Anaylst to PCA: Carbon Tax to Balloon Construction Costs Much Higher Than Anticipated

THE cost of building an office tower could rise 1.7 per cent under a carbon tax, substantially more than the previous estimates of between 0.2 and 0.5 per cent.

Building a 200 square metre home would also rise by 1.7 per cent, or about $18 per square metre, because of the tax, according to new research prepared for the Property Council of Australia, by adviser Allen Conosulting Group.

An initial price of $23 per tonne of carbon will be imposed on Australia’s top 500 carbon emitters from July 1, 2012. This will rise to $25.50 per tonne in the 2015 financial year.

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PCA Questions New Australian Population Strategy

A CONTROVERSIAL new population strategy – which sets no population target at all – has concerned peak property bodies.

The Gillard government’s first population strategy, Sustainable Australia, Sustainable Communities, is “political in nature’ according to the Property Council of Australia chief executive Peter Verwer, who added it contained “little more than motherhood statements, previously announced government initiatives and ongoing government programs.”

“This is not a detailed plan for managing population growth and to describe it as a policy or a strategy would be stretching credibility,” Mr Verwer was quoted as saying in The Australian. “We need to grow our population, which needs taxation revenue to fund vital services,” he added.

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PCA Appooints Nigel Satterley to Head Residential Development Council

Nigel SatterleyTHE director of Australia’s largest, independent, residential land developer – Nigel Satterley – has been appointed by the Property Councl of Australia to head the divisions Residential Development Council.

PCA executive director Caryn Kakas said in a statement “Nigel has made a significant contribution to the RDC board since he joined the membership, and I congratulate him on his appointment as chairman.”

“The RDC plays a critical role in advancing the understanding of issues surrounding the efficient and sustainable delivery of housing options for Australians by promoting public policy solutions to the challenges which threaten to undermine housing affordability.

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