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Macarthur Regional Organisation of Councils

Camden, Campbelltown, Wollondilly

 

Media Release - Investment remains strong in Macarthur

December 13, 2007

The value of non-residential building approvals in the Macarthur region rose 247% over a year to reach $72.5 million in September Quarter 2007. Campbelltown contributed $34.4 million to the growth in the September, followed by Camden ($32.8 Million) and Wollondilly ($5.3 million). 

The President of MACROC Councillor Rob Elliott said, "the increase in non-residential construction bodes well for future employment growth in the region.”

"The residential market however remains soft as evidenced by static median house prices in Camden and Campbelltown and a 1.5% growth in Wollondilly over a year to June Quarter 2007. By contrast, median house prices in Sydney Metro area and NSW rose 4.2% and 3.0%." 

"Demand for new houses appear to be weak as reflected in a 22% decline in building approvals over a year to the September Quarter 2007. During this period, however, there was a four-fold increase building approvals for other dwellings (i.e. flats and units)."

"The unemployment rate in Macarthur rose slightly to 6.8% over a year to June Quarter 2007, partly due to an increase in the labour force. The jobless rate for the Region, which has trended higher than the NSW and Sydney Metro rates since June 2005 appears to have peaked."

Every quarter MACROC publishes the Macarthur Economic Profile to keep businesses and residents informed of current economic conditions and emerging trends in the Macarthur region. The document can be downloaded from the MACROC website – http://www.macroc.nsw.gov.au/articles/templates/articles.aspx?articleid=67&zoneid=3
 
Media Contacts:
Rob Elliott
President
Mobile: 0407191452