City v Country

City v CountryNewcastle has definitely found its mojo. Over $100 million worth of public works are underway to reconnect the city with the waterfront. Over $1 billion worth of property development has commenced or is approved. And for the first time in over a decade, there are several cranes in the sky.It’s now time for the Hunter Valley to be given a pathway to growth. Development approvals like the $400 million expansion of The Vintage, 60km north-west of Newcastle in the Hunter Valley’s famous wine country show promise, but much more needs to be done to provide jobs and housing for regional NSW’s fastest growing population.The biggest risk to maintaining the Hunter’s current trajectory is the dramatic decline in housing affordability. Supply has been dropping steadily over the past decade and the cumulative shortfall now exceeds 12,000 homes. Investors have been reluctant to undertake greenfield residential development on the urban fringes and sub-regional centres. They need more certainty over the region’s strategic direction, more coherent infrastructure provision, and a smarter approach to developer contributions.In 2015, the Property Council’s Hunter Chapter will turns its focus “up the valley”, with a view to convincing policy makers of the need to fast-track completion of a Regional Growth Plan with an embedded infrastructure delivery schedule. That campaign kicks off on Friday 6th February at Hunter Outlook ’15 with an analysis of how to close the gap between city and country.Join our panel of experts as they analyse the divide between Town & Country and forecast what property markets will do across the Hunter in 2015. To register click here.