Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Coronavirus

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EXPERT OBSERVER
That’s a little dramatic, perhaps, but every day since has brought us closer to it being reality.
The COVID-19 crisis has the global travel industry – “the most consequential industry in the world”, says Ali – in uncharted territory. Nations are shutting their borders. Airlines face bankruptcy. Ports are refusing entry to cruise ships, threatening the very basis of the cruise business model.
Associated hospitality, arts and cultural industries are threatened. Major events are being cancelled. Tourist seasons in many tourist destinations are collapsing. Vulnerable workers on casual, seasonal or gig contracts are suffering. It seems an epic disaster.
But is it?
Considering <a href="https://edition.cnn.com/2020/03/01/world/nasa-china-pollution-coronavirus-trnd-scn/index" target="_blank">human activities need to change</a> if we are to avoid the worst effects of human-induced climate change, the coronavirus crisis might offer us an unexpected opportunity.
Ali, like many others, wants recovery, “even if it takes a while to get back up and return to pre-coronavirus traveller numbers”.
But rather than try to return to business as usual as soon as possible, COVID-19 challenges us to think about the type of consumption that underpins the unsustainable ways of the travel and tourism industries.
<h2>Tourism dependency</h2>
Air travel features prominently in discussions about reducing carbon emissions. Even if commercial aviation accounts “only” for about 2.4% of all emissions from fossil-fuel use, flying is still how many of us in the industrialised world blow out our carbon footprints.
But sustainability concerns in the travel and tourism sectors extend far beyond carbon emissions.
In many places tourism has grown beyond its sustainable bounds, to the detriment of local communities.
The <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">overtourism</a> of places like Venice, Barcelona and Reykjavik is one result. Cruise ships disgorge thousands of people for half-day visits that overwhelm the destination but leave little economic benefit.
<a href="https://images.theconversation.com/files/266479/original/file-20190329-139352-3y65mo.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/266479/original/file-20190329-139352-3y65mo.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Graffiti in Barcelona: ‘Tourists go home. Refugees welcome.’ <a class="source" href="https://www.propertyobserver.com.au/https://www.flickr.com/photos/dullhunk/29569046192" target="_blank">Dunk/flickr</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
Cheap airline fares encourage weekend breaks in Europe that have inundated old cities such as Prague and Dubrovnik. The need for growth becomes self-perpetuating as tourism dependency locks communities into the system.
In a 2010 paper <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/23745318?seq=1" target="_blank">I argued</a> the problem was tourism underpinned by what sociologist Leslie Sklair called the “<a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/10.1177/0263276410374634" target="_blank">culture-ideology of consumerism</a>” – by which consumption patterns that were once the preserve of the rich became endemic.
Tourism is embedded in that culture-ideology as an essential pillar to achieve endless economic growth. For instance, <a href="https://www.tourism.australia.com/en/markets-and-stats/tourism-statistics/the-economic-importance-of-tourism" target="_blank">the Australian government</a> prioritises tourism as a “supergrowth industry”, accounting for almost 10% of “exports” in 2017-18.
<h2>Out of crisis comes creativity</h2>
Many are desperate to ensure business continues as usual. “If people will not travel,” said Ariel Cohen of California-based business travel agency <a href="https://www.calcalistech.com/ctech/articles/0,7340,L-3800229,00" target="_blank">TripActions</a>, “the economy will grind to a halt.”
COVID-19 is a radical wake-up call to this way of thinking. Even if Cohen is right, that economic reality now needs to change to accommodate the more pressing public health reality.
It is a big economic hit, but crisis invites creativity. Grounded business travellers are realising virtual business meetings work satisfactorily. Conferences are reorganising for virtual sessions. Arts and cultural events and institutions are turning to <a href="https://www.nytimes.com/2020/03/13/arts/music/coronavirus-pandemic-music-streaming" target="_blank">live streaming</a> to connect with audiences.
In Italian cities under lockdown, residents have come out on their balconies to create music as a community.
<iframe src="https://www.youtube.com/embed/DDRiINXik00?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Local cafes and food co-ops, including my local, are reaching out with support for the community’s marginalised and elderly to ensure they are not forgotten.
These responses challenge the atomised individualism that has gone hand in hand with the consumerism of travel and tourism. This public health crisis reminds us our well-being depends not on being consumers but on being part of a community.
Staying closer to home could be a catalyst awakening us to the value of eating locally, travelling less and just slowing down and connecting to our community.
After this crisis passes, we might find the old business as usual less compelling. We might learn that not travelling long distances didn’t stop us travelling; it just enlivened us to the richness of local travel.<img src="https://counter.theconversation.com/content/133783/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/freya-higgins-desbiolles-181651" target="_blank">Freya Higgins-Desbiolles</a>, Senior Lecturer in Tourism Management, <a href="https://theconversation.com/institutions/university-of-south-australia-1180" target="_blank">University of South Australia</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/the-end-of-global-travel-as-we-know-it-an-opportunity-for-sustainable-tourism-133783" target="_blank">original article</a>.
<a href="https://theconversation.com/profiles/freya-higgins-desbiolles-181651"></a>Main image: Shutterstock
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jrobinson-rf4aSBido9

The end of global travel as we know it: an opportunity for sustainable tourism

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With the rise of companies encouraging employees to Work From Home (WFH) to mitigate the spread of COVID-19 in the workplace, Social Garden's Director of Education, Alice Nuttall shares some insightful advice to boost the health and wellbeing of people who are planning to work remotely.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/infographic_wfh.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="938" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/infographic_wfh.png?itok=IshDXcQv" width="580"></a>

<figcaption> </figcaption></figure><h2>Here are some initiatives I have been thinking about to turn this time Working From Home (WFH) into a positive experience that enforces long-term sustainable change: </h2>

1. Plan an experimental meal using ingredients pre-existing in your fridge and pantry (this is a chance for you to be creative and avoid food waste).

2. Think of a happy memory with a friend/family member and give them a call (laugh and smile as much as you can).

3. Organise your wardrobe - get out the ironing board and listen to your favourite podcast (it's a form of meditation for me).

4. Take care of your plants and start gardening. You could even start growing your own fresh produce to complement your purchased items.

5. Challenge yourself and get fit. Set yourself a goal, and see if you can do 100 burpees by the end of the week!

6. Go for a walk and connect with other members of your community who are also out and about - a smile or a simple hello is always nice (just remember, no handshakes).

7. Limit mobile use to speaking with colleagues and clients to reduce the urge to go down the "www rabbit hole".

8. Use this time as an opportunity to up-skill. Learn and build on those skills/talents/hobbies you have always wanted to develop, but haven't had the chance to.

9. Finally, focus on staying connected (with yourself especially, take note of what your body and mind are telling you).

Have tips for making working from home productive and enjoyable? Let us know in the comments.
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COVID-19: How to adapt to working from home

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The coronavirus scare has finally affected the hitherto robust capital city auction market sentiment, but not too dramatically.
The national clearance rate has dipped to 69 percent according to the preliminary Domain data.
It is the weakest national result since the opening weekend results of 64 percent on February 1, having been in the 70s in the intervening five weeks.
This time last weekend Domain had the national figure at 75 percent, with Sydney at 80 percent and Melbourne, with its Moomba weekend distraction at 69 percent.
Today it was 73 percent in wet Sydney, down seven percent.
Melbourne sat at 68 percent, so just a small dip.
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5">
<thead><tr>
<th>City </th>
<th>Success rate </th>
<th>Number listed </th>
<th> Reported auctions </th>
<th>
 
sold
 
</th>
<th> </th>
<th>
($m)
</th>
<th> </th>
<th> </th>
</tr></thead>
<tbody>
<tr>
<td colspan="5">
This week
</td>
<td colspan="4">
14 March
</td>
</tr>
<tr id="x_rpAuctionResultsThisWeek_trThisWeekRow_0">
<td id="x_rpAuctionResultsThisWeek_tdThisWeekCity_0">Sydney</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekClearance_0">73.4%</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekListed_0">644</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekReported_0">433</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekSold_0">361</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekWithdrawn_0"> </td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekTotalSold_0">$328.5</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekHouseMedian_0"> </td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekUnitMedian_0"> </td>
</tr>
<tr id="x_rpAuctionResultsThisWeek_trThisWeekRow_1">
<td id="x_rpAuctionResultsThisWeek_tdThisWeekCity_1">Melbourne</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekClearance_1">68.0%</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekListed_1">1,090</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekReported_1">751</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekSold_1">532</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekWithdrawn_1"> </td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekTotalSold_1">$412.7</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekHouseMedian_1"> </td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekUnitMedian_1"> </td>
</tr>
<tr id="x_rpAuctionResultsThisWeek_trThisWeekRow_2">
<td id="x_rpAuctionResultsThisWeek_tdThisWeekCity_2">National</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekClearance_2">69.6%</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekListed_2">1,921</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekReported_2">1,292</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekSold_2">969</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekWithdrawn_2"> </td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekTotalSold_2">$778.2</td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekHouseMedian_2"> </td>
<td id="x_rpAuctionResultsThisWeek_tdThisWeekUnitMedian_2"> </td>
</tr>
</tbody>
</table>
Source: Domain
The weekend prior, on the last Saturday in February saw Domain calculate the national figure at 78 percent, with Sydney at 82 percent and Melbourne at 77 percent.
The top reported sale was an $8 million luxury Lavender Bay apartment that the Sunday Telegraph reported sold for more than $1 million over its reserve price with four registered bidders amid the 50 attendees.
Melbourne's top sale was $3.82 million in Malvern East, with several pricier homes failing to find buyers including a no-bid $5 million Hawthorn offering. 
There has been an escalating trend towards sale before auction as sellers worry just whether the buyers will emerge on auction day in the current contagion scare.
SQM Research calculated Melbourne had 117 sold priors, 17 rescheduled and another 39 either withdrawn/sold prior/rescheduled. 
Sydney had 164 sold priors, 25 rescheduled and 53 SP, withdrawn or rescheduled.
"All search activity on realestate.com.au has slowed over the past week," said Nerida Conisbee, chief economist with the rival property listing site last last week.
The Australian Financial review described search activity as "a leading indicator of the health of the property."
The realestate.com.au chief economist Nerida Consibee had said she expected the clearance rate to be lower, but added it was difficult to predict the influence of coronavirus.
As the major capital cities head into the busy pre-Easter auction period, estate agents dread that would-be vendors will sit on their hands when it comes to mid-April fresh listings.
It is commonly believed a major drop in property prices will not occur unless there was a spike in full time unemployment as the prospect of a recession looms.
Some property pundits had forecast a similar success rate for auctions as the last two weeks, given the interest rate cut was encouraging more people to buy.
The realestate.com.au data for saw a bigger drop in Sydney, down to a preliminary 74 percent.
Canberra dipped to 66 percent.
The realestate.com.au data for the prior Saturday saw 83 percent in the ACT; and 82 percent in NSW.
Yesterday was 71 percent in Victorian, down from 77 percent on the prior weekend.
Last weekend was 69 percent in SA and 53 percent in Queensland.
Today it was up in SA to 74 percent, so against the national trend, while it was down a bit in Queensland to 51 percent.
The weekend results do see contradictions as Cooley Auctions in Sydney reported 73 percent today selling 37/51 compared with 61 percent last weekend selling 33/54.
McGrath Sydney agent sold 41 properties today, but saw 20 pass in or get withdrawn.
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jchancellor-FAypfDUnLy

Coronavirus fears impact on weekend auction results with dip to 69 percent

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<div>EXPERT OBSERVER</div>
<div> </div>
<div>The coronavirus was confirmed as a global pandemic by the World Health Organisation (WHO).</div>
<div> </div>
<div>The WHO noted that known cases have increased 13-fold in the past two weeks.</div>
<div> </div>
<div>All shops in Italy except for foodstores and pharmacies have been shuttered, as the mortality rate in the country has soared to an alarmingly high level.</div>
<div> </div>
<div>My Italian holiday is looking less likely by the week, which is annoying as I've been learning the language this year (what's the Italian for 'FFS' again?).</div>
<div> </div>
<div>Angela Merkel announced that up to 58 million Germans, or 70 per cent on the population, could contract the illness. Policy response
</div>
<div> </div>
<div>These are serious people and serious organisations, not renowned for making wild statements, so it seems inevitable that containment measures will be taken around the world, leading to a slowdown in global growth and earnings for at least the next 3-6 months.</div>
<div> </div>
<div>The Australian government has announced a stimulus package worth A$17 billion, which is at least a start, albeit it still doesn't sound like nearly enough.</div>
<div> </div>
<div>Why politicians are still making comments about a 'measured Budget response' I'll never know (actually I do know, and it's dumb). </div>
<div> </div>
<div>It wouldn't be at all surprising if we see a second round of stimulus ahead in the coming months, on top of a finally interest rate cut, and then potentially QE in the form of yield curve control.</div>
<div> </div>
<div>There's little point in going over old ground, but even at this stage the Reserve Bank sounds very reluctant to take action, at a time when the feeling around the financial markets traps is that what's really needed is a 'whatever it takes' mentality and message.</div>
<div> </div>
<div>Mind you, we haven't had that for the past few years, so it's unlikely to start now. </div>
<div> </div>
<div>Grizzly bear</div>
<div> </div>
<div>I'm not normally in the business of writing daily markets commentary.</div>
<div> </div>
<div>It's largely a fool's errand, arguably not all that useful, and potentially quite annoying.</div>
<div> </div>
<div>But since everyone else is doing it....US stocks whipsawed again and dropped 5 per cent last night to enter a bear market. It's been the fastest bear market of all time, with the 20 per cent drop taking just 19 days from the peak. </div>
<div> </div>
<div>Even after a 20 per cent correction, stocks are priced at remarkably expensive levels given that the US economy is teetering on a bust, with so many debt bombs lurking quietly beneath. </div>
<div> </div>
<div><img src="https://1.bp.blogspot.com/-Gd2Vl5ChIfE/Xmlb_NhDpaI/AAAAAAAA0oE/-L5IQJFBlB4V0nVPubpBVlQU6S08ObcJgCNcBGAsYHQ/s640/CAPE.jpg" width="640" height="478" data-original-height="803" data-original-width="1075"></div>
<div> </div>
<div>Source: Shiller</div>
<div> </div>
<div>No doubt investors have become accustomed to the Fed riding to the rescue, but that may not be such a wise ideas this time. </div>
<div> </div>
<div>Apart from picking up a few holdings in the UK oil supermajors, I'm mostly remaining in cash.</div>
<div> </div>
<div>Stock prices for BP on the FTSE are back at 1996 levels, even as the Bank of England delivered an emergency 50 basis points rate cut and a raft of stimulus measures to support business and markets (RBA take note), and as the value of its overseas earnings look set to increase. </div>
<div> </div>
<div>But generally speaking, I'm happy to sit on the sidelines through this tumultuous period, especially given that the market could halve again, even from this point. </div>
<div> </div>
<div>Aussies futures are pointing to another plunge at the open, and even since February 20 the moves are beginning to damage retirement accounts materially.</div>
<div> </div>
<div>But again, even the likely 25 per cent drop we'll see during today's trade only takes the market back to where it was in mid-2015. </div>
<div> </div>
<div>By no stretch of the imagination is the market 'cheap', especially given the dire outlook for earnings.</div>
<div> </div>
<div>The counterpoint is that at some point the coronavirus will likely pass, and given the massive global policy easing markets could eventually snap back (which is why a sensible asset allocation policy and written investment plan is so important).</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
</div>
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pwargent-M4siyDbqQY

Coronavirus confirmed a global pandemic: Pete Wargent

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The COVID-19 coronavirus is spreading across the world. Initially the epicenter was China, with reported cases either in China or in travellers from China. There are now at least four further epicenters: Iran, Italy, Japan and South Korea.
Although the World Health Organisation believes the number of cases in China has peaked and should fall, case reports are climbing from countries previously thought to be resilient due to stronger medical standards and practices.
In a strongly connected and integrated world, the impacts of the disease will go beyond mortality (deaths) and morbidity (people incapacitated or caring for the incapacitated and unable to work).
Companies across the world, irrespective of size, depend on inputs from China – much more so than during the 2002-04 China-centred Severe Acute Respiratory Syndrome (SARS) pandemic.
In 2003 China accounted for less than one twentieth of world trade. It now accounts for one seventh, making it the world’s biggest importer and an integral part of most global production chains.
Just as important to the world economy, panic is distorting spending. Global stock markets have plunged.
<h2>Fear is as important as trade</h2>
Entire cities in China have closed and travel restrictions have been placed on people entering from infected countries.
The fear of an unknown deadly virus is similar in its psychological effects to the reaction to terrorism threats and produces a high level of stress, often with longer-term consequences.
A large number of people feel at-risk at the onset of a pandemic, even if their actual risk of dying is low.
The International Monetary Fund expects COVID-19 to knock 0.4 points off China’s economic growth target of 5.6% and 0.1 points off global growth, an assessment it will continue to update.
On Monday the Organisation for Economic Co-operation and Development sliced 0.8 points off its forecast for China’s growth and <a href="https://www.oecd-ilibrary.org/docserver/7969896b-en.pdf?expires=1583190648&amp;id=id&amp;accname=ocid194681&amp;checksum=0394E7E583C8F97E4F5F8D9B7B14AE8E" target="_blank">0.5 points</a> off its forecast for Australian growth.
As part of a large research project in the Centre for Excellence in Population Ageing Research (CEPAR) at the Australian National University, we have applied experience gained from evaluating the impact of SARS for the World Health Organisation in <a href="https://www.lowyinstitute.org/sites/default/files/pubfiles/WP_5_03_Globalization_and_disease_FINAL_1.pdf" target="_blank">2003</a> and <a href="https://cama.crawford.anu.edu.au/pdf/working-papers/2006/262006.pdf" target="_blank">2006</a> to <a href="https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/16221/global-macroeconomic-impacts-covid-19-seven-scenarios" target="_blank">seven scenarios</a> for COVID-19:
<a href="https://images.theconversation.com/files/317991/original/file-20200302-18287-19xav3t.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/317991/original/file-20200302-18287-19xav3t.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The scenarios vary the attack rate (the proportion of the total population contracting the virus), the mortality rate (the proportion of total population who dies), whether epidemic is a one-off (essentially temporary) or recurrs each year (essentially permanent), and whether it spreads globally or is largely confined to China.
<h2>Australian faces a significant hit to GDP</h2>
We find that in the four scenarios where the epidemic goes global, Australia’s GDP which in the 12 months to December grew just 1.7%, would suffer a hit in the first year of between 2% and 7.9%, most likely sending GDP backwards (a recession).
In all countries the sharp hit to growth would be followed by a gradual recovery.
The results are very sensitive to the assumptions used, including government responses in each country.
In the short term, central banks and treasuries will need to make sure disrupted economies continue to function.
<hr>
Australia: percentage change in real GDP
<a href="https://images.theconversation.com/files/318203/original/file-20200303-18308-16ajz12.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/318203/original/file-20200303-18308-16ajz12.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Percentage deviation from business as usual. <a class="source" href="https://cama.crawford.anu.edu.au/publication/cama-working-paper-series/16221/global-macroeconomic-impacts-covid-19-seven-scenarios" target="_blank">Source: McKibbin and Fernando, March 2020</a>
<hr>
While cutting interest rates is an option, the shock will require a mix of monetary, fiscal and health policy responses. Quarantining affected people and reducing large scale social interaction would be an effective response.
Wide dissemination of <a href="https://www.brookings.edu/opinions/simple-steps-to-reduce-the-odds-of-a-global-catastrophe/" target="_blank">good hygiene practices</a> can be a low cost and highly effective response that can also reduce the extent of contagion and keep down the social and economic cost.
The longer-term responses are even more important.
Many governments have been reluctant to invest sufficiently in their health care systems, especially in public systems in less developed countries where many infectious diseases are likely to originate.
<h2>Investments in overseas public health matter</h2>
The idea that any country can be an island in an integrated global economy is being proved wrong.
Poverty kills people. However, the outbreak of COVID-19 shows that diseases, potentially generated in poor countries due to overcrowding, poor public health and interaction with wild animals, can kill people of any socioeconomic group in any country.
There needs to be vastly more investment in public health and development in the richest but also, and especially, in the poorest countries.
Our study suggests big economic costs in countries such as Australia can be avoided through global cooperative investment in public health in all countries.
We have known this for decades, yet politicians continue to ignore the scientific and economic evidence about the role of global public health in improving the quality of life and driving economic growth for us all.<img src="https://counter.theconversation.com/content/132759/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/warwick-mckibbin-9129" target="_blank">Warwick McKibbin</a>, Chair in Public Policy, ANU Centre for Applied Macroeconomic Analysis (CAMA), <a href="https://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292" target="_blank">Crawford School of Public Policy, Australian National University</a> and <a href="https://theconversation.com/profiles/roshen-fernando-982432" target="_blank">Roshen Fernando</a>, PhD Student in Economic Policy, <a href="https://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-first-economic-modelling-of-coronavirus-scenarios-is-grim-for-australia-the-world-132759" target="_blank">original article</a>.
Main Photo by <a class="owner-name truncate" href="https://www.flickr.com/photos/jeena/" target="_blank" title="Go to Jeena Paradies's photostream" data-track="attributionNameClick">Jeena Paradies</a>.
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j.ballantyne1990-6AQqhLzZaK

The first economic modelling of coronavirus scenarios is grim for Australia, the world

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I have been asked by a number of our industry members if REIA intends to make a statement or provide direction in regards to Corona Virus.
I don't intend to make any comment about what precautions you, your employees and your families should take. The best advice to follow is that being provided by local, state and federal health authorities. Obviously, care should be taken in the workplace which also extends to open homes, auctions, corporate travel and the like.
Representing the real estate industry, I attended a large gathering of business and government people in Sydney last night. Rest assured the necessary precautions were being taken. Corona Virus was obviously the main topic of conversation and it was abundantly clear the situation is yet to truly unfold in Australia.
With this in mind, we should be aware of what impact the virus will have on our property markets across the country. It is more likely our markets will be affected by reduced consumer sentiment than the actual virus itself. I am already hearing of many stories whereby potential vendors are deciding not to sell at this time, preferring to wait until things normalise.
Whilst such a notion is completely understandable, it doesn't make sense as we all know it is better to sell in a market with less competition and I have no doubt that our buyers will continue to purchase regardless of how the seller may be feeling. I suspect any reduced consumer sentiment is likely to be magnified in the larger cities than in regional parts of Australia, just as the nonsensical rush to buy toilet paper has been.
I have no doubt that once this situation is managed and under control our markets will return to normality just as they did after the bushfires earlier in the year.
If REIA receives any messages from government to be disseminated to the property industry we will do so. Aside from that, let's continue to follow the advice of the health experts and keep ourselves, friends and families safe.
ADRIAN KELLY is the REIA President
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Coronavirus may exacerbate current sellers market: REIA's Adrian Kelly

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GUEST OBSERVATION
Working from home is already so common it has its own acronym, and it’s about to get even more common still. Companies <a href="https://www.inc.com/bill-murphy-jr/amazon-microsoft-apple-google-twitter-work-from-home-stanford-study" target="_blank">like Apple, Amazon and Microsoft</a> are now advising employees to “WFH” to avoid exposure to the novel coronavirus.
But working from home can be a real challenge for employees who find themselves doing it for the first time. To address this concern, many employees are turning to digital solutions to help them interact with colleagues and stay productive away from the office.
Here are some tech options for three styles of work: formal meetings, informal discussions, and team projects. But none of them, as we shall see, is without drawbacks. 
Formal meetings
The first question on most people’s minds is how to conduct meetings with colleagues or clients. One of the most common answers is <a href="https://zoom.us">Zoom</a>, a video communication platform that combines conferencing, online meetings, chat and mobile collaboration.
Zoom is widely used as an online substitute for formal meetings, and last week its <a href="https://www.nasdaq.com/articles/stock-alert%3A-zoom-video-communications-rises-12-2020-03-05">share price surged by 12%</a> in anticipation that cornavirus quarantines will see it adopted even more widely. Among the platform’s selling-points are its ease of use, and ability to stream presentations as well as host meetings.
But while digital solutions like Zoom offer useful way for colleagues to meet, they are arguably less satisfactory for interacting with customers. Research <a href="https://www.washingtonpost.com/sf/brand-connect/hilton/the-science-of-being-there/">suggests</a> that online meetings fail to deliver the same feelings of connection and empathy, compared with a face-to-face meeting.
Informal discussions
While video conferencing is useful for formal meetings, it is less appropriate for informal chats, brief queries or rapid status updates, such as “have you sent that invoice yet?”. This task is more suited to instant messaging platforms or group chat apps.
A common tactic is to use Facebook messenger, WhatsApp or gchat. But these can be distracting and intrusive, particularly at high volumes, causing workers to lose focus and concentration.
Many companies have instead adopted <a href="https://slack.com/intl/en-au/">Slack</a> and <a href="https://products.office.com/en-au/microsoft-teams/group-chat-software">Microsoft Teams</a>, which offer instant communication without the distraction of social media. IBM has reportedly adopted Slack for <a href="https://www.businessinsider.com/ibm-slack-partnership-customer-digital-transformation-2020-2?r=AU&amp;IR=T">all of its 350,000 employees</a>. And Slack has reportedly <a href="https://edition.cnn.com/world/live-news/coronavirus-outbreak-03-06-20-intl-hnk/h_c28cf284cc1589e8947c08c270570731">asked its own employees</a> to work from home in response to the coronavirus outbreak, prompting wisecracks on social media about how they will stay in touch with one another.
But while these channels are great for zapping quick messages between team members, it can be hard to build real rapport. Research shows that being <a href="https://hbr.org/2015/09/how-to-build-the-social-ties-you-need-at-work">authentic, realistic and making time</a> with colleagues is a more natural way to build effective work relationships, and this is hard to do purely online.
Team projects
So much for meetings and chats – what about actual project management? Two options already in widespread use are <a href="https://www.google.com/drive/">Google Drive</a> and <a href="https://onedrive.live.com/about/en-au/">Microsoft One Drive</a>, which allow people to upload documents to the cloud and collaborate on them in real time.
These two platforms have already become the industry standard for sharing documents. But (and you may be sensing a theme here), sometimes team discussions require face-to-face conversations or brainstorms, which can <a href="https://hbr.org/2015/04/collaborating-online-is-sometimes-better-than-face-to-face">challenging to replicate in a purely online environment</a>.
There’s no doubt that the coronavirus has struck at a time when we have more digital options than ever before, giving a wider range of employees the opportunity to work from home with minimal disruption.
But it’s also undeniable that people still need face-to-face interactions for companies to function at their best. The likes of Zoom, Slack and Google Drive will likely see an uptick in use during the epidemic, but once it’s over they should be considered complementary solutions rather than substitutions.<img src="https://counter.theconversation.com/content/133350/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/geoffrey-mann-713012">Geoffrey Mann</a>, Sessional Lecturer, <a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/working-at-home-to-avoid-coronavirus-this-tech-lets-you-almost-replicate-the-office-133350">original article</a>.
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Working at home to avoid coronavirus, almost replicating the office

wdavis-8cCN98p7xp

The coronavirus's economic toll in numbers: Guy Debelle

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EXPERT OBSERVERS
The COVID-19 coronavirus is spreading across the world - Initially the epicentre was China, however there are now at least four further epicenters: Iran, Italy, Japan and South Korea.
Although the World Health Organisation believes the number of cases in China has peaked and should fall, case reports are climbing from countries previously thought to be resilient due to stronger medical standards and practices.
In a strongly connected and integrated world, the impacts of the disease will go beyond mortality (deaths) and morbidity (people incapacitated or caring for the incapacitated and unable to work).
Companies across the world, irrespective of size, depend on inputs from China – much more so than during the 2002-04 China-centred Severe Acute Respiratory Syndrome (SARS) pandemic.
In 2003 China accounted for less than one twentieth of world trade. It now accounts for one seventh, making it the world’s biggest importer and an integral part of most global production chains.
Just as important to the world economy, panic is distorting spending. Global stock markets have plunged.
Entire cities in China have closed and travel restrictions have been placed on people entering from infected countries.
The fear of an unknown deadly virus is similar in its psychological effects to the reaction to terrorism threats and produces a high level of stress, often with longer-term consequences.
A large number of people feel at-risk at the onset of a pandemic, even if their actual risk of dying is low.
The International Monetary Fund expects COVID-19 to knock 0.4 points off China’s economic growth target of 5.6% and 0.1 points off global growth, an assessment it will continue to update.
On Monday the Organisation for Economic Co-operation and Development sliced 0.8 points off its forecast for China’s growth and 0.5 points off its forecast for Australian growth.
As part of a large research project in the Centre for Excellence in Population Ageing Research (CEPAR) at the Australian National University, we have applied experience gained from evaluating the impact of SARS for the World Health Organisation in 2003 and 2006 to seven scenarios for COVID-19:
The scenarios vary the attack rate (the proportion of the total population contracting the virus), the mortality rate (the proportion of total population who dies), whether epidemic is a one-off (essentially temporary) or recurrs each year (essentially permanent), and whether it spreads globally or is largely confined to China.
We find that in the four scenarios where the epidemic goes global, Australia’s GDP which in the 12 months to December grew just 1.7%, would suffer a hit in the first year of between 2% and 7.9%, most likely sending GDP backwards (a recession).
In all countries the sharp hit to growth would be followed by a gradual recovery.
The results are very sensitive to the assumptions used, including government responses in each country.
In the short term, central banks and treasuries will need to make sure disrupted economies continue to function.
While cutting interest rates is an option, the shock will require a mix of monetary, fiscal and health policy responses. Quarantining affected people and reducing large scale social interaction would be an effective response.
Wide dissemination of good hygiene practices can be a low cost and highly effective response that can also reduce the extent of contagion and keep down the social and economic cost.
The longer-term responses are even more important.
Many governments have been reluctant to invest sufficiently in their health care systems, especially in public systems in less developed countries where many infectious diseases are likely to originate.
The idea that any country can be an island in an integrated global economy is being proved wrong.
Poverty kills people. However, the outbreak of COVID-19 shows that diseases, potentially generated in poor countries due to overcrowding, poor public health and interaction with wild animals, can kill people of any socioeconomic group in any country.
There needs to be vastly more investment in public health and development in the richest but also, and especially, in the poorest countries.
Our study suggests big economic costs in countries such as Australia can be avoided through global cooperative investment in public health in all countries.
We have known this for decades, yet politicians continue to ignore the scientific and economic evidence about the role of global public health in improving the quality of life and driving economic growth for us all.
 
Warwick McKibbin is a Chair in Public Policy in the ANU Centre for Applied Macroeconomic Analysis (CAMA) in the Crawford School of Public Policy at the Australian National University (ANU).
Roshen Fernando is a PhD Student in Economic Policy, at the Australian National University.
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Economic modelling of Coronavirus fallout paints grim picture for Australia; Warwick McKibbin and Roshen Fernando

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GUEST OBSERVATION
Panic buying knows no borders.
Shoppers in Australia, Japan, Hong Kong and the United States have caught toilet paper fever on the back of the COVID-19 coronavirus. Shop shelves are being emptied as quickly as they can be stocked.
This panic buying is the result of the fear of missing out. It’s a phenomenon of consumer behaviour similar to what happens when there is a run on banks.
A bank run occurs when depositors of a bank withdraw cash because they believe it might collapse. What we’re seeing now is a toilet-paper run.
Coordination games
A bank holds only a fraction of its deposits as cash reserves. This practice is known as “fractional-reserve banking”. It lends out as much of its deposits as it can – subject to a banking regulator’s <a href="https://www.propertyobserver.com.au/https://www.rba.gov.au/publications/bulletin/2010/sep/6" target="_blank">capital-adequacy requirements</a> – making a profit from the interest it charges.
If every customer simultaneously decided to withdraw all of their deposits, the bank would crumble under the liability.
Why, then, do we not normally observe bank runs? Or toilet paper runs?
The answer comes from Nobel-winning economist John Nash (played by Russell Crowe in the 2001 movie <a href="https://www.imdb.com/title/tt0268978/" target="_blank">A Beautiful Mind</a>). Nash shared <a href="https://www.nobelprize.org/prizes/economic-sciences/1994/press-release/" target="_blank">the Nobel prize in economics</a> for his insights in game theory, notably the existence of what is now called a “<a href="https://www.propertyobserver.com.au/https://www.pnas.org/content/101/12/3999" target="_blank">Nash equilibrium</a>” in “games”.
Both banking and the toilet-paper market can be thought of as a “coordination game”. There are two players – you and everyone else. There are two strategies – panic buy or act normally. Each strategy has an associated pay-off.
If everyone acts normally, we have an equilibrium: there will be toilet paper on the shop shelves, and people can relax and buy it as they need it.
But if others panic buy, the optimal strategy for you is to do the same, otherwise you’ll be left without toilet paper. Everyone is facing the same strategies and pay-offs, so others will panic buy if you do.
The result is another equilibrium – this one being where everyone panic buys.
Preventing coordination failure
So either no one panic buys (a successful coordination) or everyone does (a coordination failure).
The fear of everyone else panic buying has made some people panic buy as well. But those who are panic buying are not acting irrationally. They’re not stupid! They are executing an optimal strategy because the fear has a basis in reality: many people have experienced going to supermarkets and finding empty shelves.
Obviously, though, only one of these equilibria is desirable. So what can we do to prevent coordination failure?
One solution is a market mechanism – allowing the price of toilet paper to increase to reduce demand. This is unlikely to happen, though, given the potential backlash associated with “price gouging”.
There are two other solutions.
The first is for the government to step in as guarantor.
In 2008, for example, the market crash engendered by the subprime mortgage crisis left multiple Australian banks vulnerable to depositor runs. In response, the Australian government announced a <a href="https://www.guaranteescheme.gov.au/" target="_blank">guarantee scheme</a> for deposits. Depositors, assured the government would cover their losses even if their bank collapsed, no longer had the fear of being caught out by not withdrawing their savings.
In the case of toilet paper, the government acting as guarantor might involve holding a strategic stockpile of toilet paper. But all things considered – from logistics to costs – this probably isn’t a very good idea.
The second solution is to ration the commodity – putting limits on the amount a customer can buy. Imperfect though these buying limits are, they are feasible, as shown by the restrictions put in place by <a href="https://www.afr.com/companies/retail/coles-joins-woolworths-in-rationing-toilet-paper-20200305-p5471r" target="_blank">Australia’s supermarkets</a>.<img src="https://counter.theconversation.com/content/133065/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/alfredo-r-paloyo-438086" target="_blank">Alfredo R. Paloyo</a>, Senior Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-wollongong-711" target="_blank">University of Wollongong</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-toilet-paper-run-is-like-a-bank-run-the-economic-fixes-are-about-the-same-133065" target="_blank">original article</a>.
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