One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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MARCH EMERGENCY RBA MINUTES
<h2 id="recent-developments">Recent Developments</h2>
In a special meeting convened to consider options for monetary policy responses to the economic effects of the novel coronavirus disease (COVID-19), members commenced their discussion with a review of recent developments. The outbreak was noted as first and foremost a public health issue. Many countries were shutting their borders and placing restrictions on businesses and individuals to slow the spread of COVID-19. This was causing very significant disruption to economies around the world.
Financial markets had been very volatile and there had been sharp falls in the prices of risky assets as market participants struggled to price the risks, given their unprecedented nature. Equity prices in the advanced economies, including in Australia, had fallen by around 30 per cent. The falls had been broadly based across sectors, although equity prices in the energy and tourism sectors had fallen particularly sharply. The equity prices of banks had also fallen significantly, although it was recognised that the capital and liquidity positions of banks had been strengthened over the prior decade.
Liquidity in credit and money markets was very poor and the market for corporate bond issuance was essentially closed to all but the very highest quality borrowers. Credit spreads in corporate bond markets had widened substantially, particularly for high-yield bonds, increasing funding costs for corporations. Members noted that any further widening in spreads would translate directly into higher borrowing costs, since government bond yields had very little further room to fall. Yields in money markets had also risen, although banks and highly rated non-financial corporations were still able to access these markets. The Australian banks had strong funding positions and did not need to source additional funding from bond markets in the near term.
Government bond markets had displayed signs of dysfunction, with many participants seeking to liquidate their portfolios. This had also affected traditionally safe and liquid markets, such as the US Treasury market. The increase in yields and volatility partly reflected the unwinding of highly leveraged positions, and the constrained ability of dealers to absorb additional bonds after having reached leverage and capital constraints. The dysfunction in the US Treasury market had spread widely, given its important role as a pricing benchmark for the global financial system.
In foreign exchange markets, large repatriation flows had supported the yen, and the US dollar had appreciated against most other currencies. Members observed that the Australian dollar had depreciated against the US dollar by around 10 per cent over the preceding month, to be at its lowest level since 2002. Among other advanced economies, the exchange rates of commodity exporters such as Norway, Canada and New Zealand had also depreciated notably. Capital flight had been evident across emerging markets, with exchange rates depreciating against the US dollar and sovereign bond yields moving sharply higher.
In response to these developments, a number of major central banks had made sizable interest rate reductions at unscheduled meetings. The Federal Reserve had cut its policy rate by 100 basis points after an earlier cut of 50 basis points. The Federal Reserve, the Bank of England and the Reserve Bank of New Zealand had each lowered policy rates to ¼ per cent, and interest rates were lower than this in Japan and Europe.
Central banks had expanded their standard open market operations to provide short-term liquidity to financial institutions, including by lengthening the terms on which liquidity is extended. To support Australian financial markets, the Bank had injected liquidity through its open market operations, increasing Exchange Settlement (ES) balances from around $2.5 billion to $14 billion. The Bank had also announced that it would be conducting daily operations at one- and three-month terms and regular repurchase operations on terms of six months or longer. In a number of jurisdictions, including in Australia, central banks had stated that they would purchase government bonds in secondary markets to support their smooth functioning.
Members noted that many central banks were introducing additional measures to support market functioning and promote the resumption of activity in corporate credit markets. The Federal Reserve had introduced a commercial paper funding facility to provide a backstop for the market. The Bank of England, acting as agent for the UK Treasury, had announced that it would purchase unlimited amounts of commercial paper issued by non-financial firms with an investment grade credit rating. The Bank of England and the European Central Bank had expanded funding schemes to encourage banks to lend to businesses. There had also been an easing of bank regulatory requirements in many countries.
The Federal Reserve, in conjunction with a number of other central banks, had also lowered the cost and extended the terms of foreign currency borrowing through foreign exchange swap lines. This was designed to alleviate the very high demand for US dollars from non-US entities that had issued debt in US dollars that needed to be refinanced.
Members discussed how these developments and the rapidly changing situation were affecting the outlook for economic activity. The immediate outlook for the Australian and global economies was highly uncertain, but members viewed it as very likely that most countries would experience a very sharp contraction in economic activity. Members considered the information available for the Chinese economy, which indicated that there had been a large contraction in economic activity in the March quarter. Some indicators, such as coal usage, suggested that economic activity in China was beginning to pick up, although it was too early to assess the extent to which activity would recover in the June quarter.
While it was not possible to provide an updated set of forecasts for the economy given the fluidity of the situation, it was likely that Australia would experience a very material contraction in economic activity, which would spread across the March and June quarters and potentially longer. The size of the fall in economic activity would depend on the extent of the social distancing requirements, and potential lockdowns, put in place to contain the virus. The composition of consumption was changing considerably, with spending at supermarkets and pharmacies increasing substantially, while spending on hospitality and other services was falling sharply. Many service industries were being severely disrupted, with significant spillovers across the economy. There were likely to be significant job losses over the months ahead, although the extent of this would depend on the capacity of businesses to retain employees during this period. At the same time, some industries were employing more workers, particularly those involved in the retail supply chain and delivering goods. In time, following containment of COVID-19, the economy is expected to recover, but the timing of this was uncertain.
<h2 id="considerations-for-monetary-policy">Considerations for Monetary Policy</h2>
Following their review of recent developments in financial markets and the implications for economic activity, members turned to how monetary policy could most effectively support the Australian economy through the challenging period that lay ahead.
Members acknowledged that the primary response to the COVID-19 outbreak was to manage people's health, but that other arms of policy, including monetary and fiscal policy, would play an important role in reducing the economic and financial disruption. Members noted the measures that the Bank had taken to support the Australian economy and operation of financial markets over the days preceding the meeting.
The Governor proposed a package of policy measures, which together would assist in supporting the Australian economy through the period ahead. The focus of the package was on ensuring that funding costs were low across the entire economy and that credit remained available to businesses and households. This would help build the necessary bridge to the economic recovery and support that recovery once the COVID-19 outbreak is contained.
The elements of the package were discussed in turn.
1. A further reduction in the cash rate target to 0.25 per cent.
The proposed cut in the cash rate to 0.25 per cent would bring the cumulative decline over the preceding year to 1¼ percentage points. Members noted that this would be a substantial easing of monetary policy, which, to date, had been boosting the cash flow of businesses and the household sector as a whole and also helping trade-exposed industries through the exchange rate channel. Members acknowledged that very low interest rates have uneven effects and negative consequences for some people – especially those relying on interest income – but the evidence was that lower interest rates were benefiting the community as a whole.
Members supported the proposal and agreed that the cash rate would not be increased from its lower level until progress is made towards full employment and there is confidence that inflation will be sustainably within the 2–3 per target cent range. Given this, it was considered likely that the cash rate would remain at a very low level for an extended period. Members also agreed that the cash rate was now at its effective lower bound. Members had no appetite for negative interest rates in Australia.
2. A target for the yield on 3-year Australian Government bonds of around 0.25 per cent.
Members considered a proposal to extend and complement the longstanding approach to target the cash rate, which forms the anchor point for the risk-free term structure, by also targeting a risk-free interest rate further out along the yield curve. The specific proposal was to target the rate at the three-year mark, given its importance as a benchmark rate in financial markets and its role in funding across much of the Australian economy. Such a target would also be consistent with the expectation that the cash rate would remain at a very low level for several years.
Members supported the intent of the proposal and agreed that it would make most sense, including from a communication perspective, to set the target at the same rate as the target for the cash rate, namely 25 basis points. They acknowledged that the target did not need to be achieved precisely every day. Members noted that some time might be needed before yields would fall to the target from their level over the weeks preceding the meeting – of around 45 basis points. Members discussed the importance of the Bank's communication focusing on how this target would both support the economy in the immediate period and assist with a strong recovery once the COVID-19 outbreak has been contained.
Members noted that the yield target would be achieved by regular auctions in the secondary bond market, whereby the Bank would implement a program to purchase bonds of different maturities, given the high level of substitutability between bonds. The Bank would also be prepared to buy semi-government securities to achieve the target and help facilitate the smooth functioning of the bond market, and would work closely with the Australian Office of Financial Management (AOFM) and state government borrowing authorities. Members noted that, although the program of bond purchases would entail an increase in the size of the Bank's balance sheet, the focus of the program would be on bond yields rather than the quantity and timing of bond purchases. The objective of this component of the proposed policy measures would be to add to the downward pressure on funding costs for financial institutions, households and businesses.
Members thought it likely that the target for three-year yields would be maintained until progress was made towards the Bank's goals of full employment and the inflation target. Furthermore, they expressed the view that it would be appropriate to remove the yield target before the cash rate itself was raised.
3. A term funding facility for the banking system, with particular support for credit to small and medium-sized businesses.
The proposed scheme had two broad objectives. The first was to lower funding costs for the entire banking system to ensure a low cost of credit to households and businesses. This objective would complement the target for the three-year bond yield. The second objective was to provide an incentive for lenders to support credit to businesses, especially small and medium-sized businesses. Members agreed that this aspect would be vital as many small businesses would be likely to find retaining staff in the period ahead extremely challenging.
Under the proposed facility, the Bank would provide a three-year funding facility to authorised deposit-taking institutions (ADIs) at a fixed rate of 0.25 per cent, which was substantially below lenders' current funding costs. ADIs would be able to obtain initial funding of up to 3 per cent of their existing outstanding credit until the end of September 2020, and would have access to additional funding if they increased lending to businesses, especially to small and medium-sized businesses, with these funds able to be drawn upon until the end of March 2021. This size of the proposed facility was at least $90 billion. Members endorsed the proposal that no additional allowance be available to finance growth in lending for housing.
Members expressed support for the proposed scheme and discussed some technical aspects. They noted that institutions accessing the scheme would need to provide eligible collateral to the Bank, with haircuts applying to provide appropriate risk mitigation. The interest rate that would apply would be fixed for the term of the funding, which was consistent with the Bank's expectation that the cash rate was likely to stay at a very low level for some time. Members also agreed that including a penalty rate to counteract the risk of a reduction in lending could act as a disincentive for institutions to participate in the scheme. The Governor indicated that the first drawings under the facility would be possible no later than four weeks from the date of the meeting.
The Governor informed members that he understood that the Australian Prudential Regulation Authority (APRA) would support ADIs using the scheme. In addition, the Australian Government was in the process of developing a complementary program of support for the non-bank financial sector, small lenders and the securitisation market, which would be implemented by the AOFM. Members observed that such support would be important to assist non-bank financial institutions and small lenders to continue to provide credit to households and businesses.
4. Exchange settlement (ES) balances at the Reserve Bank to be remunerated at 10 basis points, rather than zero as would have been the case under the previous arrangements.
The Governor outlined the implications of the proposed policy measures for the cash market. The existing ‘corridor system’ means that the balances financial institutions hold with the Reserve Bank overnight earn an interest rate 25 basis points below the cash rate, and in the event that a financial institution needed to borrow from the Reserve Bank overnight, it would be charged 25 basis points above the cash rate. Should the cash rate be reduced to 25 basis points, the interest rate on ES balances would be zero. In view of the significant increase in the balances held in ES accounts resulting from the combined effect of the Bank's enhanced liquidity operations, bond purchases and the term funding program, maintaining a zero interest rate on these balances would increase the costs to the banking system.
Members agreed that such an outcome would be undesirable in the current environment. They endorsed the proposal to alleviate this cost by increasing the rate of interest on settlement balances to 10 basis points. No change to the arrangements for the top of the corridor were proposed. Members noted that the increase in ES balances would be likely to change the way that the cash market operates. In particular, large increases in ES balances could result in the cash rate drifting below the target as transaction volumes in the cash market decline, as had occurred in other countries in similar circumstances.
In considering the overall package of measures that had been discussed, members acknowledged that the term funding scheme and the three-year bond yield target were both significant policy developments that would not have been under consideration in normal times. Nonetheless, members strongly supported the proposed policy response as a comprehensive package to complement the fiscal response announced by governments in Australia in the preceding week or so.
Members endorsed the continuation of close policy coordination that had been taking place among the Bank, the federal and state governments and government agencies. They expressed the view that, in the Bank's communication, it would be important to emphasise that the Bank expected a recovery once the COVID-19 outbreak has been contained, and that the recovery would be supported by the low cost of funding across the economy.
<h2 id="the-decision">The Decision</h2>
The Board agreed on a package of measures, comprising four elements, namely:
<ul>
<li>a reduction in the cash rate to 0.25 per cent</li>
<li>a target of 0.25 per cent for the yield on 3-year Australian government bonds</li>
<li>a term funding facility to support credit to businesses, particularly small and medium-sized businesses</li>
<li>an adjustment to the interest rate, to be 10 basis points, on ES balances held by financial institutions at the Bank.</li>
</ul>
The measures would be announced in a media release at 2.30 pm AEDT the following afternoon, 19 March, following processes to ensure coordination of related policy announcements by APRA and the AOFM. The Governor would provide further elaboration and take questions at a press conference to be held at the Bank at 4.00 pm AEDT on the same day.
To read the meeting minutes on the RBA website, <a href="https://www.rba.gov.au/monetary-policy/rba-board-minutes/2020/2020-03-18" target="_blank">click here</a>.
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jrobinson-rf4aSBido9

Monetary and fiscal policy to play important role in reducing economic and financial disruption: RBA March emergency meeting minutes

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Staying home and social distancing are now essential to control the spread of COVID-19. Suitable accommodation for quarantine and isolation are critical, but Australia’s broken housing system leaves us all exposed.
By now, almost every Australian will have thought about the coronavirus pandemic in terms of their own housing. For many home owners, this is an economic concern. They are <a href="https://www.smh.com.au/business/banking-and-finance/sydneysiders-mortgage-debt-30-per-cent-higher-than-national-average-20200215-p5412l" target="_blank">dangerously in debt</a> after a 20-year housing boom. Renters face <a href="https://theconversation.com/why-housing-evictions-must-be-suspended-to-defend-us-against-coronavirus-134148" target="_blank">greater uncertainty</a>.
But it’s people in overcrowded, <a href="https://theconversation.com/informal-and-illegal-housing-on-the-rise-as-our-cities-fail-to-offer-affordable-places-to-live-116065" target="_blank">informal</a> or no housing at all who are most exposed. Crowded housing conditions are bad for all occupants, largely through the increased risks of infections, as WHO <a href="https://apps.who.int/iris/bitstream/handle/10665/276001/9789241550376-eng.pdf?ua=1" target="_blank">Guidelines on Health and Housing</a> clearly identify.
<h2>Expose one, expose us all</h2>
The increased risk of COVID-19 infection will have impacts on both the residents of crammed dwellings and the rest of the community. Improving the housing conditions of the most marginalised members of our society is an important biosecurity measure.
The number of Australians who are <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/2049.0Appendix12016?opendocument&amp;tabname=Notes&amp;prodno=2049.0&amp;issue=2016&amp;num=&amp;view=" target="_blank">homeless</a> <a href="https://www.abs.gov.au/ausstats/abs@.nsf/lookup/2049.0Media%20Release12016" target="_blank">grew dramatically from 2011-2016</a>. The largest increase was people living in severely overcrowded dwellings.
<a href="https://images.theconversation.com/files/322476/original/file-20200324-155674-1hibain.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322476/original/file-20200324-155674-1hibain.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Data: ABS Census 2016, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
This trend includes a sharp rise in older people living in crowded or marginal housing.
<a href="https://images.theconversation.com/files/322478/original/file-20200324-155683-ftqgrs.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322478/original/file-20200324-155683-ftqgrs.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Data: ABS Census 2016, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Crowding is endemic in Indigenous communities. <a href="https://www.aihw.gov.au/getmedia/c1daa420-3547-497c-b964-17b149ceba02/17718.pdf.aspx?inline=true" target="_blank">Poorly maintained and inadequate</a> dwelling conditions make the impacts of crowding worse.
Previous experience with swine flu – <a href="https://www1.health.gov.au/internet/publications/publishing.nsf/Content/cda-cdi37suppl.htm%7E02-vpds%7E2-4-influenza" target="_blank">Influenza A (H1N1)</a> – indicates contagious disease outbreaks in Indigenous communities <a href="https://theconversation.com/coronavirus-will-devastate-aboriginal-communities-if-we-dont-act-now-133766" target="_blank">will be catastrophic</a>. After over a decade of making remote areas harder places to be – as a result of cuts to housing and infrastructure allocations and increased water insecurity – they are now expected to operate as refuges.
Tertiary students, including international students, are also likely to be living in overcrowded share houses and <a href="https://theconversation.com/tracking-the-rise-of-room-sharing-and-overcrowding-and-what-it-means-for-housing-in-australia-107265" target="_blank">room-share rentals</a>. These arrangements already breach basic health and sanitation standards.
These problems aren’t due to a shortage of housing. Census data show the <a href="https://www.sgsep.com.au/publications/insights/why-was-no-one-home-on-census-night" target="_blank">number of unoccupied dwellings</a> increased during the same period that homelessness grew.
<a href="https://images.theconversation.com/files/322486/original/file-20200324-155674-227xng.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322486/original/file-20200324-155674-227xng.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Data: ABS Census, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Rather than an absolute shortage of homes, our <a href="https://theconversation.com/explainer-the-financialisation-of-housing-and-what-can-be-done-about-it-73767" target="_blank">increasingly financialised property market</a> has distorted access to decent accommodation. Housing is now treated as an asset instead of a basic right. In recent years platforms such as Airbnb have made this situation worse by <a href="https://www.tandfonline.com/doi/full/10.1080/01944363.2016.1249011" target="_blank">transforming permanent rentals</a> into short-term accommodation for tourists.
<h2>What should governments do?</h2>
Moves to <a href="https://7news.com.au/lifestyle/health-wellbeing/morrison-calls-on-landlords-to-make-sacrifices-amid-fears-renters-face-eviction--c-754870" target="_blank">prevent evictions</a> and to offer <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-03-21/mortgage-pause-coronavirus-nab-commonwealth-anz-westpac/12076690" target="_blank">mortgage relief</a> during the pandemic period are an urgent first step in what needs to be rapid national action on housing.
Securing adequate housing for those in unstable accommodation, particularly those who need to isolate, is the next phase in this public health response. Suitable housing must be made available immediately in locations near hospitals and key health services. This can be triaged.
Options might include:
<ul>
<li>
local hotels or motels – for people in metropolitan and some regional centres this seems to be an obvious option as many are likely empty of travellers
</li>
<li>
vacant holiday homes or temporary workforce housing
</li>
<li>
other health accommodation used for rehabilitation that can be repurposed
</li>
<li>
construction of temporary dwellings.
</li>
</ul>
Hotels close to major teaching (university) hospitals could be commandeered for patients with COVID-19 who need quarantined nursing care, but not intubation to help them breathe.
These hotels could also provide places of rest for health workers who might wish to isolate themselves from their families while they fight in our favour. For example, the University of Tasmania has provided one of its <a href="https://www.utas.edu.au/alerts/coronavirus-update" target="_blank">hotel buildings</a>, which has been used for student housing, to the Tasmanian government for this purpose.
Access to hotels and motels for civilian isolation practices more broadly is an obvious solution across urban areas and regional centres.
To reduce the risks arising from inadequate housing, the nation’s vast holiday rental supply should also be considered for people on priority waiting lists for social housing who are in crowded accommodation. Owners of currently empty holiday accommodation could receive the equivalent of rent assistance payments from the Commonwealth for making their housing available.
A vast tourism workforce of property managers, maintenance and cleaning staff, already reeling from the bushfire crisis, is likely ready and able to repurpose residential tourist accommodation for those in need.
On the other side of the health crisis, it’s clear a rapid, nation-building expansion in social and affordable housing must be part of Australia’s plan. Well-designed, secure and maintained housing should be Australia’s first defence, not our weakest link, in combating health, climate and economic crises.
<a href="https://theconversation.com/profiles/nicole-gurran-759" target="_blank">Nicole Gurran</a>, Professor of Urban and Regional Planning, <a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>; <a href="https://theconversation.com/profiles/peter-phibbs-27130" target="_blank">Peter Phibbs</a>, Director, Henry Halloran Trust, <a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>, and <a href="https://theconversation.com/profiles/tess-lea-445805" target="_blank">Tess Lea</a>, Associate Professor, Gender and Cultural Studies, <a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/homelessness-and-overcrowding-expose-us-all-to-coronavirus-heres-what-we-can-do-to-stop-the-spread-134378" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Homelessness and overcrowding expose us all to coronavirus. Here's what we can do to stop the spread

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Native to southeastern Australia, the powerful owl (Ninox strenua) is <a href="https://www.environment.vic.gov.au/conserving-threatened-species/threatened-list" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">threatened</a> and facing the prospect of homelessness.
These birds don’t make nests – they use large hollows in old, tall trees. But humans <a href="https://doi.org/10/gc3d8n" target="_blank">have been removing</a> such trees in the bush and <a href="https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0099403" target="_blank">in cities</a>, despite their ecological value.
Owls are lured into cities by abundant prey, with each bird capturing <a href="https://www.theage.com.au/national/possum-assassins-move-into-town-20030913-gdwc1e" target="_blank">hundreds of possums per year</a>. But with nowhere to nest, they <a href="https://www.uppercampaspelandcare.org.au/wp-content/uploads/Powerful-owls-Bronwyn-Isaac-March-2015.pdf" target="_blank">struggle</a> to breed and their population is at risk of declining even further.
<a href="https://images.theconversation.com/files/322261/original/file-20200323-112707-oeoljh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322261/original/file-20200323-112707-oeoljh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Existing artificial nest designs include nesting boxes and carved logs /Author provided
Conservationists tried to solve this problem by installing nesting boxes, but to no avail. A <a href="https://www.researchgate.net/publication/290200038_A_powerful_Owl_disperses_into_town_and_uses_an_artificial_nest-box" target="_blank">2011 study</a> in Victoria showed a pair of owls once used such a box, but only one of their two chicks survived. This is the only recorded instance of powerful-owl breeding in an artificial structure.
So as a team of designers and ecologists we’re finding a way to make artificial nests in urban areas more appealing to powerful owls. Surprisingly, the answer lies in termite mounds, augmented reality and 3D printing.
<h2>Bring in the designers</h2>
Nesting boxes aren’t very successful for many species. For example, many boxes installed along expanded <a href="https://theconversation.com/the-plan-to-protect-wildlife-displaced-by-the-hume-highway-has-failed-78087" target="_blank">highways</a> fail to attract animals such as the squirrel glider, the superb parrot and the brown treecreeper. They also tend to disintegrate and become unusable after only a few years.
What’s more, flaws in their design can lead to <a href="https://www.researchgate.net/publication/322544621_Nest_box_design_for_a_changing_climate_The_value_of_improved_insulation" target="_blank">overheating</a>, death from <a href="https://nestwatch.org/connect/news/to-paint-or-not-to-paint/" target="_blank">toxic fumes</a> such as marine-plywood vapours, or babies unable to grow.
Designers and architects often use computer modelling to mimic <a href="https://www.academia.edu/208933/Towards_Morphogenesis_in_Architecture" target="_blank">nature</a> in building designs, such as Beijing’s <a href="https://www.arup.com/-/media/arup/files/publications/t/arup_journal_1-2009.pdf" target="_blank">bird’s nest</a> stadium.
But to use these skills to help wildlife, we need to understand what they want in a home. And for powerful owls, this means thinking outside the box.
<h2>What powerful owls need</h2>
At a minimum, owl nests must provide enough space to support a mother and two chicks, shelter the inhabitants from rain and heat, and have rough internal surfaces for scratching and climbing.
Traditionally, owls would find all such comforts in large, old, hollow-bearing trees, such as swamp or manna gums at least 150 years old. But a <a href="https://www.oferlevyphotography.com/Birds-of-prey/i-j5JMnWs/A" target="_blank">picture</a> from Sydney photographer Ofer Levy, which showed an owl nesting in a tree-bound termite mound, made us realise there was another way.
<a href="https://images.theconversation.com/files/322262/original/file-20200323-112688-o530b1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322262/original/file-20200323-112688-o530b1.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Owls have been observed using termite mounds in trees for nesting. Blantyre, Author provided
Termite mounds in trees are oddly shaped, but they meet all necessary characteristics for successful breeding. This precedent suggests younger, healthier and more common trees can become potential nesting sites.
<h2>A high-tech home</h2>
To design and create each termite-inspired nest, we first use lasers to model the shape of the target tree. A <a href="https://www.academia.edu/40371565/Modelling_Workflows_for_More-than-Human_Design_Prosthetic_Habitats_for_the_Powerful_Owl_Ninox_strenua_" target="_blank">computer algorithm</a> generates the structure fitting the owls’ requirements. Then, we divide the structure into interlocking blocks that can be conveniently manufactured.
<a href="https://images.theconversation.com/files/322263/original/file-20200323-112712-tasmfj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322263/original/file-20200323-112712-tasmfj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Trees and their surroundings can be scanned by lasers for precise fitting. Author provided
To assemble the nests, we use <a href="https://en.wikipedia.org/wiki/Augmented_reality" target="_blank">augmented-reality</a> headsets, overlaying images of digital models onto physical objects. It sounds like science-fiction, but <a href="https://www.researchgate.net/publication/337915977_Holographic_Construction" target="_blank">holographic construction</a> with augmented reality has become an <a href="https://www.boeing.com/features/2018/01/augmented-reality-01-18.page" target="_blank">efficient way to create new structures</a>.
So far, we’ve used <a href="https://link.springer.com/article/10.1007/s00107-015-0987-9" target="_blank">3D-printed wood</a> to build one nest at the University of Melbourne’s System Garden. Two more nests made from <a href="https://www.scientific.net/AMR.1041.83" target="_blank">hemp concrete</a> are on the trees in the city of Knox, near the Dandenong Ranges. And we’re exploring other materials such as <a href="https://eartharchitecture.org/" target="_blank">earth</a> or <a href="https://www.sciencedirect.com/science/article/pii/S2095263517300353" target="_blank">fungus</a>.
These materials can be moulded to a unique fit, and as they’re lightweight, we can easily fix them onto trees.
<a href="https://images.theconversation.com/files/322264/original/file-20200323-112712-f3k3j.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322264/original/file-20200323-112712-f3k3j.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
With augmented reality, it is easy to know where to place each block. Right: Views from the augmented reality headset. Author provided
<h2>So is it working?</h2>
We are still collecting and analysing the data, but early results are promising. Our nests have important advantages over both traditional nesting boxes and carved logs.
This is, in part, because our artificial nests maintain more stable internal temperatures than nesting boxes and are considerably easier to make and install than carved logs. In other words, our designs already look like a good alternative.
And while it’s too early to say if they’ll attract owls, our nests have already been visited or occupied by other animals, such as rainbow lorikeets.
<h2>Future homes for animal clients</h2>
Imagine an ecologist, a park manager or even a local resident who wants to <a href="https://www.melbourne.vic.gov.au/SiteCollectionDocuments/nature-in-the-city-strategy.pdf" target="_blank">boost local biodiversity</a>. In the not-too-distant future, they might select a target species and a suitable tree from an online database. An algorithm could customise their choice of an artificial-nest design to fit the target tree. Remote machines would manufacture the parts and the end user would put the structure together.
<a href="https://images.theconversation.com/files/322265/original/file-20200323-112694-1i3vv8e.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322265/original/file-20200323-112694-1i3vv8e.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Nests from 3D printed wood are easy to install. Author provided
Such workflows are already being used in a variety of fields, such as the custom <a href="https://n-e-r-v-o-u-s.com/" target="_blank">jewellery</a> production and the <a href="https://www.nature.com/articles/sj.bdj.2015.914" target="_blank">preparation of dental crowns</a>. It allows informed and automated reuse of scientific and technical knowledge, making advanced designs significantly more accessible.
Our techniques could be used to ease the housing crisis for a wide range of other sites and species, from fire-affected animals to critically endangered wildlife such as the swift parrot or Leadbeater’s possum.<img src="https://counter.theconversation.com/content/133626/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/dan-parker-970005" target="_blank">Dan Parker</a>, PhD Candidate, <a href="https://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>; <a href="https://theconversation.com/profiles/bronwyn-isaac-1002025" target="_blank">Bronwyn Isaac</a>, Lecturer, <a href="https://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</a>; <a href="https://theconversation.com/profiles/kylie-soanes-17023" target="_blank">Kylie Soanes</a>, Postdoctoral Fellow, School of Ecosystem and Forest Sciences, <a href="https://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>; <a href="https://theconversation.com/profiles/nick-bradsworth-1002021" target="_blank">Nick Bradsworth</a>, PhD Candidate, <a href="https://theconversation.com/institutions/deakin-university-757" target="_blank">Deakin University</a>; <a href="https://theconversation.com/profiles/stanislav-roudavski-197787" target="_blank">Stanislav Roudavski</a>, Senior Lecturer in Digital Architectural Design, <a href="https://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>, and <a href="https://theconversation.com/profiles/theresa-jones-127463" target="_blank">Therésa Jones</a>, Associate Professor in Evolution and Behaviour, <a href="https://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/urban-owls-are-losing-their-homes-so-were-3d-printing-them-new-ones-133626" target="_blank">original article</a>.
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Urban owls are losing their homes. So we're 3D printing them new ones

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The extreme volatility and losses seen in stock markets in recent weeks has seen calls for <a href="https://www.barrons.com/articles/should-financial-markets-be-closed-over-the-coronavirus-51584735453" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">financial markets to be closed</a> and <a href="https://www.investopedia.com/terms/s/shortselling.asp" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">short selling</a> restricted.
But shutting them down would be a mistake.
Amid the volatility, financial market prices convey much needed information.
S&amp;P/ASX 200 share index over the past year
<a href="https://images.theconversation.com/files/322223/original/file-20200323-22627-1bx5112.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322223/original/file-20200323-22627-1bx5112.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://au.finance.yahoo.com/quote/%5EAXJO/" target="_blank">Source: Yahoo Finance</a>
In an early morning meeting at the White House the day after the 1987 stock market crash, then US Treasury Secretary Jim Baker floated the idea of closing the stock market.
The Chair of President Reagan’s Council of Economic Advisers, the Chicago-trained monetarist <a href="https://www.chicagotribune.com/news/ct-xpm-2009-08-28-0908270729-story" target="_blank">Beryl Sprinkel</a>, was having none of it.
According to several second and <a href="https://streetwiseprofessor.com/when-monkeys-fly/" target="_blank">third-hand accounts</a>, when his opinion was sought, Sprinkel said “we will close the markets when monkeys come flying out of my ass.”
When Reagan asked Fed Chair Alan Greenspan for his opinion, Greenspan declared, “I go with the monkeys”.
The US stock market stayed open that day and rallied late in the afternoon, injecting a note of much-needed confidence.
<h2>Prices tell us truths</h2>
The Fed’s operations to maintain liquidity (the ability to buy and sell) remain a textbook case of how to respond to severe financial market stress.
The US economy was spared recession on that occasion.
Today’s situation is different in important respects. Policymakers are choosing to shut down the economy, and financial markets are pricing shares accordingly. Bond markets have been shaken as investors sell bonds to raise cash and prepare for governments to issue a flood of new bonds.
The US dollar has rallied as the world scrambles for US dollars, sending exchange rates against the US dollar dramatically lower.
As my previous <a href="https://www.ussc.edu.au/analysis/the-reserve-currency-myth-the-us-dollars-current-and-future-role-in-the-world-economy/" target="_blank">research</a> shows, the US dollar often climbs when the economic outlook is most dire, explaining why the Australian dollar is at its lowest in nearly two decades.
US cents per Australian dollar
<a href="https://images.theconversation.com/files/322225/original/file-20200323-22590-10kj7be.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/322225/original/file-20200323-22590-10kj7be.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.rba.gov.au/statistics/tables/#exchange-rates" target="_blank">Source: Reserve Bank of Australia</a>
Amid such extreme volatility, it would be tempting to close financial markets, in particular, stock exchanges.
There is no reason to close markets for reasons of public health. Financial markets are now traded almost entirely electronically. The US has been forced to close its trading floors in <a href="https://qz.com/1822981/new-york-stock-exchange-shuts-floor-as-coronavirus-spreads/" target="_blank">New York</a> and <a href="https://www.cnbc.com/2020/03/11/cme-group-will-close-chicago-trading-floor-as-a-precaution-over-coronavirus" target="_blank">Chicago</a>, but these trading floors were already legacies of an earlier era, largely ornamental adornments to digital trading.
Stock markets have their own circuit breakers that kick in during extreme volatility, but to do more than that would be to deprive traders and policymakers of the insights they offer.
Price movements function as alerts. It is noteworthy that financial markets sold off days before the World Health Organisation finally declared a pandemic.
They can also inform policymakers about what to do. When share markets begin a sustained recovery, it will be a sign the worst of the pandemic might be behind us.
We need prices for financial products in the same way we need prices for goods and services. Without them, decision-making becomes difficult, if not impossible.
Preventing investors from selling stocks to raise cash (which is what a stock market shutdown would do) could cause severe hardship.
With share market prices falling sharply, it’s tempting to think closing them will stem the losses, but it could trigger even more painful adjustments elsewhere.
<h2>Even short sellers have a place</h2>
Other countries have imposed bans on short selling, which is the sale of a share the seller does not yet own.
Short sellers profit by buying back shares at a lower price after they have sold them. They do it by borrowing rather than owning stocks. Their actions help the owners of stocks who want to protect their financial positions from further declines in price.
If owners can’t protect themselves in this way, they can be forced to liquidate shares, making the downturn even worse.
The global financial crisis gave us a wealth of experience with bans on short-selling, <a href="http://www.institutional-economics.com/images/uploads/pf19_-_Shooting_the_Messenger_The_Ban_on_Short_Selling.pdf" target="_blank">including in Australia</a>. The evidence from that experience overwhelmingly suggests short-selling bans were counter-productive.
Keeping markets open will be a painful experience for many, but closing them is the equivalent of shooting the messenger.
Eventually, they will signal better times ahead and give business the confidence to move forward with the recovery.<img src="https://counter.theconversation.com/content/134387/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/stephen-kirchner-1726" target="_blank">Stephen Kirchner</a>, Program Director, Trade and Investment, United States Studies Centre, <a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/itd-be-a-mistake-to-shut-financial-markets-more-than-ever-we-need-them-to-work-134387" target="_blank">original article</a>.
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It'd be a mistake to shut financial markets: more than ever, we need them to work

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Expert Observation
The COVID-19 pandemic is a double crisis affecting public health and the economy. And both aspects are playing out in our housing system – in our homes.
More and more of us are being directed to stay home, to work from home, or to socially isolate at home. Our homes are the “first line of defence against the COVID-19 outbreak”, as the UN’s Special Rapporteur on Housing <a href="https://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=25727&amp;LangID=E" target="_blank">puts it</a>. But, depending on how our housing system responds, it could make the double crisis worse.
More and more workers are <a href="https://theconversation.com/coronavirus-puts-casual-workers-at-risk-of-homelessness-unless-they-get-more-support-133782" target="_blank">losing shifts</a>, or <a href="https://www.canberratimes.com.au/story/6687586/coronavirus-australia-preparing-for-significant-rise-in-unemployment/" target="_blank">losing jobs</a> altogether, as well as the incomes they use to pay for their homes – whether it’s the rent or the mortgage. On Friday, the prime minister announced that states would work on model rules to provide relief to tenants in “hardship conditions”. On Sunday, the federal government moved to replace some of the income households have lost, <a href="https://www.pm.gov.au/media/supporting-australian-workers-and-business" target="_blank">temporarily doubling some social security payments and making cash grants to businesses</a>.
The risk of people becoming homeless during the pandemic is still high. Some more specific actions are needed to shore up our first line of defence. Governments must implement a moratorium on evictions as long as the crisis lasts. Similar changes have already been made overseas.
<h2>Evictions can happen quickly</h2>
A sudden loss of wages puts renters at risk of arrears and owner-occupiers at risk of mortgage default. This may result in legal proceedings to terminate the tenancy or give possession to the bank or other lender, and ultimately eviction. Tenants are vulnerable to termination and eviction for a host of other reasons, too.
Renters are at particular risk because rent arrears termination proceedings are quick. You can go from a missed payment to termination orders in about eight weeks in New South Wales. Other states and territories are similar.
Many renters’ finances are <a href="https://theconversation.com/coronavirus-puts-casual-workers-at-risk-of-homelessness-unless-they-get-more-support-133782" target="_blank">already precarious</a>. About <a href="https://www.afr.com/companies/financial-services/one-in-five-households-facing-mortgage-stress-despite-low-rates-20191223-p53mfn" target="_blank">one-third</a> of private renters are low-income households in housing stress (in the bottom 40% of household incomes paying more than 30% of income in rent). And 30% <a href="https://www.pc.gov.au/research/completed/renters" target="_blank">don’t have $500 saved</a> for an emergency.
Homeowners with a mortgage are also at risk of default due to loss of income. About <a href="https://digitalfinanceanalytics.com/blog/mortgage-stress-still-climbed-in-february" target="_blank">20% of mortgagees</a> are already in mortgage stress. This rate has <a href="https://digitalfinanceanalytics.com/blog/mortgage-stress-still-climbed-in-february" target="_blank">grown over the last year</a> despite rate cuts.
Now workers are facing sudden income and job losses. We see widespread evidence of an economic downturn across many sectors, including <a href="https://theconversation.com/the-end-of-global-travel-as-we-know-it-an-opportunity-for-sustainable-tourism-133783" target="_blank">tourism</a>, <a href="https://www.theguardian.com/world/2020/mar/18/theyre-going-to-go-under-australias-coronavirus-hit-restaurants-bars-and-caterers-seek-bailout" target="_blank">hospitality</a> and the <a href="https://theconversation.com/coronavirus-australian-arts-need-a-stimulus-package-here-is-what-it-should-look-like-133803" target="_blank">arts</a>. Casual workers are at particular risk of reduced income if required to <a href="https://www.health.nsw.gov.au/Infectious/factsheets/Pages/contacts-and-travellers.aspx" target="_blank">self-isolate</a> for long periods or care for unwell family members.
<h2>A breach of our defences</h2>
An eviction is a breach in the first line of defence that housing provides against COVID-19. In fact, the risk of arrears and eviction might drive an infected person to keep working and transmitting the virus.
An evicted household might pile in with family or friends, disrupting social isolation and contributing to unsanitary overcrowding. It’s a challenge people already living in share housing will have to manage. Across Australia, 81,000 dwellings are already overcrowded, <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/2049.0Main+Features12016?OpenDocument" target="_blank">51,000 of these “severely overcrowded”</a>.
People who have been evicted might move through temporary accommodation, and through real estate offices, social services and doctors’ rooms making urgent applications. Or they may be shut out of assistance, and sleeping rough. With limited space and facilities to wash hands and personal effects, the risk of transmission will grow.
<h2>How would a moratorium work?</h2>
These risks justify a government-imposed moratorium on evictions for the duration of the crisis. This could be done through legislation, or through an emergency executive direction to authorised officers to stop evictions. Other countries have already taken such steps.
In the United States, many states and cities have <a href="https://www.antievictionmap.com/blog/2020/3/19/covid-19-emergency-tenant-protections-map" target="_blank">suspended eviction proceedings against tenants</a>. Federal housing finance agencies have implemented <a href="https://www.washingtonpost.com/business/2020/03/18/hud-orders-60-day-foreclosure-moratorium-homeowners-affected-by-coronavirus/" target="_blank">a 60-day moratorium to protect some families from mortgage default</a>.
Ireland has also suspended evictions and <a href="https://www.rte.ie/news/coronavirus/2020/0319/1124168-evictions-ban-coronavirus/" target="_blank">temporarily frozen rent increases</a>. In the United Kingdom, renters in the private or social sector are <a href="https://www.gov.uk/government/news/complete-ban-on-evictions-and-additional-protection-for-renters" target="_blank">to be protected from eviction</a>.
A moratorium on evictions is an obvious triage measure. That’s why in Australia a <a href="https://actionnetwork.org/petitions/protect-our-communities-no-evictions-during-a-health-crisis" target="_blank">community coalition</a> has come together to advocate for no evictions during this crisis. You can show your support by <a href="https://actionnetwork.org/petitions/protect-our-communities-no-evictions-during-a-health-crisis" target="_blank">signing the petition</a>.
The <a href="https://www.smartpropertyinvestment.com.au/management/20864-federal-opposition-leads-eviction-moratorium-call" target="_blank">federal opposition is urging</a> the government and financial institutions to consider similar measures.
<h2>What about the mounting debts?</h2>
By itself, an eviction moratorium doesn’t affect the legal liability to pay rent or mortgage instalments. Without anything more, those liabilities would continue.
The federal government’s increased social security payments and business grants will go some way to replacing the income households are losing. But even as the government tips money into households, money is drained away by rents and mortgage payments.
About A$40 billion is due to flow out of Australia’s 2.5 million private renter households and into 1.3 million landlord households. Landlord households have, on average, much <a href="https://www.tandfonline.com/doi/full/10.1080/02673037.2019.1644297" target="_blank">higher incomes and wealth</a> than other households.
Billions more are due to flow, as principal and interest payments, from 3.4 million owner-occupier mortgagees to the banks. Australia’s big four banks last week announced borrowers could <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-03-21/mortgage-pause-coronavirus-nab-commonwealth-anz-westpac/12076690" target="_blank">“pause” their payments</a> as a pandemic hardship measure. But mortgagees should be aware interest not paid is capitalised into the debt, so they will have more to pay off after the “pause” ends.
Both to prevent the accumulation of arrears, and to make the government’s income-replacement measures more effective, governments should consider implementing reductions or waivers of rent and interest liabilities for as long as the crisis lasts.
The double crisis of the COVID-19 pandemic needs a dual response that aims to keep households in their homes and to keep income in households.<img src="https://counter.theconversation.com/content/134148/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/sophia-maalsen-376520" target="_blank">Sophia Maalsen</a>, ARC DECRA Fellow and Lecturer in Urbanism, School of Architecture, Design and Planning, <a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>; <a href="https://theconversation.com/profiles/chris-martin-203935" target="_blank">Chris Martin</a>, Senior Research Fellow, City Futures Research Centre, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>; <a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank">Dallas Rogers</a>, Program Director, Master of Urbanism, School of Architecture, Design and Planning, <a href="https://theconversation.com/institutions/university-of-sydney-841" target="_blank">University of Sydney</a>, and <a href="https://theconversation.com/profiles/emma-power-250930" target="_blank">Emma Power</a>, Senior Research Fellow, Geography and Urban Studies, <a href="https://theconversation.com/institutions/western-sydney-university-1092" target="_blank">Western Sydney University</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-housing-evictions-must-be-suspended-to-defend-us-against-coronavirus-134148" target="_blank">original article</a>.
Main Photo by Antonio Guillem/Shutterstock.
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Why housing evictions must be suspended to defend us against coronavirus

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Media, marketing and creative agencies are flocking to North Sydney to take advantage of the newly developed commercial office space.
Colliers International has leased seven suites at 150 Pacific Highway in North Sydney, ranging from 60-100 sqm each.
Companies Pictura Creative, Mobius, Intergrid and FINAO are just some of the tenants that leased the space with rents ranging from $650 to $680 sqm gross per sqm per annum.
“All seven suites were leased within a six-month period highlighting the demand in North Sydney for creative, modern and bright office space,” said Jay Horrell, Executive, Office Leasing at Colliers International.
“In line with the growing importance of staff retention and wellbeing, we are seeing a greater number of tenants seeking creative workspace offering a more appealing environment for staff”
150 Pacific Highway is a brand-new building with onsite end of trip facilities and each suite has floor to ceiling windows, polished concrete flooring and a three metre plus ceiling height.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/27/3_North%20Sydney%20PH.jpg" alt="">
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Seven suites leased at 150 Pacific Highway

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National house values grew a further 0.7 per cent over March, however growth tailed off toward the end of the month due to the economic impact of COVID-19, CoreLogic found.
It was the lowest monthly gain since the market began to bounce back in July last year.
The housing market began to soften however towards the end of the month, with social distancing and a move to online auctions taking its toll on consumer confidence.
In a shock turnaround, CoreLogic's monthly Hedonic Home Value Index found Darwin to be the best performer over the month, with dwelling values jumping two per cent, although they remain -5.6 per cent down annually.
Only Hobart (-0.2 per cent) saw dwelling values decline over March.
Sydney confirmed its status as the nation's best performing real estate market with a +1.1 per cent rise in dwelling values, pulling away from Melbourne who saw a more modest +0.4 per cent. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/1/CoreLogic%20March%2031.jpg" alt=""> CoreLogic's March 2020 dwelling index. Source: CoreLogic
The harbour capital has seen its dwelling values rise +3.9 per cent over the quarter and +13 per cent annually, followed by Melbourne's +2.9 per cent quarterly rise and +12 per cent annual growth.
Sydney's March value rise was spread evenly across houses and units, whereas Melbourne's houses (+0.7 per cent) outperformed units (+0.1 per cent).
CoreLogic head of research Tim Lawless said, “Although Australia’s housing markets have begun to enter a period of disruption, they are coming from strong foundations.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/1/CoreLogic%20March%2031%20index.jpg" alt=""> CoreLogic's March 2020 value index. Source: CoreLogic
He said that recent trends in the market have become less relevant as we move into a period of unprecedented uncertainty which is likely to impact further on household confidence and drag Australia’s economy into a recession for the first time in almost 30 years.
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“The housing market won’t be immune to a drop in sentiment and weaker economy, however the extent of the impact on dwelling values remains highly uncertain", Lawless suggested.
"Capital growth trends will be contingent on how long it takes to contain the virus, and whether additional constraints on business or personal activity are introduced.”
Lawless says he is expecting the number of sales to fall dramatically over the coming months due to a decline in consumer confidence, a rising jobless rate and more cautious lending practices.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/1/Top%2010%20performers%20annually%20March%2031.jpg" alt=""> 
Sydney regions dominate the best annual performers. Source: CoreLogic
"Restrictions on open homes and on-site auctions will compound the slowdown in buyer activity, as would any future policy announcements related to peripheral services such as building and pest inspections, conveyancing and furniture removals", Lawless said.
“Considering the temporary nature of this crisis, along with unprecedented levels of government stimulus, leniency from lenders for distressed borrowers and record low interest rates, housing values are likely to more be insulated than sales activity.
“The extent of any fall in housing values is impossible to fathom without first understanding the length of time this health and economic crisis persists. Arguably, the longer it takes to contain the virus and bring economic operations back to normal, the higher the downside risk to housing values.” 
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March sees last gasp property price rise, but growth tails off: CoreLogic

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<h2>OPINION:</h2>

Earlier this month, I wrote about <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">how the market will react to the Coronavirus (COVID-19)</a> before it became a pandemic. Now, three weeks on, we have seen the impact it has on numerous <a href="/guides/covid-19-how-to-adapt-to-working-from-home">businesses and our daily lives</a>. Currently, Australians are living through one of the <a href="/news/covid-19-how-the-world-previously-recovered-from-sars-and-whether-or-not-we-can-do-the-same-this-time-round">most significant economic and social upheavals</a> in our history.

For the real estate industry, the most direct impact from changes announced by the government would certainly be the social distancing restrictions prohibiting open inspections and auctions. These restrictions have forced a lot of new changes to the way they operate, including virtual inspections and online auctions. Last weekend we saw a mix of selling via online and phone auctions, as well as going back to more traditional ways of selling such as private sale or selling by tender.

Virtual Reality for real estate has been around for many years, allowing people to “try before you buy” without spending time and money travelling to scope out properties. However, the traditional open house has always proved popular as one can physically see, touch, hear and even smell the house and environment they may potentially be living in. But with these restrictions in place now, <a href="/guides">technology will again come into the forefront</a> and will eventually become the new norm.

While the industry is able to change and adapt, the more telling signs will be the impact on the number of listings and days on the market. From the seller’s point of view, if they are not under pressure to sell, they may hold off until after this pandemic is over. On the other hand, if we continue to see job losses, many house owners under financial stress may be forced to sell.

For investors, at a time when many people sit on the sidelines waiting to see what’s going to happen, many will see this as a great opportunity to buy a property considerably cheaper than they would have a few weeks ago and much cheaper than they will have to pay for it in 12 months.

The government has no choice but to offer relief for those affected by the crisis. The Prime Minister reinforces that they are “building bridges” to help us get to the other side. At this stage, it looks like commercial and residential landlords will be receiving some type of support, such as concessions on negative gearing and land tax. This will mean they will be asked to forgo rent, hence easing some pressure off renters. Already several major retailers, particularly those in shopping centres, have said they will not pay rent while closed. This is likely to extend to office tenants that are under similar stress.

The RBA and the government’s focus is on supporting businesses and households who will suffer significant income hits, forcing an emergency rate cut to a record low of 0.25%. RBA governor Phillip Lowe explained,

<blockquote>
“We are clearly living in extraordinary and challenging times, the Coronavirus is first and foremost a very major public health issue, but it’s also become a major economic problem and it’s having deep ramifications for financial systems right around the world.”
</blockquote>

It is still uncertain as to what the ultimate economic impact of COVID-19 will be, as well as what the fall out will be for property. However, with most economists accepting that we’re heading for, if not already in, a recession, some are wondering if COVID-19 will finally cause our property markets to crash. 

The bright side is that historically, after each global disruption, there has been a rebound and increase in property prices, and there is no reason to suggest this will be any different as the underlying property fundamentals are still strong.

<a href="/news/covid-19-understanding-what-you-can-and-cant-control-the-importance-of-cross-referencing-facts">Look after one another</a> and <a href="/guides/covid-19-how-apartment-dwellers-can-keep-themselves-safe-during-self-isolation">stay safe</a>.
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Changes the real estate industry will experience as a result of the Coronavirus

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EXPERT OBSERVER
Australia is teeming with people who have questions about the impact of the virus crisis on real estate and are seeking urgent answers. 
My webinar with buyers’ agent Rich Harvey of propertybuyer on 24 March attracted a big audience – our largest ever - and we received more questions than we could handle during the live event.
Many of those questions including some of the fundamental ones that everyone is asking: will property values decline, how long will it last, is this a good time to buy, what happens if my tenant can’t pay the rent and if I ask my lender for a mortgage holiday, will it affect my credit rating?
Here are some of the key questions or comments, and my responses.
Is now the time to be buying an investment property? Will there be tenants in the market?
I think this is a good time to be looking for an investment property. There will be opportunities to buy well in the current climate. Buyers will be able to negotiate from a position of strength. Just be careful to select a location with the credentials for long-term growth. There will be tenants – vacancies are low around the nation and the various government stimulus packages will assist people who might otherwise struggle to pay their rent.
Auction clearance rates will change now that the first wave of lock-down controls come into effect. Do you predict that the market will continue to be healthy amidst rising unemployment?
Yes, I think the market will continue to be healthy. The rise in unemployment will be temporary – if it was long-term, extending right throughout the year, it would have a material impact on markets and property prices, but I expect it to be relatively short-term. Auctions will be curtailed by the government restrictions on gatherings, but most sales do not occur via auction so that in itself will not be detrimental to property prices. Only 10-11% of sales across Australian happen through auctions. It will cause some vendors who particularly want auctions to withdraw their properties from sale, which will exacerbate the shortage of listings and put a floor under property values.
Do you think vacancy rates will rise in the short term with unemployment increasing?
I think there will be some increase in vacancy rates in the short-term, but mainly because owners who had been using AirBNB rather than permanent rental situations will now be seeking permanent tenants (because of the travel restrictions, which are killing the AirBNB market at the moment). Most markets should be able to absorb this, because vacancy rates are very low in most locations across Australia.
Can you help unpack how a potential 10% unemployment rate cannot have any impact on property prices going forward?
If we had a 10% jobless rate long-term in Australia, it would impact on property prices – but we won’t have that. We will have a short, sharp spike in unemployment but it won’t last long enough to cause a significant fall in house prices.
Will this situation promote longer-term demographic shifts to more people working remotely and strengthen property growth in regional areas?
I think that is a trend anyway and has helped to drive the boom in the past 2-3 years in Regional Victoria, particularly in towns within 1-2 hours of Melbourne, and also the Central Coast just outside Sydney. The current situation will probably enhance that trend towards people working remotely and therefore making lifestyle changes. Increasingly, there are fewer and fewer reasons to be close to the CBDs of major cities. 
Do you have any perspectives on negotiating with developers during this time, especially as first home buyers.
Everything is negotiable at any time but in these turbulent times I suspect buyers will be able to negotiate favourable deals when buying new product from developers. It would be a good time to present yourself as a buyer at a time when many people will be standing back or sitting on the fence.
Over the next few months if you find yourself unable to keep up with your loans, get on the front foot and call the credit provider early.  This will not only relieve some pressure as you won’t be living in fear of what they might do, but it will most likely help to protect your credit file in the process.  If the emotion is too close to home for you to liaise with the credit provider yourself, then engage a professional to do it for you. But check in early with your lenders.
I think that is sound advice. The major lenders have made it clear that they want to help their mortgage customers, as well as businesses, because they have a strong vested interest in keeping their customers healthy. Anyone who is struggling with loan repayments should contact their lenders and work out a solution with them. The major banks are indicating that they will allow people to pause their repayments for a period of time.
What should landlords do if a tenant advises they can’t pay their rent?
I don’t think it’s possible to give a generalised answer to that. It needs to be handled on a case-by-case basis. But a lot of the emphasis in the various stimulus packages is on assisting people in those situations. The benefits for people out of work have been significantly increased to try to avoid situations where people can’t pay their rent. But, for any landlords who fact that situation, work with your tenants, or your property manager, to come up with a solution – perhaps by reducing the rent for a short period.
Should I reduce the rent before the tenants ask?
It may be a good strategy, to pre-empt any problems – perhaps offer a reduction in the rent for a short period to help get through the difficult period. It’s preferable to do that, rather than losing your tenant. I note that some landlords are doing that, according to media reports. But it needs to assessed on a case-by-case basis. 
Should we hold on to our savings and see how low the market will go?
That kind of strategy seldom works. It’s indicates a short-term viewpoint when real estate should be approached with long-term horizons. The other problem with that kind of approach is that it’s impossible to pinpoint the bottom of the market – the data that shows the bottom of the trough doesn’t appear until a long time after the event. A better approach is to look for good buying opportunities in areas with the credentials for long-term growth.
What is your take on people losing their jobs who have a mortgage, will they lose their homes, if so how will they get a rental in such a tight rental market?
One of the key factors in the response from the Federal Government and the major banks is to support people who lose their jobs and have difficulty paying the mortgage. Lenders have said they will offer mortgage holidays – e.g. suspending payments for six months. The tight rental markets are being eased, to a certain extent, by investors who previously used AirBNB now putting their properties into the permanent rental pool (because the travel restrictions are killing the AirBNB market).
My husband is very nervous and wants me to sell our family home.  What’s your advice on selling now. 
No, please don’t do that. There is no need to panic to that degree. We are not going to see property values collapse and anyone who struggles to pay the mortgage during this crisis period should be able to arrange a suspension of their regular payments with their lender. 
If I were to make an opportunistic buy, what’s to say I can rent it out in a timely manner in the current environment?
A sensible investor would, firstly, buy in a location where the vacancy rate is low (and most locations around the nation currently have low vacancies) and, secondly, speak to property managers in the local area about the prospects for renting the property you’re thinking of buying – before signing a contract.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

13 Coronavirus property questions answered by Hotspotting's Terry Ryder

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EXPERT OBSERVER
This week, historic negative economic outcomes were seen in both Europe and the US. Financial markets instead focused on the wave of stimulus announced, particularly in the US.
Of the data released, the first focus for markets was the Markit PMI’s for key developed nations. Whereas the shock ex-China to date has been concentrated in manufacturing, services were hit hard in the March preliminary reading. In Japan, the service PMI fell from 46.8 in February to 32.7 in March; in the US, a similar decline was seen from 49.4 to 39.1; while in Europe, the loss was a staggering 24pts from 52.6 to 28.4 – a very unfavorable comparison to the GFC low of 39.2 in 2009. 
While severe, these shocks pale in contrast to the deterioration seen this week in US initial jobless claims. As we flagged last week, the first few weeks of the US contagion have seen a never-before-seen increase in US unemployment. Following the 71k increase in the last report to 282k claimants, in this update a further 3 million new claimants were reported, taking initial claims to 3.28 million. Prior to this outcome, the historic peak was 695k back in 1982.
Note that while the 2020 initial outcome is almost five times the scale of the 1982 peak, the labour force has only grown 50% since. Moreover, this week’s outcome will not be a one off. It is still early days in this crisis; job losses have been staggered; and there have been numerous reports of claim backlogs to be assessed. Clearly the US is facing into an immense shock. 
It is not surprising then that the US Congress has responded with a stimulus package also of historic proportions ($2 trillion). This will include support to all low and middle-income households in the form of cash handouts; extended unemployment benefits; loans to small business which can be forgiven in time if the funds are used for certain purposes such as keeping on staff; as well as loans to support large business cash flow.
These are significant measures, but are unlikely to materially reduce the shock coming to their economy. This is in part because the stimulus will only partly offset the loss of income from job loss and as confidence’s decline will hit discretionary spending hard. But primarily it is because the US COVID-19 case count continues to rise rapidly, meaning the country is nowhere near a point of stabilisation which it can begin to recover from. Highlighting this, the New York Times today reported that the US now has more confirmed cases than China experienced. Moreover, the global state of affairs also remains dire, with severe cases continuing to increase rapidly across Europe.
The shock to growth coming from abroad is also having a clear impact on Australia and New Zealand. But more pressing is the domestic spread of COVID-19. The current situation for our two nations has been summarised this week by Westpac Group Chief Economist Bill Evans and New Zealand Chief Economist Dominick Stephens. For Australia, further detail on the expected depth of the deterioration in our labour market and economy was also released by Westpac Economics, as was our forecast of the implications for the Federal Government’s fiscal position and government debt.
For our labour market, given the implementation of stricter restrictions on our economy, we now anticipate a rise in the unemployment rate to a peak of 11% by mid-2020, to be sustained through the September quarter. This will come as a result of the loss of over 800k jobs and as the economy contracts by 4.0% over the year to September 2020.  As the economy is restored to a more normal footing in the September and December quarters, activity will bounce and the unemployment rate fall – we believe to 8.8% end-2020 and 8.0% end-2021.
Still, that is a much weaker end point than anticipated prior to COVID-19. Hence, not only will the recession of 2020 hit the Government’s fiscal position, but there will also be a lasting impact. On top of this shock to activity and Government revenue is the cost of stimulus, to steady the economy amid immense uncertainty.
In summary, we anticipate a deterioration in the Federal budget from balance in 2018/19 to a 4.5% of GDP deficit ($90bn) in 2019/20 and a deficit of 8% of GDP ($160bn) come 2020/21. In 2019/20, 2ppts ($40bn) comes as a result of policy stimulus while 2.5ppts ($50bn) is due to the apparent cyclical deterioration. The 2020/21 deficit of 8% of GDP meanwhile includes 3ppts ($60bn) from policy stimulus and 5ppts ($100bn) is due to cyclical deterioration. As a result, the supply of government securities on issue will rise by $250bn to $820bn (40% of GDP) by June 2021.
ELLIOT CLARKE is a <a href="https://www.propertyobserver.com.au/https://westpaciq.westpac.com.au/Article/42750" target="_blank">senior economist at Westpac</a> 
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