commercial and industrial development land; and high vacancy factors in most sub-markets.
Feedback from API members is welcome to enable the API to present any issues to the CAC that are of significance.