construction

Australia: A canary in the coal mine

Chris Watling

Structurally, Australia’s growth model has been deteriorating for most of the past two decades and is now arguably one of the poorer examples in the developed world. In the years of the last commodity bull cycle, instead of saving in its ‘times of plenty’, Australia funded a large consumption and... Show More

Australia’s infrastructure boom is coming

Patrick Poke

As the housing construction boom comes to an end, the obvious question for investors is ‘where next?’ One potential opportunity lies in transport infrastructure construction, which is poised to double over the next few years. Between roads and rail, annual spend is expected to increase to $16B by 2020. Show More

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Re-rating of European stocks on the cards

Peter Wilmshurst

We know Europe has been through a touch economic cycle over the last few years since the GFC. That's somewhat on the mend now. Once the European earnings come through, the markets will start to appreciate that and reward those stocks - both with a re-rating as well as seeing... Show More

Time to plan for a recession? How to position for it?

Guy Carson

Back in 2007, a US economist called Edward E. Leemer published a paper entitled “Housing IS the business cycle”. In this paper he studied the causes of every US recession since World War 2, of which there had been 10. What he discovered was that 8 out of the 10... Show More

What to watch with housing

Livewire Exclusive

With residential property prices starting to misfire, we reached out to three experienced property investors for their perspectives on the market. We posed the question: “What do investors need to watch for in coming months, and why?” Read on below as to why you need to keep a hawk’s eye... Show More

What makes home-builder NVR great

Peters MacGregor Capital Management

The investment team takes a look into what makes US home builder NVR great. This company is the 4th largest home builder in the United States and focuses on first-time buyers on the East Coast. The success story of NVR really starts 25 years ago. Show More

New Zealand’s building boom – will it be ‘stronger for longer’?

Nikko Asset Management Australia

Construction is booming in New Zealand, supported by a reasonable economy, strong net migration, tight supply and low interest rates. Show More

Housing foundations are starting to shake

David Bassanese

The surprisingly large fall in home building approvals in November 2015 is a warning shot for those sailing on a sea of complacency with respect to the Australia’s economic outlook. We have previously warned of downside risks to the economy in 2016 due to the housing sector. While many analysts... Show More

Australia real estate construction housing building approvals

Building blocks in place

Wilson Asset Management

Building products suppliers CSR (ASX: CSR) and Boral (ASX: BLD) both made strong announcements this week. On Wednesday, CSR reported a 32% jump in underlying interim profit to $92.4 million, its seventh consecutive year of earnings growth. Boral management at its AGM said continuing growth in building approvals had allowed... Show More

How long do you want to play the housing cycle?

Livewire News

Sean Fenton from Tribeca Investment Partners has explained the headwinds he perceived to be facing the property and construction sector. “It's a little too early to go short but it's definitely time to start thinking about how long you want to be playing the housing cycle. It will take a... Show More

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Kubota – Outlook remains positive and QMG data supportive

QMG Insight

North America construction remains a key catalyst, with solid demand for construction equipment on the back of positive momentum in the US housing market...Agricultural equipment remains under pressure based on the most recent QMG data, however volume trends are encouraging...Kubota’s Ag sales have not slowed in line with their peers.... Show More

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7 key macro factors to watch this earnings season

Clime Asset Management

7 key macro factors will influence this earnings’ season, but how honest will companies be about their impact? We want to see some integrity in the presentation of results this earnings season, with companies being honest about how macro factors affected their performance and outlook. Companies are often keen to... Show More

Although the total value of Building Work Done declined by 0.9 percent in chain volume measures terms in Q3 2014 to $22,287m to be only a moderate 5.1 percent...

Pete Wargent

Although the total value of Building Work Done declined by 0.9 percent in chain volume measures terms in Q3 2014 to $22,287m to be only a moderate 5.1 percent higher over the year, the flow of residential projects in the pipeline is now starting to bear fruit. All four of... Show More

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The detail of the ABS Construction Work Done release sounded two very significant alarm bells

Pete Wargent

The detail of the ABS Construction Work Done release sounded two very significant alarm bells. Firstly, as an input into the Q3 National Accounts declining engineering construction - particularly in Western Australia & Queensland - is set to act as a significant drag on the economy over the years ahead. And... Show More

Australia property construction

The ABS Q3 Residential Property Price Indexes recorded Sydney dwelling price growth of 14.6% y/y. Housing market economics holds that after a 6 year stretch...

Pete Wargent

The ABS Q3 Residential Property Price Indexes recorded Sydney dwelling price growth of 14.6% y/y. Housing market economics holds that after a 6 year stretch of dwelling price growth we should be seeing a significant dwelling supply response, yet to date it has not transpired in Sydney, although much construction does... Show More

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Lend Lease (LLC) | Government backed recovery - maintain Quant Buy ($17) | We maintain LLC as a Quant BUY while upgrading the Quant Target Price (QTP) to...

Mathan Somasundaram

Lend Lease (LLC) | Government backed recovery - maintain Quant Buy ($17) | We maintain LLC as a Quant BUY while upgrading the Quant Target Price (QTP) to $17.00. Forward PE band valuations (FIG.1) shows that LLC is trading just above fair value (i.e. 12.55 PE or $14.07). We continue... Show More

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Adelaide Brighton (ABC) | Construction exposure with yield - Easy as ABC | We rate ABC as a Quant BUY with $3.85 Quant Target Price (QTP)

Mathan Somasundaram

Adelaide Brighton (ABC) | Construction exposure with yield - Easy as ABC | We rate ABC as a Quant BUY with $3.85 Quant Target Price (QTP). ABC is an integrated construction group with quality management that has a track record of delivering. ABC is now trading below long term fair... Show More

growth construction yield baillieu holst

Low interest rates have led to rising house prices and new homes....

AMP Capital

Low interest rates have led to rising house prices and new homes..... but is it too hot? Our Chief Economist, Shane Oliver, takes a look: http://www.ampcapital.com.au/article-detail?alias=/olivers-insights/April-2014/Australian-housing-to-the-rescue-%E2%80%93-but-is-it-too-h Show More

construction housing

Lend Lease Group (ASX:LLC) took out top spot in a housing construction survey after winning $2.4 billion in contracts in FY2013

Livewire News

Lend Lease Group (ASX:LLC) took out top spot in a housing construction survey after winning $2.4 billion in contracts in FY2013. The Housing Industry Association-Cordell Construction 100 survey found Australia's largest 100 construction contractors and non-residential builders won contracts worth $35.8 billion in 2013. In a statement, HIA said this... Show More

Australia construction

The day ahead - The ABS releases construction work figures for the first quarter

Livewire News

The day ahead - The ABS releases construction work figures for the first quarter. The Commonwealth Bank and Housing Industry Association's housing affordability index for the March quarter is also out. Show More

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