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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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

<html><body>
EXPERT OBSERVER
COVID-19 is, without a doubt, a disruption and game-changer at the same time. There are many uncertainties at present, and quite a few “doom and gloom” stories on a collapsing economy and being on the brink of a recession. There is no denying that many Australian small businesses and individuals are experiencing the brunt of it, from loss of income to having to close their businesses.
Fiscal policy, in the form of stimulus, is critical at this point, as it allows for the society to access immediate funds. Monetary policy can assist, however given that there are no legal requirements in Australia for banks to follow, plus the notion of interest capitalisation (which will cost those with loans more later on), it is a band-aid solution at best. The Australian Government has rapidly introduced a number of financial stimulus packages, targeting those who will be impacted the most.
COVID-19 is a world-wide phenomenon. The measures taken to contain the virus, as well as assistance to prop up the economy, differs from nation to nation. An analysis of the G20 countries, plus Iran, have revealed that at present Australia’s fiscal policy puts us in a strong place to ride out COVID-19.
<img class="richtext-image full-width" src="https://www.prd.com.au/media/images/PRD_Research_-_Table_1_-_Developed_Counties_Co.width-800_peM6O8C.png" alt="Fiscal Apr 2020 Table 1 - Developed Counties Covid-19" width="800" height="316">
1. Against other developed countries, Australia’s stimulus package as a % of 2019 GDP (14.4%) is on the higher end, above United States and Canada, and significantly higher than our neighbours New Zealand.
2. From a Stimulus per Capita perspective Australia is in a strong position, whereby our per capita stimulus is only second to Germany. We are well ahead.
3. Factoring in the number of jobs lost and stimulus package as a % of 2019 GDP, Australia has a strong ability to provide financial assistance, and in some instances more favourably. 
<h4>How does Australia compare to other G20 countries regarding the loss of unemployment/support for loss of income? (note: all monetary amounts are in the native country’s currency)</h4>
Currently Australians who have lost their employment or have lost partial income can access a number of government fiscal assistance, providing they can satisfy all of the requirements both on a personal and business level. These payments include (but not limited to): JobKeeper Payment ($1,500/fortnight), JobSeeker Payment ($550/fortnight), and Coronavirus Supplement ($550/fortnight). How does this compare with other countries?
United States of America - $1,200 government cash check for all residents. Individuals individuals who earn $75,000 in adjusted gross income or less would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400 -- and an additional $500 per child. The payment would scale down by income, phasing out entirely at $99,000 for singles and $198,000 for couples without children.
<ul>
<li>
United Kingdom - The government would give grants to cover 80% of a worker's salary of up to 2,500 pounds a month if businesses kept them on as staff.</li>
<li>
Turkey – Relief for pensioners, with an increase in retirement salary to Turkey Lira 1,500</li>
<li>
South Korea - During the period of business absence, 70% of the average wage must be compensated. The employees are subject to the provision of ‘allowances’ under the Labor Standards Act</li>
<li>
South Africa – South African Rand 500 a month until July as part of COVID-19 measures</li>
<li>
New Zealand - Wage subsidies &amp; leave payments to employers, however, there is yet an announcement for extra unemployment benefits</li>
<li>
France - Under the "partial unemployment" scheme, employees should apply for state benefits which provides them an allowance and that employers are banned from firing them.</li>
<li>
Germany - Claim “Kurzarbeitergeld” scheme benefits or “short-work money" for temporarily laid-off workers</li>
<li>
Indonesia - Social safety net programs to help about 70 million underprivileged citizens</li>
<li>
China, India, Canada, Italy, Iran, Japan, Mexico - Claim regular employment insurance and/or unemployment benefits</li>
<li>
Argentina - Pandemic Unemployment Support for laid-off and self-employed workers, and Job Seekers' Benefit for already unemployed individuals</li>
<li>
Brazil, Iran, Saudi Arabia – Unable to find precise information at this time, although some news websites have indicated that government assistance is currently being planned</li>
</ul>
It is not surprising that developed countries within the G20 have a more comprehensive and structured financial stimulus policy compared to developing nations. South Korea seems to lead the developing nations in their response to the loss of employment due to COVID-19.
Australia presents a comparable financial stimulus package to other developed nations, and in some cases more advanced. It is extremely substantial compared to developing countries.
<h4>Key Message</h4>
The world as we know it currently does not exist – it is in a pause. COVID-19 and the hard-hitting economic impact it brings is not exclusive to Australia, and nor are business closures and job/income losses. It is a tough time for many across the globe. To date Australia has suffered a loss of 750,557 jobs – which is extremely significant, especially in such a short period of time. Other countries, as per known data, have also suffered job losses, some to the extremes of over 1 million people in Germany and over 38 million people in India. 
At this crucial time, perspective is everything. On a micro / inward within Australia scale we may feel that the government’s fiscal policy, in the form of economic stimulus, is imperfect. In fact, ALL government policies are imperfect, as it is designed to be efficient (maximum result with minimum resources) and effective (maximum results with a minimum amount of time) at the same time. If we choose to look on a macro / worldwide comparison however, we can see that Australia’s fiscal policy is substantial and puts us in a strong position to ride out COVID-19. 
<img class="richtext-image full-width" src="https://www.prd.com.au/media/images/PRD_Research_-_Table_2_-_G20_Countries_Covid19.width-800_2jcCZ6n.png" alt="Fiscal Apr 2020 Table 2 - G20 Countries Covid19" width="800" height="410">
Dr DIASWATI MARDIASMO is the Chief Economist at PRD Real Estate 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Fiscal policy is in place for Australia to ride out Covid-19: PRD

<html><body>
GUEST OBSERVATION
“People of the same trade seldom meet together, even for merriment and diversion,” wrote Adam Smith in The Wealth of Nations (published in 1776), “but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
With the coronavirus crisis, though, Australia’s competition watchdog has decided a little more conversation is in the public interest.
The Australian Competition and Consumer Commission is lightening up on its normal competition rules by giving interim authorisation for competitors to cooperate.
On Wednesday the regulator <a href="https://www.accc.gov.au/media-release/nbn-co-telcos-to-coordinate-on-demand-surge-and-consumer-support-package" target="_blank">authorised the NBN Co</a> and the five biggest telcos (Telstra, Optus, Vodafone Hutchison, TPG and Vocus) to “work together to take measures necessary to keep Australia’s telecommunications networks operating effectively”.
On Tuesday it <a href="https://www.accc.gov.au/media-release/medicine-wholesalers-to-co-operate-on-access-to-pharmaceutical-products" target="_blank">authorised wholesalers of medicines</a> “to co-operate to facilitate distribution of essential medication and pharmacy products.
On Monday it <a href="https://www.accc.gov.au/media-release/banks-authorised-to-co-operate-on-loan-relief-and-services" target="_blank">authorised banks</a> "to co-operate to provide supplementary relief packages for individuals and businesses”.
And last week it <a href="https://www.accc.gov.au/system/files/public-registers/documents/Interim%20Authorisation%20Decision%20-%2023.03.20%20-%20PR%20-%20AA1000477%20Coles%20%26%20Ors.pdf" target="_blank">authorised the major supermarket</a> chains (Woolworths, Coles, Aldi and IGA/Metcash) to coordinate their activities to ensure the supply of retail products, particularly those in short supply.
What is cartel conduct
Normally a competition watchdog guards against any collaboration or collusion between competitors. There are hefty fines and even criminal penalties to deter competitors talking to each other.
<a href="https://www.accc.gov.au/business/anti-competitive-behaviour/cartels">Cartel conduct</a> – agreements to fix prices, share markets, rid bids or control the amount of goods and services available to buyers – is arguably the biggest threat to a well-functioning competitive market.
Rather than competing on product quality, price and service, cartels maximise profits by agreeing to charge consumers more, pay suppliers less and putting the squeeze on other competitors. Competition officials have described cartels as “<a href="https://ec.europa.eu/commission/presscorner/detail/en/SPEECH_00_295" target="_blank">cancers on the open market economy</a>”.
But these are not normal times. The normal behaviour that allows markets to function has been thrown into flux. Panic buying of toilet paper, hand sanitiser, pasta and other staples has led to significant supply shortages. Video conferencing and streaming has led to a surge in broadband data use.
In these “unprecedented circumstances”, the watchdog has decided the benefits of permitting competitors to cooperate to secure the supply of essentials goods outweigh the risks.
Different times, different conditions
History shows cartel conduct is tempting to companies in hard economic times. In fact, it’s even tempting to regulators.
<img src="https://images.theconversation.com/files/325142/original/file-20200403-74889-r5xbsg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
 A 1933 US Postage stamp commemorating the National Recovery Administration established under National Industrial Recovery Act. <a class="source" href="https://en.wikipedia.org/wiki/File:New_Deal_N.R.A._3c_1933_issue_U.S._stamp.jpg" target="_blank">Wikimedia</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
In 1933 the United States legalised cartel conduct with the National Industrial Recovery Act. The intention was to assist recovery from the Great Depression. Agreements to restrict output and fix prices were seen as a short-term solution to keep businesses afloat. It has since been argued the US law <a href="https://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?article=1016&amp;context=yjreg" target="_blank">actually slowed the recovery</a> by converting “otherwise competitive industries into highly regulated, cartelised, and often inefficient industries”.
The US government’s mistake is not one the Australian Competition and Consumer Commission is making.
Its interim authorisations allow officials from the regulator and the federal government to monitor discussions. Every arrangement must be approved by the regulator. Everything is “out in the open”, eliminating a key feature for any cartel arrangement to succeed – secrecy.
Conditions now are also very different to those in 1930s America.
Then the issue was over-supply. Now it’s mostly a problem of undersupply, due to demand surges.
This is not a situation in which supermarkets, pharmaceutical companies and broadband providers have anything to gain through restricting supply.
They might have an interest in increasing prices. But the competition watchdog has expressly forbidden talk about retail prices.
A tight leash needed
European regulators are taking a similar approach to Australia. The European Commission <a href="https://ec.europa.eu/competition/ecn/202003_joint-statement_ecn_corona-crisis.pdf" target="_blank">has declared</a> it will not actively intervene against “necessary and temporary measures” to avoid supply shortage:
“Considering the current circumstances, such measures are unlikely to be problematic, since they would either not amount to a restriction of competition […] or generate efficiencies that would most likely outweigh any such restriction.”
Even so, there are risks. There are anti-cartel laws for good reason. The longer competitors spend working together, as Adam Smith noted, the greater the risk of conspiracy.
The competition watchdog will need to keep talks on a tight leash. Apart from price, it needs to ensure companies do not share information about operations and processes that would allow them to act independently in a mutually beneficial manner. This would give us exactly what cartel laws are meant to stop – higher prices.
Australia’s competition watchdog is arguably better equipped for this task than its European counterparts. But with more industry requests for competitors to cooperate likely, it will need to stay vigilant, making full use of its powers to monitor talks and ensure cooperation only goes on for as much, and as long, as absolutely necessary.<img src="https://counter.theconversation.com/content/135303/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/sven-gallasch-1014219" target="_blank">Sven Gallasch</a>, Lecturer in Law, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</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/look-whos-talking-australias-telcos-banks-and-supermarkets-granted-exemption-to-cartel-laws-135303" target="_blank">original article</a>.
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Look who's talking: Australia's telcos, banks and supermarkets granted exemption to cartel laws

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Herron Todd White, Australia’s largest independent property valuation and advisory firm, said easier access to existing equity in homes and investment properties would help ease financial pressure for Aussies during the COVID-19 crisis.
Gary Brinkworth, CEO of Herron Todd White, said both the government and regulators must urgently work with financiers to unlock this source of stored wealth and help struggling individuals and businesses through this unprecedented time.
“If ever there were a time to help Aussies get access to their stored-away property wealth, it’s during the Coronavirus emergency.
“The integrity and discipline of the current lending system can be preserved and leveraged to help property owners through this challenging period.
“We believe the time to act is now, to provide additional liquidity to eligible property owners to help them navigate these uncertain times, creating an opportunity to survive this downturn and establish a strong position which will help contribute to the economy.”
Mr Brinkworth said the COVID-19 crisis had highlighted how some Aussie property owners were ‘asset rich, cash poor’ and providing the ability for many property owners to access the equity in their assets is a clear way to not only survive the uncertainty of the next few months but position property owners to bounce back quickly.
“As property professionals, we realise the level of equity drawdown and the impact on property values due to COVID-19 will need to be part of the discussion, but it’s ludicrous to not have this conversation in the current climate.
“There’s an important role valuers will play in preserving the integrity of the financial system while unlocking additional liquidity during this challenging period. As such, we will be supporting our clients and our industry body, the Australian Property Institute, in their efforts to put this initiative front and centre.”
Mr Brinkworth said from his discussions with industry associates, finance providers seemed ready to act swiftly in making equity available to owners.
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“This kind of industry support and through Government incentives and the cooperation of the different stakeholders, should allow us to realise the potential of this initiative at a time when people need it most”.
Mr Brinkworth said the nation’s strong real estate sector had been a leading source of wealth building through decades of sustained value growth.
He said under normal circumstances equity was a wealth buffer for owners to reinvest or live on in retirement, but it should now be drawn upon as a financial safety net.
“We are calling on the government and regulatory bodies, to work together to make this possible, to encourage property owners to leverage their equity’.
Main Photo:<a href="https://theinsideinvestor.com.au/wp-content/uploads/2019/06/equity_release.png" target="_blank"> Equity Release/The Inside Investor</a>.
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Property valuers call for equity release to ease financial burden amid COVID-19 pandemic: HTW

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An independent advocate for the preventing and ending of homelessness in Australia is hosting an online forum on April 7, 2020 from 1:30 to 3:00pm AEST.
<a href="https://aaeh.org.au" target="_blank">The Australian Alliance to End Homelessness (AAEH)</a> believes, "Despite the common misconception to the contrary, the scale of homelessness in Australia is both preventable and solvable."
AAEH specifically works with local communities at all levels to ensure everyone has access to safe and sustainable housing services and that any incidents of homelessness that do occur are rare, brief and non-recurring. 
The free online Zoom webinar, 'Rough Sleeping Responses to COVID-19 Forum' will include social sector leaders across the country to discuss what steps need to be taken to support Australians experiencing homelessness in this health and economic crisis. 
Key speakers include: 
<ul>
<li>David Pearson, Australian Alliance to End Homelessness (Host)</li>
<li>Paul Flatau, Director Centre for Social Impact, University of Western Australia (WA)</li>
<li>Karyn Walsh, CEO, Micah Projects, Home for Good Service (QLD)</li>
<li>Kim Holmes, Neami National, Street to Home Service (SA)</li>
<li>Andrew D'Archy, Launch Housing, Getting Housing (Vic)</li>
<li>Shane Jakupec, Neami National, Street to Home Service (NSW)</li>
<li>Jed Donoghue, Housing and Homelessness, Salvation Army (Tas)</li>
<li>Samantha Henry, Senior Manager, Northside Community Service (ACT)</li>
<li>John Berger, Executive Officer, WAAEH (WA)</li>
</ul>
They will take part in the forum, identifying and discussing what actions are being taken and what else needs to be done to better respond to this unprecedented crisis. 
The forum will also be an opportunity for AAEH to launch its <a href="https://aaeh.org.au/assets/docs/20200120-POLICY-PROPOSAL_Leaving-no-one-Behind.pdf" target="_blank">Health and Homelessness paper: 'Leaving no one Behind'</a>.
<a href="https://events.humanitix.com/aaeh-rough-sleeping-and-covid-19-forum" target="_blank">Registration</a> for the webinar is free, and connection details will be emailed to registered attendees. 
 
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COVID-19 pandemic online forum to discuss impact on homeless Australians during unprecedented times

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The pre-Easter Super Saturday online auction remnants found it tough to secure buyers across the capital cities today.
Melbourne's success rate was 30 percent.
Sydney scored a 39 percent preliminary success rate, according to Domain.
There was a 34 percent national clearance rate.
Domain reported there were originally 1224 auctions scheduled for Sydney, of which 36 per cent were shifted to private sale and 21 per cent to online auctions.
The status of a further 27 per cent was unclear.
Melbourne was set to have 1248 auctions, before 65 per cent became private treaty offerings and just six per cent shifted to online auction, with the status of another 18 per cent unclear.
The REINSW does not provide statistics, but CoreLogic advised there were just the 51 sales on Saturday across Sydney.
The REIV reported just 31 properties were sold at Saturday auction.
Dr Andrew Wilson at My Housing market put the Melbourne clearance rate at 29 percent.
Canberra saw a 46 percent success rate, according to realestate.com.au, while Queensland had a 20 percent clearance rate, Dr Wilson calculated.
It was 17 percent in Perth, according to realestate.com.au which adopts a different method without including withdrawn results.
Across the country, Ray White auction agents cleared 33 per cent of all stock under the hammer today but the campaign clearance number climbed to 57 per cent once all the sold priors were accounted for in this week’s tally. 
There was some Sydney success stories including 5 Park Street, Epping which sold through McGrath agent Betty Ockerlander at $1.32 million.
Auctioneer Troy Malcolm pointed out the auction guide was $1,150,000 to $1,265,000 to the 10 registered online bidders.
Some 138 viewers tuned in to see the opening bid of  $1,170,000
There were 54 bids from the five participating buyers.
In Sydney's Haberfield, the online auction of a two-bedroom semi-detached house at 238 Hawthorne Parade saw a cheeky $100,000 opening offer.
It was swiftly rejected with the next bid at $950,000, selling eventually at $1.22 million.
At 40a Brown St Newtown the top bid of $3,225,000 was not enough to secure the four bedroom property which had come with a $3 million Ray White price guide.
The GAVL online system secured a $1,060,000 sale at Merrylands.
There was a $1.065 million sale at Pretty Beach on the NSW Central Coast after attracting four registered bidders. The agents held more than 15 private inspections with local families looking for their dream home location.
The top sale in Sydney was secured pre-auction with $4.9 million paid for 24 Tipper Avenue, Bronte..
There was a $1.95 million top sale in Melbourne in Parkville through Buxton.
The price guide had been $1.85 million to $1.9 million.
McGrath saw a $1,060,000 sale when 24 Brigalow Street, O'Connor in the ACT went to auction through agent Maree Van Arkel
There four four registered bidders with just the two participating after the opening bid of $900,000.
Cameron Kusher, realestate.com.au’s executive director of economic research, says the COVID-19 pandemic is forcing property businesses to innovate “at a pace never seen before”.
Prime Minister Scott Morrison announced bans on public open for inspections and on-site auctions two weeks ago.
April was set to be relatively quiet after the traditional pre-Easter surge given the school holidays and Anzac break.
A significant number of intending May sellers will now wait and see given understandable health concerns about letting in strangers to their homes, and finding somewhere to be for that period of time.
There will also be rising doubts about getting their prices hopes that they had anticipated earlier this year.
The market still has buying activity, but not from new entrants, rather those who have sold and need to secure alternative premises.
The auction market in the good times in some suburbs represents a very high proportion of sales, but around 15 percent across the entire market.
At the moment it would be barely 5 percent, so buyers, sellers and agents will need to get their mindset into what's happening in the curtailed private treaty market. 
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jchancellor-FAypfDUnLy

Online real estate auctions see weakened market on pre-Easter Super Saturday

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Working from home is not a foreign concept to the professional industry, with studies revealing that <a href="http://blog.au.indeed.com/2019/01/29/report-68-australian-employers-allow-remote-working-attitudes-divided/">two-thirds of Australian employers</a> allowed their employees to work remotely last year. But what was once considered a luxury or an indicator of the modern professional has since become the key to survival for organisations and industries across the world.

The ability to shift to a remote workplace is a privilege in itself and one that was not always feasible sans the technology age. Nowadays, we have access to modern technology and software that allows employees to remotely access their work system from anywhere in the world and with the addition of work equipment such as laptops and screen monitors, a home office is formed. But like a traditional workplace, it takes more than just equipment and programs to run a productive and cohesive business.

As an increasing number of organisations in Australia encourage their employees to work remotely, to urgently and effectively reduce the spread of COVID-19, employers and managers are posed with a new breed of management challenges to navigate.

<h2>Open communication is paramount </h2>

Working remotely has the potential to inspire productivity in employees but on the flip side, the lack of structure can just as easily hinder motivation.

Expectations of each employee, regardless of position, needs to be established and clearly communicated at the early stages of the relocation and must remain consistent throughout the process.

It doesn’t matter if an organisation has five or 50 employees, an open-door style policy of communication between senior management and employees is the most effective way to maintain team cohesion as it will reduce the likelihood of miscommunication and will allow trust to build between the manager and employees.

Consistent and open dialogue is also key to encouraging employees to display a high level of commitment, something that is highly valued at a time like this, as opposed to just the communal obligation that is associated with a traditional workplace.

<h2>Encourage a set workday structure </h2>

Encouraging employees to structure their day around their traditional routine is an effective way to maintain normalcy in a new work environment.

All employees should schedule in set breaks, just as they would have in their regular office hours and make the effort to get out of the house at least once a day. Whether it is a coffee break or an after-lunch walk, these scheduled breaks create important boundaries between personal and professional lives.

As most individuals bunker down to <a href="https://snacknation.com/blog/social-distancing-at-work/">practice social distancing</a>, lunchtime catch-ups and office banter can seem like a long distant memory. To mitigate feelings associated with isolation it is important that managers encourage socialisation between staff as if they were working in the same space. Employees should be encouraged to take advantage of communication software, whether it be Facetime, Slack or Zoom, to engage with each other as if they were communicating across their desks. These platforms are also great for bouncing ideas around or to check in on how someone is going.

<h2>Increased focus on mental health </h2>

Positive social and mental health needs to be a priority in any workplace but given the peculiar new reality we are all facing, it has never been more important to manage.

Managers and organisations need to foster positive relationships between employees by providing a platform to discuss non-work related topics. This could include company-wide lunches via video conference or phone calls between employees during their lunch break.

Although working remotely creates a physical separation between the HR team and employees, the relationship shouldn’t suffer as a result. This means scheduling regular meetings where the team can check in with every single staff member personally to see how they are dealing with remote working life. A consistent schedule allows employees to discuss any issues related to remote work, such as feeling lonely or isolated or struggling with their workload or new work environment in any way.

With no foreseeable end in sight for COVID-19, remote work arrangements and virtual workplaces are rapidly becoming the new norm across the globe. It is with ongoing communication and mutual understanding that employers and employees can maintain momentum for their organisations. Looking past the negative undertones, virtual workplaces offer the opportunity for us all to develop our businesses and employee relations, to offer vital support to each other to meet the demands at hand and ahead.
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How to effectively manage a remote workplace during ‘social distancing’

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These days, it’s all about <a href="https://www.youtube.com/watch?v=bYQjssb7xdk">social distancing</a>. Studies have shown that the novel coronavirus (COVID-19) has an incubation period of five days — a significantly longer period of time compared to the common cold, which is generally one to two days — and patients can infect others before beginning to show symptoms. Before a cure is found, social distancing is the way to go about limiting the spread of the virus. 

In a <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-03-20/coronavirus-covid-19-scott-morrison-enhanced-social-distancing/12075532">press conference</a> last week, Prime Minister Scott Morrison advised Australians to maintain at least 1 to 1.5 metres of physical distance between one another in public spaces. However, social distancing is just as critical at home as it is outdoors, especially if anyone at home had been in contact with a possible carrier. The Australian Department of Health has released <a href="https://www.health.gov.au/sites/default/files/documents/2020/03/coronavirus-covid-19-information-on-social-distancing.pdf">guidelines</a> to do so.

Social distancing should be and can be, pre-emptive and low cost, according to the <a href="https://www.mja.com.au/journal/2020/212/10/pre-emptive-low-cost-social-distancing-and-enhanced-hygiene-implemented-local">Medical Journal of Australia</a>. In other words, social distancing should be practised as early as possible as a preventive measure, and it can be achieved without spending money on sophisticated medical equipment.

<h2>The following applies to all households:</h2>

Maintaining hygiene around the household is essential, especially in ‘high touch’ areas such as the bathroom and the kitchen. Health officials discourage against touching one’s face, so perhaps intimate contact between family members should be avoided for the time being. Health officials are also encouraging people to take extra precautions when coughing or sneezing. Fluids can easily pass on from one person to another through hands; considering the high infection rate of COVID-19, this etiquette should not be taken lightly. The correct and socially responsible way is to cough or sneeze is into the <a href="https://www.sbs.com.au/topics/science/humans/article/2016/02/15/why-you-should-sneeze-your-elbow">crook of your elbow</a> and always remember to wash that item of clothing as soon as you can. 

<h2>For households with members under quarantine, or members who are ill: </h2>

In addition to the above steps, extra steps have to be taken to contain the spread of the virus under one’s roof. If a family member at home is ill, they should ideally stay in an isolated room, and reduce all physical contact with other members of the household.

If possible, there should only be one person caring for the sick individual, and the carer should be wearing a surgical mask at all times. When bringing food to the patient, it is encouraged to leave it by the door or a place where the patient can collect it without being in contact with the carer. The door of the patient’s room should also be kept closed at all times to reduce the risk of the virus travelling to other parts of the home.

If anyone at home is exhibiting symptoms of COVID-19, <a href="https://www.health.gov.au/news/health-alerts/novel-coronavirus-2019-ncov-health-alert/what-you-need-to-know-about-coronavirus-covid-19#how-to-seek-medical-attention">follow instructions from the Department of Health</a> and seek medical attention immediately. For serious symptoms, such as difficulty breathing, the urgent medical helpline is 000.

The Australian Government has also set up a National Coronavirus Helpline for those who wish to seek information about the virus. The number, 1800 020 080, is available 24 hours a day, seven days a week. 
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COVID-19: Is it possible to practise social distancing at home? Absolutely

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The NSW Land Tax system is crippling investors as tenants struggle to pay rent and must be completely overhauled, according to Urban Taskforce CEO Tom Forrest.
“Land Tax relief is critical for the survival on many companies that are being forced to pay taxes on land which is delivering little or no return at all”, Mr Forrest said.
“When land is re-zoned, land tax is levied on the new `higher use’ potential of that re-zoned land. However, the NSW Planning system, the slowest in Australia for every category of development application, levies land tax on the highest and best use related to the new zoning while investors and property developers wait, in some cases years, for development approvals.
“Worse – with COVID 19 having resulted in the shut-down of many businesses, no relief has been offered to land-lords”, Mr Forrest said.
Land Tax is being charged based on the highest and best use for the land, assuming the full economic potential of the land zoning is being realised.
“Where land has been re-zoned, but a new DA approval is stuck in the planning system, Land tax should be based on the old (lower value) zoning or waived altogether.
“If deferrals are contemplated by the NSW Government, interest must not be charged on the unpaid land tax”, Mr Forrest said.
Mr Forrest called on the NSW Government to waive land tax where land-owners can show they have been impacted by COVID 19.
“These simple changes would give much needed relief to property owners who rely on rental income for the viability of their business.”
TOM FORREST is the CEO of Urban Taskforce
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Land tax overhaul needed during shutdown; Urban Taskforce CEO Tom Forrest

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COVID-19 has gone from a distant news story to <a href="/expert-insights/buying/changes-the-real-estate-industry-will-experience-as-a-result-of-the-coronavirus">now impacting every one</a> of us at a speed that has taken the nation – and the world – by surprise.

<a href="/guides/covid-19-how-to-adapt-to-working-from-home">Adaptation is now paramount</a> for every operator, in every industry, and real estate is no different. Service providers need to find ways to adjust, and fast, because people still need to buy and sell property – perhaps even more so once the real economic impact starts to play out.

Let’s look at some of the potential effects of Coronavirus on the Australian property market.

<h2>March/April 2020 – immediate effects &amp; emerging trends</h2>

The Australian property market <a href="https://reia.asn.au/backing-the-governments-advice-on-auctions-and-open-houses/">changed overnight on March 25</a>, with both in-room and onsite auctions, and open homes, being <a href="https://www.pm.gov.au/media/update-coronavirus-measures-24-March-2020">banned by the Prime Minister</a> and industry bodies bracing themselves for (and lobbying against) further restrictions.

Buying a home or an investment property is a significant decision often fraught with potential stresses at the best of times. So not surprisingly, we already see a softening in the market and both investors and homeowners putting searches on hold.

Having said that, there are existing ‘cashed-up’ buyers out there who need to buy now, having already sold their existing house. Investors will also certainly look to make the most of the current situation and buy discounted stock. Prices are, as you’d expect under such circumstances, coming off. With lower levels of buyers in the market, competition is not as strong, which means that results have not been as high as they were even a couple of weeks ago.

In the medium term, as employment fluctuates and, devastatingly, people lose their jobs, many Australians are going to be highly motivated to sell their property. This will cause further softening of prices in the property market and, because of social distancing rules and the measures people are taking to prevent possible infection, it is becoming increasingly difficult – and unappealing – to do even private inspections.  

This will likely be the case for the next couple of months as the Coronavirus pandemic peaks – and is hopefully resolved – in Australia.

<h2>The longer-term projection?</h2>

Once we’ve managed to get through this immediate crisis and the worst of the pandemic’s impact has dissipated, we’d expect is for <a href="/news/covid-19-understanding-what-you-can-and-cant-control-the-importance-of-cross-referencing-facts">people’s collective fears</a> to diminish fairly quickly, resulting in a jump in pricing.  Buyers currently holding off their searches will return, increasing competition. But ultimately, it’s a grey area for both the Australian and the global economy, so the long-term economic impact of Coronavirus simply isn’t known.

<h2>Buyers, don’t be afraid to seek help</h2>

Buyers’ agents – agents acting solely on behalf of buyers during a property transaction – are inherently well equipped to help buyers navigate some of the immense challenges the COVID-19 pandemic presents.

<a href="/guides">Video walkthrough</a> provides a full virtual property tour that can be viewed from anywhere in the world. These tours were originally created to service the needs of people who didn’t have physical access to view properties, such as overseas investors, however now this content can be made use of by everyone.

Bidding services are another option, enabling buyers to avoid auction rooms. 

<h2>Advice from the experts</h2>

If you’re looking for your new home or a long-term purchase, negotiate now. You’ll find you’ll be in a marketplace that’s going to be <a href="https://www.theguardian.com/australia-news/2020/mar/20/australian-housing-market-will-hit-the-wall-in-coronavirus-recession-experts-say">down between 10-20%</a> from its standard peak pricing, and you’re already getting a discount. If you’ve found what you feel is the right home for your wants and needs, don’t be too cautious about purchasing – if you have secure financials and have done thorough due diligence research.

A bargain-hunter will want to buy the cheapest possible property at the best price, so watch and wait over the coming weeks.

Make sure your finance has been approved. If you’re ready to act swiftly and <a href="/developments">secure the property that’s right for you</a>, at the right price. 

Nobody knows what the market is going to be doing in <a href="/news/covid-19-how-the-world-previously-recovered-from-sars-and-whether-or-not-we-can-do-the-same-this-time-round">6, or even 3 months</a>. If you are in the market to buy property, do as much research as you can, and find out what your trusted experts – who live and breathe the market daily – are forecasting and would recommend for you as they may just point you to a great opportunity.  
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How to navigate buying property during the COVID-19 crisis 

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In modern cities, our public spaces represent our shared values. They are our common assets, owned, maintained and used by all members of our society. The outbreak of coronavirus and its immediate impacts, such as social distancing, have raised many questions about the role of public space in such times.
Since the World Health Organisation declared the <a href="https://www.bbc.com/news/world-51839944" target="_blank">COVID-19 pandemic</a>, countries had been forced to adopt social isolation measures very quickly. <a href="https://www.smh.com.au/politics/federal/no-handshakes-1-5m-distances-new-social-rules-for-australians-20200315-p54a96" target="_blank">Australia</a> has progressively increased enforceable <a href="https://theconversation.com/view-from-the-hill-entertainment-venues-closed-in-draconian-measures-to-fight-the-virus-134360" target="_blank">social distancing measures</a>. India’s nearly 1.4 billion people have been <a href="https://www.theage.com.au/world/asia/india-imposes-world-s-largest-lockdown-to-prevent-spread-of-virus-20200325-p54dkf" target="_blank">ordered not to leave their homes</a>. In Europe, <a href="https://www.aljazeera.com/news/2020/03/spain-imposes-italy-style-lockdown-bid-coronavirus-200314233749980" target="_blank">first Italy</a>, then <a href="https://www.euronews.com/2020/03/19/coronavirus-which-countries-are-under-lockdown-and-who-s-next" target="_blank">Spain, France, Belgium</a> and <a href="https://www.theguardian.com/world/2020/mar/23/boris-johnson-orders-uk-lockdown-to-be-enforced-by-police" target="_blank">the UK</a> have entered periods of total lockdown. It’s happening closer to home in <a href="https://www.theguardian.com/world/2020/mar/23/kiwis-go-home-new-zealand-to-go-into-month-long-lockdown-to-fight-coronavirus" target="_blank">New Zealand</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/1/5_Cities3.jpg" alt="">
Instead of the usual crowds, the view from the top of the Spanish Steps in Rome, Italy, is of a deserted street and square. Maurizzio Brambatti/EPA/AAP
While the <a href="https://theconversation.com/itd-be-a-mistake-to-shut-financial-markets-more-than-ever-we-need-them-to-work-134387" target="_blank">economic impacts</a> of the pandemic are becoming obvious, the influence upon public space still remains uncertain.
With businesses being forced to close and whole sectors urged to work from home, <a href="https://www.washingtonpost.com/graphics/2020/national/coronavirus-photos-of-impact-in-places-around-the-world/" target="_blank">streetlife is grinding to a halt</a> across the world. As fear of infection has increased, <a href="https://www.theverge.com/2020/3/13/21179032/public-transportation-coronavirus-covid19-ridership-nyc-sf-la-dc" target="_blank">public transport use has plummeted</a>.
Australia is among the increasing numbers of countries to close “non-essential” public space, including restaurants, cafes and cinemas. Around the world, major sporting events, music concerts and comedy festivals have all been cancelled. Any <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-03-13/australians-urged-to-reconsider-non-essential-travel/12054484" target="_blank">non-essential travel</a> and meetings are being discouraged or banned.
These measures are significant: they could uproot the very foundations of how people interact in public.
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Despite being made free to reduce infection risks, public transport in Portugal is almost deserted. Manuel de Almeida/EPA/AAP
While this intense monitoring of public space is a temporary control, it raises questions about the future. Will we return to our normal habits once it’s all over? Will coughing on the subway be forever taboo?
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Sporting grounds are one of the great public meeting places for Australians, but games were being played in empty stadiums before competitions shut down altogether. Darren Pateman/AAP
<h2>Collectivism or individualism?</h2>
The coronavirus pandemic has had immediate impacts – both negative and positive – on how people interact with each other in public. <a href="https://www.vox.com/identities/2020/3/14/21179019/xenophophia-chinese-community-sunset-park" target="_blank">Xenophobia</a> and racial stereotyping have led to <a href="https://www.mamamia.com.au/coronavirus-racism-australia/" target="_blank">antisocial public behaviour</a>. And supermarkets have become stages for public <a href="https://www.theverge.com/2020/3/13/21179032/public-transportation-coronavirus-covid19-ridership-nyc-sf-la-dc" target="_blank">fights over toilet paper</a> and hand sanitiser.
In spite of this, we have also seen instances of collectivism and urban resilience. In Italy, the national lockdown has forced people to create a new type of public space. Citizens are taking to their balconies and windows to enjoy music together, <a href="https://www.theverge.com/2020/3/13/21179032/public-transportation-coronavirus-covid19-ridership-nyc-sf-la-dc" target="_blank">sharing songs across buildings and above streets</a>.
<iframe src="http://www.youtube.com/embed/nNxhSe4TiOQ" frameborder="0" width="425" height="350"></iframe>
People play music and interact from their balconies, as Italy continues its lockdown.
It’s a reminder that connection and interaction are integral to our society even in times of crisis. But is this particular type of collectivism a product of urban density? These scenes may not be so easily replicated in Australia’s sprawling suburbs. However, we are seeing other <a href="https://www.theage.com.au/national/victoria/kindness-outbreak-keeping-people-occupied-and-entertained-20200316-p54and?fbclid=IwAR3RiXvSw29EUBNzE79CwMbBtZKvU-V_p9SaGBWFkt2QTrHX_wg7OjZMs34" target="_blank">displays of community</a>.
<h2>What will fill the void?</h2>
The practice of self-isolation raises many uncertainties about public space. Daily human contact is ingrained in the ways people interact in public spaces. Will social isolation lead to a more individualistic approach to public spaces?
In 2020, perhaps this type of physical isolation will not feel so foreign as it might once have. Email, social media and the sharing economy already provide the necessary digital infrastructure.
The role of technology will be heightened as digital space becomes even more prominent as a platform for sharing information and enabling human interaction. Events like these also highlight the shortfalls of our digital infrastructure, in particular the <a href="https://theconversation.com/coronavirus-telcos-are-picking-up-where-the-nbn-is-failing-heres-what-it-means-for-you-133905" target="_blank">need to improve our national broadband network</a> (NBN).
Coronavirus will change the ways we work and study. But it won’t remove our desire for human connection.
Our trust in public spaces will need to be rebuilt if we are to rebuild our economy and our society. In the face of generational issues such as climate change and homelessness, there is hope coronavirus might actually offer us an opportunity to radically reassess our communal values.<img src="https://counter.theconversation.com/content/133763/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/tahj-rosmarin-667275" target="_blank">Tahj Rosmarin</a>, Research Officer, Faculty of Architecture, Building and Planning, <a href="https://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/public-spaces-bind-cities-together-what-happens-when-coronavirus-forces-us-apart-133763" target="_blank">original article</a>.
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