Why has pyrmont changed

All the speculation during the boom cycle caused the beginning of the crisis. Property and public company valuations tripled during the period, and land in Tokyo became extremely expensive Kuepper, n. The asset price bubble burst in and, in the beginning, it was just a decline following the stock market crash Posen, However, the economy has not recovered since. Shortly after the crash, stocks had dropped 57 percent when compared to the level.

If the fourth quarter also shrinks, it will be considered a recession. The 1. Even the unemployment rate has crept up from only 2. The recent economic collapse of many of the Southeast Asia nations has hurt Singapore for several reasons.

As a major port, a tremendous amount of trade from countries like Indonesia and Malaysia come through Singapore. This therefore resulting in the aforementioned increases economic growth when combined with the high levels of employment and consumer confidence.

This erratic behavior, most pronounced in retail trade, can be explained by the effects of both the millennium bug and the introduction of a general consumption tax in the form of the GST. The millennium bug caused much panic and with it bought panic spending especially in the IT sector thereby over inflating an already close to booming economy and after the non-event that the millennium or Y2K bug caused spending slumped and then further slumped due to the holding back of consumer spending on big ticket items such as cars and houses until the introduction of the GST.

Open Document. Essay Sample Check Writing Quality. This belief was a realisation by many in the late 20th Century and was reinforced by the actions of local government and many major construction firms. The Pyrmont-Ultimo peninsula was once occupied primarily of 'blue-collar' workers, surrounded by derelict industrial waterfronts and working-class terraces that dominated the industrialised land. Over the past decade, massive urban renewal programs transformed the two inner-city suburbs.

The redevelopment of decayed buildings of the working-class, improved both the employment opportunities and quality of infrastructure. Due to the constant fluctuations in redevelopment and development, the areas' population also fluctuated over the years. In , Pyrmont reached its climax in residential development and by the population had exceeded 19, the highest in New South Wales at the time and a building boom of 3, dwellings.

At the turn of the century, the population of the peninsula peaked at 30, the highest it would ever reach as stated by Micheal R. Thereafter the population declined 5 per cent per year. Locate precisely in relation to the metropolitan Sydney b Outline the methods of your fieldwork, pre fieldwork, actual fieldwork and post fieldwork. Include details of the City West project. Develop and implement a research framework investigating an urban dynamic operating in a country town or suburb.

Please note, your assignment should be a maximum of 5 A4 pages in written form. Diagrams and maps are included in these 5 pages. You may also include photos, questionnaires etc. Pyrmont is a good example of urban Consolidation involving social, cultural and economic changes. In considering the changes in this suburb, make reference to the following:.

Make reference to specific examples that you have studied or with which you are familiar. You should include include:. Include a map. Consider the goals of equity, environmental quality and economic efficiency. These include:. Transformations But the Pyrmont peninsula is due for another big face-lift. The commission held meetings with, or collected written submissions from, representatives of the NSW government, local government, members of the community and representatives of industry.

A place-based approach involves breaking the Pyrmont peninsula down into its separate sub districts — including Darling Harbour, Ultimo and Wentworth Park — and identifying the defining characteristics of these areas. Planning regulations, and consideration of development proposals, would be based on the identified character and potential of each area. Stokes said. Other plans afoot Even before the Pyrmont Place Strategy is finalised, major development proposals set to change the face of the area have been flooding in.

Property developer, Mirvac, has also recently released the amended version of their plan for The Harborside, a shopping center that is currently undergoing the approval process. The existing 30 year old Darling Harbour shopping complex is set to be demolished to make way for a new mixed-use development, which will include a new shopping complex and a metre tower containing apartments. The controversial move of the Powerhouse Museum, which has faced extensive backlash from the public, will also open up prime real estate for developers if it goes ahead.

But not all are optimistic about such ambitious visions. In a mayoral minute during a recent council meeting, Ms. Gibbs explained.