THE NEW SYDNEY.

Press, Volume LXIII, Issue 18922, 10 February 1927, Page 4

THE NEW SYDNEY.

PROGRESS IN BUILDING. GOOD PROSPECTS FOR 1927. The fact that Sydney is undergoing a process of reconstruction is evident on every hand. Tt is not merely that great undertakings like tho Harbour Bridge and the City Ifailway have involved the demolition of many buildings, nnd a considerable amount of upheaval in parks, squares, and streets of the city. There has been nothing of the mushroom growth in Sydney's development. Last year 30,844 new buildings were erected in the metropolitan area, or just 29S more than were built in 1914, when tho population was 256,000 short of the million odd it now is. But many things have' happened in between those years. The Great War a serious check on building operations. Tho number of new buildings fell from 7032 in 1915 to 4998 In 1918, and when a revival set in during 1920 it was ae- 1 compauiod by costs on a higher scale both as regards wages and prices of material. In 1920, 10,015 now buildings cost & 9,273,059, as against £0,775,548 for 10,540 buildings in 1914. Recent years have witnessed a steady increase in building costs. The 10,844 buildings erected last year cost £13,128,722. it .is estimated that about £5,000,000 of that- total would represent wages. Allowance must also be mado for tho superior fit tings and furnishings with which many of the latest buildings are equipped.

Building Barometer. The number of new buildings and tlicir cost during the period 1014-1920 is shown in the following tabic:— Years. I\'o. of buildings. Cost. £

The average cost per building in 1914 was £042, in 1926 it was £l2ll—an increase of 58.02 per cent. Factory Development. Other sidelights on Sydney's\progrcss are furnished by the increase in the improved capital value of land (including buildings) in the metropolitan area, and the growth of factories. In 1914 the improved capital value was £104,220,000; at the end of 1924 (the latest available) if stood at £343,009,000.

In 1914 factory establishments numbered 2863, employed 84,822 persons, paid £9,200,000 in salaries and wages, and the value of their output in, manufactured goods wns £43,433,000. Land, buildings, and fixtures wero valued at £8,180,000.

The corresponding figures nt the end of 1925 wero: Factories 4731, persons' employed 122,000, salaries and wages £22,478,000, value of output £102,300,000, value of land and buildings, etc., £19,300,000.

For some years past Canterbury lias headed tho list of suburban municipalities in the number of buildings, 1375, erected at a cost of £938;144. Randwick came next with 748 new buildings, costing £856,477; the difference in cost being doubtless accounted for by the more expensive type of structure adopted. I In-the city proper the now buildings erected last year numbered 108, at a total cost of £2,621,281, as'compared with 263 built in the previous year for £2,593,452. Here, again, the difference in cost is mainly explained by the superior fittings and appointments of | tho titer constructions. New Buildings. In Market street changes are already in evidence. David Jones's new building is ncaring completion, portion of Rimers' premises are already well under way, and the excavations for the new structure being erected for Union Theatres are almost complete. A sky-scraper cdifko for tho Federal Mutual Insurance Company, Ltd., in Pitt street, near Martin place, is now being constructed, and the R.A.C.A.'s new home in Macquarrie street is rapidly taking shape.

Other now structures that will be completed in 1927 are M'llwraith McEacharn's building, Bridge street; Civil Servico Stores, George street; Masonic Club, Castlcreagh street; Empire Theatre, Quay street; Government Savings Bank, Martin place; and Mcllraith's new building on the site of the recent fire in Pitt street.

1014 .. 10,341! 0,775,548 1915 .. 7,032 5,121,404 l!ll(i .. (?,2«:t 4,479,118 Tin 7 .. 5,1(11 •3,595,092 !!HS .. 4.99S 3,727,898 jinii 5.S30 4,788,804 i!ii'i» .. 10,01.1 9,273,059 1021 .. 8,5.17 9,055,103 1922 .. 0,084 9,917,903 l •)-•:; .. 10,450 10,133,110 y.m .. 12,1S0 14,340,071 1925 .. 10,939 11,587,149 1920 .. 10.844 13.128.722