<p>Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.</p>

<p>The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.</p>

<p>The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.</p>

<p>The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" /></p>

<p>SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.</p>

<p>“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.</p>

<p>The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.</p>

<p>“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" /></p>

<p>The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.</p>

<p>Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.</p>

<p>The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.</p>

<p>COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.</p>

<p><img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" /></p>

<p>“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.</p>

<p>The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.</p>

<p>The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.</p>

<p>Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a></em></p>


Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.</p>

<p>The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.</p>

<p>The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.</p>

<p>SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”</p>

<p>The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" /></p>

<p>The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.</p>

<p>A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.</p>

<p>Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.</p>

<p><img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" /></p>

<p>The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.</p>

<p>Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.</p>

<p>The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.</p>


First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

<p>Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;</p>

<p>Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;</p>

<p>The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;</p>

<p>The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;</p>

<p>Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;</p>

<p>Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;</p>

<p>“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;</p>

<p>“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."</p>

<p>Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;</p>

<p>"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;</p>


Bottega House secures landmark riverfront site in St Lucia 

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<p data-end="157" data-start="0">The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.</p>

<p data-end="459" data-start="159"><a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.</p>

<p data-end="459" data-start="159">[smartcode_project:default project_id=112661 project_image_fid=359603]</p>

<p data-end="651" data-start="461"><a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.</p>

<p data-end="950" data-start="653">Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.</p>

<p data-end="1081" data-start="952">“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.</p>

<p data-end="1081" data-start="952">[smartcode_project:default project_id=112661 project_image_fid=355935]</p>

<p data-end="1307" data-start="1083">Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.</p>

<p data-end="1522" data-start="1309">The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.</p>

<p data-end="1522" data-start="1309">[smartcode_project:default project_id=112661 project_image_fid=361052]</p>

<p data-end="1714" data-start="1524">Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.</p>

<p data-end="1945" data-start="1716">The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.</p>

<p data-end="1945" data-start="1716">[smartcode_project:default project_id=112661 project_image_fid=359607]</p>

<p data-end="2220" data-is-last-node="" data-is-only-node="" data-start="1947">More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.</p>
</section>
</section>

<p>[smartcode_project_cta:default project_id=112661]</p>


SIERA kicks off construction at Northcliffe tower Exhale

<p data-end="320" data-start="79">Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.</p>

<p data-end="638" data-start="322">The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.</p>

<p data-end="864" data-start="640">Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352689]</p>

<p>Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.</p>

<p><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."</p>

<p>“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352687]</p>

<p><a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.</p>

<p>“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”</p>

<p>[smartcode_project:default project_id=112343 project_image_fid=352690]</p>

<p>The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.</p>

<p>“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.</p>

<p><a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


Eastern Suburbs buyers snap up ESTE Little Bay apartments

Coronavirus

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<p>EXPERT OBSERVER</p>
<p>That’s a little dramatic, perhaps, but every day since has brought us closer to it being reality.</p>
<p>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.</p>
<p>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.</p>
<p>But is it?</p>
<p>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.</p>
<p>Ali, like many others, wants recovery, “even if it takes a while to get back up and return to pre-coronavirus traveller numbers”.</p>
<p>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.</p>
<h2>Tourism dependency</h2>
<p>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.</p>
<p>But sustainability concerns in the travel and tourism sectors extend far beyond carbon emissions.</p>
<p>In many places tourism has grown beyond its sustainable bounds, to the detriment of local communities.</p>
<p>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.</p>
<p><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> <br><span class="caption">Graffiti in Barcelona: ‘Tourists go home. Refugees welcome.’</span> <span class="attribution"><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></span></p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<h2>Out of crisis comes creativity</h2>
<p>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.”</p>
<p>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.</p>
<p>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.</p>
<p>In Italian cities under lockdown, residents have come out on their balconies to create music as a community.</p>
<p><iframe src="https://www.youtube.com/embed/DDRiINXik00?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe></p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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;"></p>
<p><span><a href="https://theconversation.com/profiles/freya-higgins-desbiolles-181651" target="_blank">Freya Higgins-Desbiolles</a>, Senior Lecturer in Tourism Management, <em><a href="https://theconversation.com/institutions/university-of-south-australia-1180" target="_blank">University of South Australia</a></em></span></p>
<p>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>.</p>
<p><a href="https://theconversation.com/profiles/freya-higgins-desbiolles-181651"></a>Main image: Shutterstock</p>
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jrobinson-rf4aSBido9

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

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<p><em>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.</em></p>

<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><strong>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: </strong></h2>

<p>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).</p>

<p>2. Think of a happy memory with a friend/family member and give them a call (laugh and smile as much as you can).</p>

<p>3. Organise your wardrobe - get out the ironing board and listen to your favourite podcast (it's a form of meditation for me).</p>

<p>4. Take care of your plants and start gardening. You could even start growing your own fresh produce to complement your purchased items.</p>

<p>5. Challenge yourself and get fit. Set yourself a goal, and see if you can do 100 burpees by the end of the week!</p>

<p>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).</p>

<p>7. Limit mobile use to speaking with colleagues and clients to reduce the urge to go down the "www rabbit hole".</p>

<p>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.</p>

<p>9. Finally, focus on staying connected (with yourself especially, take note of what your body and mind are telling you).</p>

<p><em>Have tips for making working from home productive and enjoyable? Let us know in the comments.</em></p>
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COVID-19: How to adapt to working from home

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<p>The coronavirus scare has finally affected the hitherto robust capital city auction market sentiment, but not too dramatically.</p>
<p>The national clearance rate has dipped to 69 percent according to the preliminary Domain data.</p>
<p>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.</p>
<p>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.</p>
<p>Today it was 73 percent in wet Sydney, down seven percent.</p>
<p>Melbourne sat at 68 percent, so just a small dip.</p>
<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>
<p> </p>
<p>sold</p>
<p> </p>
</th>
<th> </th>
<th>
<p>($m)</p>
</th>
<th> </th>
<th> </th>
</tr></thead>
<tbody>
<tr>
<td colspan="5">
<p>This week</p>
</td>
<td colspan="4">
<p>14 March</p>
</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>
<p>Source: Domain</p>
<p>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.</p>
<p>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.</p>
<p><span>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. </span></p>
<p>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.</p>
<p><span>SQM Research calculated Melbourne had 117 sold priors, 17 rescheduled and another 39 either withdrawn/sold prior/rescheduled. </span></p>
<p><span>Sydney had 164 sold priors, 25 rescheduled and 53 SP, withdrawn or </span>rescheduled.</p>
<p><span>"All </span><span>search activity</span><span> on realestate.com.au has slowed over the past week," said </span><span>Nerida Conisbee</span><span>, chief economist with the rival property listing site last last week.</span></p>
<p><span>The Australian Financial review described search activity as "<span>a leading indicator of the health of the property."</span></span></p>
<p><span><span><span>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.</span></span></span></p>
<p>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.</p>
<p>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.</p>
<p>Some property pundits had forecast a similar success rate for auctions as the last two weeks, given the<span> interest rate cut was encouraging more people to buy</span>.</p>
<p>The realestate.com.au data for saw a bigger drop in Sydney, down to a preliminary 74 percent.</p>
<p>Canberra dipped to 66 percent.</p>
<p>The realestate.com.au data for the prior Saturday saw 83 percent in the ACT; and 82 percent in NSW.</p>
<p>Yesterday was 71 percent in Victorian, down from 77 percent on the prior weekend.</p>
<p>Last weekend was 69 percent in SA and 53 percent in Queensland.</p>
<p>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.</p>
<p>The weekend results do see contradictions as Cooley Auctions in Sydney reported <span>73 percent today selling 37/51 compared with <span>61 percent last weekend selling 33/54.</span></span></p>
<p><span><span>McGrath Sydney agent sold 41 properties today, but saw 20 pass in or get withdrawn.</span></span></p>
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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.<br><br><strong>Policy response</strong>
</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><strong>Grizzly bear</strong></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.<br><br>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><em>Source: Shiller</em></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>
<strong>PETE WARGENT</strong><em> 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>.</em>
</div>
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pwargent-M4siyDbqQY

Coronavirus confirmed a global pandemic: Pete Wargent

<html><body>
<p class="legacy"><span>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.</span></p>
<p>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.</p>
<p>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).</p>
<p>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.</p>
<p>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.</p>
<p>Just as important to the world economy, panic is distorting spending. Global stock markets have plunged.</p>
<h2>Fear is as important as trade</h2>
<p>Entire cities in China have closed and travel restrictions have been placed on people entering from infected countries.</p>
<p>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.</p>
<p>A large number of people feel at-risk at the onset of a pandemic, even if their actual risk of dying is low.</p>
<p>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.</p>
<p>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.</p>
<p>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:</p>
<p><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></p>
<p>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.</p>
<h2>Australian faces a significant hit to GDP</h2>
<p>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).</p>
<p>In all countries the sharp hit to growth would be followed by a gradual recovery.</p>
<p>The results are very sensitive to the assumptions used, including government responses in each country.</p>
<p>In the short term, central banks and treasuries will need to make sure disrupted economies continue to function.</p>
<hr>
<p><strong>Australia: percentage change in real GDP</strong></p>
<p><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></p>
<p><span class="caption">Percentage deviation from business as usual.</span> <span class="attribution"><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></span></p>
<hr>
<p>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.</p>
<p>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.</p>
<p>The longer-term responses are even more important.</p>
<p>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.</p>
<h2>Investments in overseas public health matter</h2>
<p>The idea that any country can be an island in an integrated global economy is being proved wrong.</p>
<p>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.</p>
<p>There needs to be vastly more investment in public health and development in the richest but also, and especially, in the poorest countries.</p>
<p>Our study suggests big economic costs in countries such as Australia can be avoided through global cooperative investment in public health in all countries.</p>
<p>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"></p>
<p><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), <em><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></em> and <a href="https://theconversation.com/profiles/roshen-fernando-982432" target="_blank">Roshen Fernando</a>, PhD Student in Economic Policy, <em><a href="https://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a></em></p>
<p>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>.</p>
<p>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>.</p>
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j.ballantyne1990-6AQqhLzZaK

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

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<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p><strong>ADRIAN KELLY </strong><em>is the REIA President</em></p>
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Coronavirus may exacerbate current sellers market: REIA's Adrian Kelly

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<p class="legacy">GUEST OBSERVATION</p>
<p>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.</p>
<p>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.</p>
<p>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. </p>
<p><strong>Formal meetings</strong></p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p><strong>Informal discussions</strong></p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p><strong>Team projects</strong></p>
<p>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.</p>
<p>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>.</p>
<p>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.</p>
<p>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;"><em></em></p>
<p><em><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></em></p>
<p><em>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>.</em></p>
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Working at home to avoid coronavirus, almost replicating the office

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The coronavirus's economic toll in numbers: Guy Debelle

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<p>EXPERT OBSERVERS</p>
<p>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.</p>
<p>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.</p>
<p>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).</p>
<p>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.</p>
<p>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.</p>
<p>Just as important to the world economy, panic is distorting spending. Global stock markets have plunged.</p>
<p>Entire cities in China have closed and travel restrictions have been placed on people entering from infected countries.</p>
<p>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.</p>
<p>A large number of people feel at-risk at the onset of a pandemic, even if their actual risk of dying is low.</p>
<p>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.</p>
<p>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.</p>
<p>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:</p>
<p>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.</p>
<p>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).</p>
<p>In all countries the sharp hit to growth would be followed by a gradual recovery.</p>
<p>The results are very sensitive to the assumptions used, including government responses in each country.</p>
<p>In the short term, central banks and treasuries will need to make sure disrupted economies continue to function.</p>
<p>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.</p>
<p>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.</p>
<p>The longer-term responses are even more important.</p>
<p>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.</p>
<p>The idea that any country can be an island in an integrated global economy is being proved wrong.</p>
<p>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.</p>
<p>There needs to be vastly more investment in public health and development in the richest but also, and especially, in the poorest countries.</p>
<p>Our study suggests big economic costs in countries such as Australia can be avoided through global cooperative investment in public health in all countries.</p>
<p>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.</p>
<p> </p>
<p><strong>Warwick McKibbin</strong><em> 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).</em></p>
<p><strong><span style="font-size: 12.16px;">Roshen Fernando</span></strong><em><span style="font-size: 12.16px;"> is a PhD Student in Economic Policy, at the Australian National University.</span></em></p>
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Economic modelling of Coronavirus fallout paints grim picture for Australia; Warwick McKibbin and Roshen Fernando

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<p>GUEST OBSERVATION</p>
<p>Panic buying knows no borders.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p><strong>Coordination games</strong></p>
<p>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.</p>
<p>If every customer simultaneously decided to withdraw all of their deposits, the bank would crumble under the liability.</p>
<p>Why, then, do we not normally observe bank runs? Or toilet paper runs?</p>
<p>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”.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>The result is another equilibrium – this one being where everyone panic buys.</p>
<p><strong>Preventing coordination failure</strong></p>
<p>So either no one panic buys (a successful coordination) or everyone does (a coordination failure).</p>
<p>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.</p>
<p>Obviously, though, only one of these equilibria is desirable. So what can we do to prevent coordination failure?</p>
<p>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”.</p>
<p>There are two other solutions.</p>
<p>The first is for the government to step in as guarantor.</p>
<p>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.</p>
<p>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.</p>
<p>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;"></p>
<p><span><a href="https://theconversation.com/profiles/alfredo-r-paloyo-438086" target="_blank">Alfredo R. Paloyo</a>, Senior Lecturer in Economics, <em><a href="https://theconversation.com/institutions/university-of-wollongong-711" target="_blank">University of Wollongong</a></em></span></p>
<p>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>.</p>
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