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New apartments see weakest result since mid-2012

“THE VOLUME of new apartment building is smaller than at any time since July 2012,” according to Master Builders Australia’s chief economist Shane Garrett. 

Just released figures from the ABS show that new home building approvals lost another 8.4 percent during December 2018. Detached house approvals were down by 2.1 percent but approvals for new apartments/units dropped by 18.6 percent during the month. 

“Today’s ABS figures complete the full 12-month picture for 2018. For the year overall, the volume of new home building approvals was pretty strong with over 212,000 permits issued for new dwellings. This was down only modestly (-5.6%) compared with the 2017 total,” Shane Garrett said. 

“More worrying is the pace at which approvals have been falling back over more recent months. During the final three months of 2018, total approvals were 23.7 percent lower than a year earlier – with apartment approvals suffering a 40.1 percent reduction over this period.

“Faltering new home building activity has been occurring against the backdrop of falling house prices, the Royal Commission’s work and uncertainty about what housing policy will look like after May’s Federal Election,” Mr Garrett said. 

“Clearing up some of these uncertainties would help get the housing market back on its feet." 

During December, new dwelling approvals increased in three markets including South Australia (+5.6%), the Northern Territory (+1.7%) and Western Australia (+1.1%).

The largest reduction in approvals hit Tasmania (-24.3%) followed by the ACT (-21.3%). The volume of approvals also declined in New South Wales (-8.6%), Victoria (-8.1%) and Queensland (-5.8%).

www.masterbuilders.org.au

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Hearing: It's a long way to the top if you want to rock and roll

THE HOUSE of Representatives Standing Committee on Communications and the Arts will hold a public hearing in Brisbane on Wednesday, February 6, and a public hearing in Canberra on Wednesday, February 13 for its inquiry into the Australian music industry. 

The chair, Luke Howarth MP, said that the committee is continuing to examine the potential for continued growth and the factors affecting the success of the Australian music industry, both domestically and internationally. 

"Artists are the heart and soul of the industry. Without Australian artists there would be no Australian music industry. Australians are known for pushing the boundaries of music in their fields, combining musical excellence with fresh, bold, and innovative ideas," Mr Howarth said.

The committee will hear from a range of Australian songwriters, composers, and performing artists. 

Mr Howarth explained that, "As Australian band AC/DC famously put it, 'it’s a long way to the top if you want to rock and roll'. At this hearing, we will hear from Australian artists regarding their experiences and the challenges they face during that climb to the top."

On Wednesday February 13, the committee will hear from the Department of Communications and the Arts. 

The public hearings will be broadcast live on the web (audio only).

Public hearing details:

BRISBANE
Date: Wednesday, 6 February 2019
Time: 9.30am to 12.45pm
Venue: Undumbi Room, Queensland Parliament House, Crn George and Alice Streets, BRISBANE


CANBERRA
Date: Wednesday, 13 February 2019
Time: 12.40pm to 1.20pm
Venue: Committee Room 1R6, Parliament House, CANBERRA


Programs for the hearings are available on the committee’s website.

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Strategic policy grants boosting Australia's national security - Pyne

THE Department of Defence has awarded $8.719 million (exclusive of GST) in grants over three years to fund projects by think tanks and academic institutions that contribute to the national security debate in Australia.

Minister for Defence, Christopher Pyne said the annual Strategic Policy Grants Program was designed to support original initiatives that help inform Defence’s strategic policy advice, as well as support more public discourse on defence and security issues.

“Australia’s security can be strengthened by more rigorous debate between policy‑makers, think tanks, scholars and the broader public. Defence’s Strategic Policy Grants Program helps ensure that our best minds make valuable contributions to that debate,” Minister Pyne said. 

The competitive selection process attracted 59 applications from Australia and overseas. This year’s grant recipients are:

  • · Australian Member Committee of the Council for Security Cooperation in the Asia Pacific (Aus-CSCAP), Canberra
  • · Center for Strategic and Budgetary Assessments (CSBA)
  • · The Center for Strategic and International Studies, Washington
  • · China Matters
  • · Flinders University, Adelaide
  • · The Institute for Regional Security, Canberra
  • · The International Institute for Strategic Studies, Singapore
  • · L21, Sydney
  • · The Lowy Institute
  • · Macquarie University, Sydney
  • · The National Bureau of Asian Research, Washington DC
  • · National Security College, Australian National University, Canberra
  • · RAND Australia, Canberra
  • · The Royal Institute of International Affairs (Chatham House), London
  • · Royal United Services Institute for Defence and Strategic Studies Australia, Canberra
  • · SAGE International Australia, Adelaide
  • · The Strategic and Defence Studies Centre, Australian National University, Canberra
  • · The United States Studies Centre, University of Sydney, Sydney
  • · The University of Adelaide, Adelaide
  • · The University of New South Wales, Canberra.

"I offer my congratulations to the successful applicants and look forward to their valuable contributions to strengthening Australia’s national security," Mr Pyne said.

www.defence.gov.au

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Queensland coal reserves revised upwards as resources exploration gets a boost

THE Queensland Resources Council (QRC) has welcomed the Palaszczuk Government’s decision to award tenders for the exploration of coal in the Bowen and Surat basins and minerals in the North West Province.

QRC chief executive Ian Macfarlane said the announcement by Mines Minister Dr Anthony Lynham showed the strength of the resources sector, and the opportunities that are literally at Queenslanders' feet, including through a new higher estimate of the extent of Queensland’s coal reserves.

“The Queensland resources sector powers our economy. It adds $62.9 billion to the Queensland economy, supports more than 316,000 jobs across the state, and directly pays $5.2 billion this year in royalty taxes to the State Government. Those royalty taxes build roads, schools and hospitals and pay the wages of nurses, teachers and police,” Mr Macfarlane said.

“Queensland has always been a resources powerhouse, but there is no room for complacency.  It’s essential that we continue to encourage new exploration which will lead to the next round of investments. Our jobs of the future depend upon it.

“Our annual QEC Exploration Scorecard in 2018 found coal exploration had increased for the first time since 2011-12, going up by 27 percent and mineral exploration expenditure rose 35 percent, and petroleum exploration expenditure was up by 5 percent.

“The most fundamental part of our future resources strength is investment in new prospects and by responsibly developing our resources we’ll give all Queenslanders access to the opportunities of working in the our great sector.

“Only stable and predictable policy will ensure investment in exploration leads to new investment, new jobs and new exports for Queensland.”

The State Government said junior explorer Red Metal Limited will explore for zinc, lead, copper and silver deposits across 400 square kilometres of land located 250km north of Mount Isa. And four companies – Denham Coal (a wholly owned subsidiary of Pioneer Coal), Queensland Coal Investments Pty Ltd, Enex Togara Pty Limited and Wandoan Holdings Pty Limited will soon be able to commence exploratory work over 369 square kilometres of land in the Bowen and Surat basins. These areas are located near Moranbah, west of Mackay,  Blackwater west of Rockhampton and Taroom, west of Maryborough close to existing mines or mining leases.

Separately, a new geological report found Queensland’s untapped coal deposits were almost double than was last reported with 63 billion tonnes of raw coal which is an increase of close to 29 billion from the previous estimate. 

“Our cities and our regions have been built by the resources sector, and there’s still so much potential,” Mr Macfarlane said.

“Despite activists claiming Queensland is running out of coal the facts prove the opposite with tens of billions of tonnes of coal in reserve including more than 14 billion of coking coal which is used to make steel needed for building the world’s infrastructure.

“We must ensure that Queensland has consistent, transparent and stable regulations that give all projects a fair go, in order to turn our enormous potential into a reality.”

ww.qrc.org.au

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Resources driving exports, jobs and royalty taxes

THE VALUE of Australia’s resources and energy exports have helped drive a 4.4 percent increase in the price of export for the December quarter, with strong growth in coal and LNG exports said the Queensland Resources Council (QRC).

Queensland Resources Council chief executive Ian Macfarlane said the data released by the Australian Bureau of Statistics showed the export price index for national coal exports increasing by 3.7 percent while LNG soared by 8.6 percent. 

“This should come as no surprise after Queensland coal and LNG exports broke records in calendar year 2018,” Mr Macfarlane said. 

“Total coal exports reached 223 million tonnes (mt) surpassing the last record by 2mt set in 2016 while Queensland LNG from the Port of Gladstone set a new export record of 20.58mt.

“Every tonne of coal and all resources exported brings in royalty taxes, which help pay for Queenslanders’ roads, schools and hospitals, and pay for the teachers that educate our children, the nurses and doctors who look after our health and the police force that keeps us safe.

“Combined royalty taxes from resources will pour a record $5.2 billion into the Palaszczuk Government’s coffers this financial year.

“It’s more good news for jobs in resources with the latest data showing 10,200 roles were created nationally over the November quarter which is more than a 4 percent increase -  the highest total employment since May 2014.

“The Queensland resources sector has created 10,000 jobs over the past year – that’s a new job every 40 minutes.”

www.qrc.org.au

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