<p><a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.</p>

<p>The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.</p>

<p>Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.</p>

<p>The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.</p>

<p>The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments</p>

<p><img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" /></p>

<p>Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.</p>

<p>But one of the biggest components of the proposal is what sits between the buildings.</p>

<p>Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.</p>

<p>The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.</p>

<p>Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.</p>

<p>SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.</p>

<p>The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.</p>

<p>The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.</p>

<p>Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.</p>

<p><img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" /></p>

<p>SP Setia plans to deliver the development across three stages.</p>

<p>Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.</p>

<p>If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

<p>Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.</p>

<p>Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.</p>

<p>The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.</p>

<p>“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.</p>

<p>"Eight residences is exceptionally boutique, but that's precisely what this site calls for.</p>

<p>“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”</p>

<p><img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" /></p>

<p>The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.</p>

<p>The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.</p>

<p>The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.</p>

<p><img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" /></p>

<p>The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.</p>

<p>It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.</p>

<p>Heritage has subsequently played a significant role in Cera Stribley's design.</p>

<p>The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.</p>

<p>Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.</p>

<p><img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" /></p>

<p>Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.</p>

<p>A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.</p>

<p>A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.</p>

<p>Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.</p>

<p>Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.</p>

<p>The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.</p>

<p>Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.</p>


Lowe Living unveils Middle Park apartment development

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.</p>

<p data-end="1296" data-start="1013">The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion</p>

<p data-end="1296" data-start="1013"><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;</p>

<p>“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" /></p>

<p>Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.</p>

<p>“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.</p>

<p>“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.</p>

<p>“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" /></p>

<p>Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p><a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.</p>

<p>Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.</p>

<p>The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.</p>

<p>The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.</p>

<p>A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.</p>

<p><img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" /></p>

<p>The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.</p>

<p>"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.</p>

<p>"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."</p>

<p>The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."</p>

<p>Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.</p>

<p>Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.</p>

<p>The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.</p>

<p>The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.</p>


First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<p><a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;</p>

<p>Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367193]</p>

<p>The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;</p>

<p>Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;</p>

<p>"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.</p>

<p>"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367183]</p>

<p>Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;</p>

<p>"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;</p>

<p>Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.</p>

<p>The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=107520]</p>


The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

COVID-19

<html><body>
<div>EXPERT OBSERVER</div>
<div> </div>
<div>As Australia gets back to business I've been following the UK government's inept handling of the Coronavirus with increasingly wide-eyed incredulity.</div>
<div> </div>
<div>The cost to date has now been estimated at a mind-boggling £284 billion according to the government's own spending review this week. </div>
<div> </div>
<div>If you were wondering what exactly has been achieved by this interplanetary level of spending (so far), then you wouldn't be Robinson Crusoe there.</div>
<div> </div>
<div>With the Brits expected to announce approval of the rollout of a Biontech/Pfizer jab as early as this coming week then the UK's effective lockdown will likely continue through until the new year, accounting for thousands more blameless small businesses.</div>
<div> </div>
<div>To add insult to injury the botched and inoperable test-and-trace system has alone cost an absurd £22 billion, single-handedly erasing years of pointless austerity measures.</div>
<div> </div>
<div>Britain's public sector net debt will soon be well above 100 per cent of GDP and back to the highest level since the post-war years. </div>
<div> </div>
<div>Higher taxes will doubtless be back on the agenda soon enough to pay for it all, but this time around capital will likely up and leave. </div>
<div> </div>
<div>Just the Brexit debacle to finish off now before the incumbent PM gets ushered out of politics...</div>
<div> </div>
<div><strong>Money printer go #Brrr...</strong></div>
<div> </div>
<div>It's remarkable how quickly views have changed in respect of quantitative easing and related stimulus. </div>
<div> </div>
<div>Fears of inflationary spirals in the financial crisis aftermath have been replaced the money printers being embraced with joyful abandon. </div>
<div> </div>
<div>Grant Williams of RealVision and TTMYGH rustled up this belter of an infographic this week to compare the scale of the Covid-19 stimulus to that of the 2008 financial crisis. </div>
<div> </div>
<div>
<div class="separator"><img src="https://1.bp.blogspot.com/-Z8fJVDAqWXQ/X8P9QxCvh9I/AAAAAAAA5h8/sEVcHmlohJg_2QA_I1bHON3L0gje6t2GQCNcBGAsYHQ/w640-h466/TTMYGH.jpg" width="640" height="466" data-original-height="732" data-original-width="1005"></div>
<div class="separator"> </div>
</div>
<div>With interest rates mired at zero for the foreseeable future capital has been flowing into real estate, stocks, and cryptocurrencies. </div>
<div> </div>
<div><strong>Lucky country</strong></div>
<div> </div>
<div>Numerous medical journal studies are now showing how Vitamin D can play an important role in reducing Covid-19 infection.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-Ox9pY_ZatEc/X8QAlWZKLaI/AAAAAAAA5iI/LA-014I42p4wevQTXCa4xXcCX7j1XF3HgCNcBGAsYHQ/w640-h266/RP.jpg" width="640" height="266" data-original-height="302" data-original-width="728"></div>
<div> </div>
<div>This might go some of the way to explaining Australia's near elimination of the virus, with zero deaths or cases in ICUs or on ventilators for a long time now. </div>
<div> </div>
<div>Whatever the reasons, it's looking increasingly likely that Australia has dodged another sizeable bullet and will become a remarkably sought-after destination once its international borders are reopened.</div>
<div> </div>
<div>Data due to be released this week will show that the Aussie economy began to expand again with output growing by about 3-4 per cent in the third quarter of 2020, with another pumping current account surplus, and housing prices rising by +0.6 per cent in the month of November. </div>
</body></html>

pwargent-M4siyDbqQY

The UK; a case study on botched COVID-19 stimulus: Pete Wargent

<html><body>
<p>Like many of the smaller capital cities through COVID-19, Adelaide dwelling values avoided price declines, according to the latest data from CoreLogic.</p>

<p>The combined value of the Adelaide dwelling market is 4.1% higher from March through to November, and dwelling values are currently at a record high.</p>

<p>In the three months to November, dwelling value increases were strongest across the North of Adelaide, where typical dwelling values were $378,705.</p>

<p>The rate of change in Adelaide dwelling values has historically been among the least volatile of the capital cities. But with momentum building across the market, quarterly growth rates have reached the highest level in ten years.</p>

<p>"Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November," Eliza Owen, CoreLogic’s Head of Research Australia said.</p>

<p>"Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales."</p>

<p>"Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators."</p>

<p>"The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time."</p>

<p>"Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition," she concluded.</p>
</body></html>

The combined value of the Adelaide dwelling market is 4.1% higher from March through to November, and dwelling values are currently at a record high.

urban.com.au

Adelaide dwelling values ignored the COVID-19 decline reaching record highs

<html><body>
<p>The Westpac economist Matthew Hassan has noted the broad-based strengthening in the November property prices as recorded by CoreLogic.</p>
<p>"Notably the reopening in Melbourne has finally seen prices turn in the one major market still recording declines a month ago – the 0.7% mth gain surprisingly firm given turnover was still low."</p>
<p>Melbourne's 0.7% gain was across all segments and building types although prices have generally been firmer for lower priced parts of the market.</p>
<p>Despite an apparent large overhang of stock in the inner city, unit prices also posted a solid rise in the month – Hassan adding "perhaps a caution that some of the gain may be running off expectations rather than conditions on the ground."</p>
<p>Hassan noted other markets consolidated on previous gains with Adelaide and Perth, the smaller capital cities and regional areas leading the way.</p>
<p>Turnover nationally largely consolidated on its Q3 'pop', he added.</p>
<p>The detail continues to show stark differences, activity in Melbourne only just moving off the extreme lows seen during lockdown but activity across other capital city markets still holding well above pre-COVID levels (and well above new listings suggesting these markets are likely to be very tight in coming months).</p>
<p>Sydney recorded a 0.4% gain to be up 0.3% on a three month basis.</p>
<p>Units remain a notable weak spot, with prices in this segment down 0.7% in the November month and 1.8% on a 3month basis, declines accelerating slightly, particularly at the top end of the market. </p>
<p>He added Sydney houses at the lower end of the market have seen the most promising gains.</p>
<p>Prices rose 0.6% in Brisbane, 1.3% in Adelaide, and 1.1% in Perth.</p>
<p>The smaller capital city markets also recorded strong gains – Hobart up 1.4% and both Canberra and Darwin up 1.9%.</p>
<p>"All of these cities except Perth now have prices above their pre-COVID peaks."</p>
<p>Hassan concluded by noting "the housing market is now moving clear of COVID disruptions with recoveries at different stages across different jurisdictions but gaining momentum everywhere."</p>
<p>"While there will still be some weak areas, particularly in the Sydney and Melbourne unit markets, the resurgence in activity, the associated lift in market sentiment and more promising outlook for a vaccine remedy to emerge next year suggests broader momentum will remain well supported in 2021."</p>
<p>Wespatc have recently marked up our price forecasts with a 4% gain now expected in 2021 and a 10% rise in 2022, essentially bringing forward our forecast for a 15% surge that was previously expected to begin in mid-2021<span>.</span></p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Melbourne's surprisingly firm price growth given low November turnover: Westpac

<html><body>
<p class="legacy">GUEST OBSERVATION</p>
<p>Many Australian cities have fallen back on offering free car parking to attract visitors back to the CBD after the pandemic. In contrast, cities around the world are basing their recovery strategies on bold and evidence-based urban transformations.</p>
<p>In August, Adelaide City councillors voted for <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-08-12/adelaide-to-hold-drivers-month-to-boost-retail-amid-coronavirus/12549148">incentives for people to drive and park within the CBD</a>, including a controversial “driver’s month” promotion. In Perth, <a href="https://www.google.com.au/amp/s/amp.watoday.com.au/national/western-australia/zempilas-free-parking-plan-to-cost-perth-ratepayers-hundreds-of-thousands-20201103-p56b3q">free parking in the CBD</a> during the holidays is expected to cost A$700,000.</p>
<p>In Victoria, the state hit hardest by the pandemic, the City of Geelong has announced <a href="https://www.geelongaustralia.com.au/covid19/article/item/8d7d0f8fc065b64.aspx">a range of free CBD parking policies</a> estimated to cost several million dollars. Melbourne City Council has endorsed <a href="https://www.theage.com.au/politics/victoria/lost-opportunity-melbourne-considers-slashing-cost-of-parking-as-part-of-car-led-recovery-20201116-p56exx">free on-street parking</a> via a voucher system estimated to cost $1.6 million in lost revenue. It’s also seeking to reduce the state-based congestion levy on off-street parking by 25%.</p>
<p>The move to increase car traffic into the central city is perhaps most surprising in the case of Melbourne. Planners have called it a “<a href="https://www.theage.com.au/politics/victoria/a-1960s-solution-planners-slam-city-council-s-push-for-free-parking-20201123-p56h49">1960s solution</a>” and a “<a href="https://www.theage.com.au/politics/victoria/lost-opportunity-melbourne-considers-slashing-cost-of-parking-as-part-of-car-led-recovery-20201116-p56exx">lost opportunity</a>”. Free parking and other incentives for car travel <a href="https://www.propertyobserver.com.au/https://twitter.com/BrentToderian/status/1296926489045172224">are at odds</a> with the city’s recent <a href="https://participate.melbourne.vic.gov.au/transportstrategy">Transport Strategy 2030</a>, which seeks to prioritise walking, cycling and public transport.</p>
<p><strong>Parking incentives don’t work</strong></p>
<p>These car-led approaches to a hoped-for economic recovery were <a href="https://www.melbourne.vic.gov.au/about-council/committees-meetings/meeting-archive/MeetingAgendaItemAttachments/924/16397/NOV20%20CCL%20AGENDA%20ITEM%206.8.pdf">rushed out ahead of new evidence and modelling</a>. This approach also goes against <a href="https://theconversation.com/the-elephant-in-the-planning-scheme-how-cities-still-work-around-the-dominance-of-parking-space-87098">decades</a> of <a href="https://theconversation.com/empty-car-parks-everywhere-but-nowhere-to-park-how-cities-can-do-better-99031">available</a> <a href="https://theconversation.com/what-can-our-cities-do-about-sprawl-congestion-and-pollution-tip-scrap-car-parking-118393">evidence</a> on the detrimental impacts of conventional urban parking policies in Australia and internationally.</p>
<p>Free parking – pursued and mandated in many cities since the mid-20th century – has a nasty habit of building in unnecessary car use through narrowly targeted subsidies to car users, which directly undermine other transport modes. Parking researcher Liz Taylor <a href="https://www.foreground.com.au/planning-policy/street-fight-car-parks-covid-19-and-the-future-of-urban-retail-part-1/">recently</a> <a href="https://www.foreground.com.au/planning-policy/petrol-powered-planning/">explained</a> the historical myths and troubled relationships between retail and parking we risk perpetuating.</p>
<p><strong>COVID has changed cities, and we must adjust</strong></p>
<p>Cheap parking has <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-07-07/warrnambool-free-parking-plan-attracts-overstayers/12426236">poor prospects</a> for attracting enough visitors to offset the changes the pandemic has brought to Australian CBDs. CBDs rely heavily on daily office workers – who are now largely working from home – and on large residential populations, including international students and tourists to whom borders are now closed.</p>
<p>In Melbourne, daily journeys into the city are <a href="https://www.smh.com.au/national/victoria/far-from-normal-cbd-businesses-cling-to-customers-as-office-workers-stay-away-20201112-p56dw2">down 90%. Only 8% of office towers are occupied</a>.</p>
<p>Even so, car traffic is now at <a href="https://www-theage-com-au.eu1.proxy.openathens.net/politics/victoria/as-busy-as-bourke-street-push-for-cbd-recovery-gathers-pace-20201112-p56dwa">roughly 90%</a> of its pre-COVID levels. Cars are already back, but that does not translate to people in CBDs – and road capacity means the city <a href="https://www.openforum.com.au/melbournes-covid-car-crunch/">can’t manage many more cars</a>.</p>
<p><a href="https://images.theconversation.com/files/372440/original/file-20201202-15-1dvr3lp.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/372440/original/file-20201202-15-1dvr3lp.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Chart showing use of cars, public transport and walking in Melbourne from January to the end of November"></a><em> <br><span class="caption">Apple mobility data for Melbourne show car travel is back to almost pre-pandemic levels.</span> <span class="attribution"><a class="source" href="https://covid19.apple.com/mobility">Apple Mobility Trends</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/">CC BY</a></span></em></p>
<p>Similarly, Australian CBD retail landscapes have been <a href="https://theconversation.com/how-covid-all-but-killed-the-australian-cbd-147848">drastically altered</a>. Experts <a href="https://theconversation.com/the-suburbs-are-the-future-of-post-covid-retail-148802">predict many lasting changes</a>, including retail “localism” in the suburbs.</p>
<p>Parking hasn’t played any role in these changes. Instead, major economic shifts and political decisions have forced and enabled changes in work and lifestyle.</p>
<p>Many CBD workers simply <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-08-18/coronavirus-working-from-home-impact-on-australian-cities/12435248">won’t have to come back</a>. CBDs previously didn’t need to be pleasant to be full of people – many were forced to be there. That has changed, and so the city must change too – from a destination of default to a destination of choice.</p>
<p><strong>The adjustment can create better cities</strong></p>
<p>Encouraging cars back into the hearts of cities isn’t just a bad recovery strategy. It could be a huge missed opportunity to create more attractive, high-amenity cities.</p>
<p>Around the world, many cities are welcoming the chance to use parking and streets differently, <a href="https://theconversation.com/covid-has-proved-working-from-home-is-the-best-policy-to-beat-congestion-148926">farewelling the daily car commute</a> to embrace something better.</p>
<p>In Paris, Mayor Anne Hidalgo’s <a href="https://www.forbes.com/sites/carltonreid/2020/10/20/paris-mayor-anne-hidalgo-to-make-good-on-pledge-to-remove-half-of-citys-car-parking-spaces/?sh=49932fa916ec">visionary “15-minute city” plan</a> aims to replace 60,000 surface parking spaces with green pedestrianised streets, safe dedicated cycling networks and “children streets” near schools. The plan actively turns away from car dominance.</p>
<p>Barcelona’s mayor has announced <a href="https://www.bloomberg.com/news/articles/2020-11-11/barcelona-s-new-car-free-superblock-will-be-big">a massive green revamp</a> of the central city. Its already successful Superblock model, based on large-scale pedestrianisation, will be super-sized. Intersections and parking are being turned into parks and plazas.</p>
<p> </p>
<p>London is creating <a href="https://www.bloomberg.com/news/articles/2020-07-28/how-london-s-low-traffic-streets-keep-cars-at-bay">hundreds of low-traffic neighbourhoods (LTNs)</a>, as is <a href="https://citymonitor.ai/transport/in-one-of-europes-most-car-dependent-cities-lockdown-offers-a-chance-to-rethink-the-road">car-dependent Brussels</a>. LTNs are based on transforming streets with quality cycling and pedestrian infrastructure, closing some streets to car traffic and otherwise instituting low speeds. <a href="https://www.wired.co.uk/article/oslo-pedestrianisation">Oslo’s “Vision Zero” strategy</a> demonstrates the power of these measures to transform cities.</p>
<p>As these cities are finding, street reclamation projects can succeed quickly, and <a href="https://www.theguardian.com/environment/2020/nov/16/i-got-it-wrong-since-the-changes-its-become-more-vibrant-life-in-an-ltn">local businesses</a> and <a href="https://www.theguardian.com/environment/2020/nov/16/claim-low-traffic-schemes-only-benefit-better-off-debunked-in-new-study">neighbourhoods of all income levels</a> benefit. However, leaders need to <a href="https://www.theguardian.com/commentisfree/2020/nov/16/the-guardian-view-on-low-traffic-neighbourhoods-streets-ahead">“hold their nerve”</a> through the complex period of change.</p>
<p><strong>New ways of seeing cities</strong></p>
<p>Australian cities are changing with COVID too. Melbourne in particular has been forced to radically rethink streets as public space at a metropolitan scale. Through innovative co-operation between retailers and local councils, <a href="https://melbourneparklets.ushahidi.io/views/map">hundreds of parklets</a> have emerged across the city.</p>
<p>These spaces offer sensible, creative and exciting ways for people to re-embrace dining out after lockdown. The <a href="https://www.theage.com.au/national/victoria/gertrude-street-locals-don-t-want-council-to-call-time-on-garden-party-20201117-p56fb3">enthusiastic reception</a> is already causing many retailers to forget about parking and call for permanent changes.</p>
<p>The City of Melbourne has issued 1,300 outdoor dining permits and transformed 200 on-street parking spaces. This raises the the question of whether free parking is the best use of its precious public space and funds.</p>
<p><img src="https://images.theconversation.com/files/371045/original/file-20201124-17-km8fmg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Diners sit within a green parklet on Lygon Street in Melbourne, having fun on reclaimed street space."><br><em><span class="caption">A parklet on reclaimed street space on Lygon Street, Melbourne.</span> <span class="attribution"><span class="source">Liz Taylor (own photo)</span></span></em></p>
<p>While systematic study of parking is often scarce, <a href="https://www.sciencedirect.com/science/article/pii/S0264837718309797">far</a> <a href="https://www.gov.uk/government/publications/the-value-of-cycling-rapid-evidence-review-of-the-economic-benefits-of-cycling">stronger</a> <a href="https://vtpi.org/walkability.pdf">evidence</a> supports the economic value of space for active transport, green space and outdoor dining. Our future cities can be places where people “<a href="https://www.nytimes.com/2020/11/02/dining/outdoor-dining-nyc">will see the street belongs to them</a>”.</p>
<p>Street space can feel like the exclusive (and hostile) realm of cars, but it is simply public land that is currently (mis)allocated to cars. Perceptions are beginning to change, allowing city residents to reimagine what streets might offer beyond moving and storing cars.</p>
<p>The race is on to invite people back to our cities. But a return to streets full of cars, narrow sidewalks crowded with pedestrians, and parking problems that never go away simply isn’t much of an invitation.</p>
<p>When urbanist Brent Toderian asked people to post <a href="https://www.propertyobserver.com.au/https://twitter.com/BrentToderian/status/1168055558068301824">photos showing #TheBeautyofCities</a>, the hundreds of submissions featured green streets full of people walking, cycling and having fun, not car parking and traffic.<img src="https://counter.theconversation.com/content/150380/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/rebecca-clements-506288">Rebecca Clements</a>, Postdoctoral Research Associate, Faculty of Architecture, Building and Planning, <em><a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em>; <a href="https://theconversation.com/profiles/elizabeth-taylor-97922">Elizabeth Taylor</a>, Senior Lecturer in Urban Planning &amp; Design, <em><a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a></em>, and <a href="https://theconversation.com/profiles/thami-croeser-729067">Thami Croeser</a>, Research Officer, Centre for Urban Research, <em><a href="https://theconversation.com/institutions/rmit-university-1063">RMIT University</a></em></span></p>
<p>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/why-australian-cities-need-post-covid-vision-not-free-parking-150380">original article</a>.</p>
</body></html>

Why Australian cities need post-COVID vision, not free parking

<html><body>
<p>As millions of Australians experience a decrease in working hours or even loss of employment, the anxiety around not being able to afford rent is real for many renters in Australia. </p>

<p>On March 29th, <a href="https://www.pm.gov.au/media/national-cabinet-statement"><u><strong>Prime Minister Scott Morrison announced</strong></u></a> a 6-month moratorium on evictions across Australia. On Wednesday, April 7th, the Federal Government further announced a mandatory <a href="https://www.pm.gov.au/sites/default/files/files/national-cabinet-mandatory-code-ofconduct-sme-commercial-leasing-principles.pdf"><u><strong>Code of Conduct</strong></u></a> for small and medium-sized businesses. Unfortunately, residential tenancies are still excluded from any new regulations. However, there are still steps that tenants can take to protect themselves during this difficult time.</p>

<h2><strong>RESIDENTIAL TENANCIES ACT (1997)</strong></h2>

<p>Landlords and tenants are bound by the above legislation, <a href="https://s3.ap-southeast-2.amazonaws.com/hdp.au.prod.app.vic-engage.files/5815/5719/2224/Residential_Tenancies_Act_1997_May_2019.pdf"><u><strong>which states</strong></u></a> that the landlord may evict the tenant “if the tenant owes at least 14 days rent to the landlord” (p. 222). But following the Federal Government’s latest decision, this law should be the exception rather than the rule.</p>

<h2><strong>NEGOTIATION</strong></h2>

<p>At this point, open communication is the best way to solve the matter at hand. </p>

<ul>
<li>Alternative payment plans, e.g. paying by instalment, deferred payment</li>
	<li>Rent relief or abatement</li>
	<li>Alternative living arrangements on the property</li>
</ul>
<p>Landlords and tenants who are not in significant financial distress over current circumstances are to honour the existing lease agreement.</p>

<h2><strong>RULES LANDLORDS MUST COMPLY WITH</strong></h2>

<p>Your rights as a tenant also extend to keeping your landlord in check:</p>

<p>Landlords are legally obligated to ensure the peace and comfort of their tenants. Under COVID-19, this rule still stands. However, if your landlord intends to go ahead with an inspection, urge them to consider:</p>

<ul>
<li>Limiting the number of people present in the premise</li>
	<li>Equipping those present with the adequate protective items, e.g. face masks, hand sanitisers, handwash</li>
	<li>Maintaining a healthy social distance of 1.5 to 2 metres</li>
</ul>
<p>If there comes the point where an eviction occurs, remember that your landlord has to present a written notice to vacate the premises.</p>

<p>COVID-19 presents a tough time for everyone; and both landlords and tenants should cooperate in good faith and find common ground, and we should work together to make sure that nobody feels uncertain about the stability of their living situation.</p>

<p><em>Please note that this article does not constitute legal advice. If you are facing significant legal trouble as a tenant, engage a lawyer to assess your personal situation.</em></p>
</body></html>

COVID-19: What are your rights as a tenant?

<html><body>
<p>Airbnb, the popular short-stay rental platform, has launched a new program which will aim to assist 100,000 health care professionals, relief workers and first responders in accessing accommodation while in self-isolation. This opportunity will give workers who could potentially be exposed to the virus, a space away from household members which will be especially beneficial to those who are at greater risk of catching the virus, such as elderly or immune-compromised relatives. </p>

<blockquote>
<p><em><strong>“Medical workers and first responders are providing lifesaving support during the coronavirus outbreak and we want to help.” </strong></em></p>
</blockquote>

<p><em>Joe Gebbia, Co-founder of Airbnb</em></p>

<p>Since learning of the lack of clean and accessible accommodation for thousands of healthcare workers globally, Airbnb is working to locate available accommodation which is reasonably close to hospitals and medical centres.</p>

<p>Airbnb is also collaborating with businesses, non-profit partners and government agencies such as the International Rescue Committee, International Federation of Red Cross and Red Crescent Societies, International Medical Corps. </p>

<h2><strong>THE GLOBAL ROLL OUT OF THE INITIATIVE</strong></h2>

<p>The initiative has already commenced in France and Italy, with 4,000 hosts in France volunteering to open their homes to medical workers. </p>

<p>With the program now launching in Australia, Canada, France, Germany, Ireland, Italy, Malaysia, New Zealand, Spain, Thailand, United Kingdom and the United States, Airbnb hopes to develop more partnerships in the coming weeks. </p>

<h2><strong>HOW HOMEOWNERS CAN HELP</strong></h2>

<p>Homeowners have also been encouraged by Airbnb to list their homes to house doctors, nurses, caregivers and other medical support staff during this time of need. Airbnb will be waiving any hosting fees to make it easier for homeowners to provide accommodation for those in need.</p>

<h2><strong>HOW WILL HEALTH AND SAFETY BE UPHELD?</strong></h2>

<p>For those who wish to accommodate COVID-19 responders with a safe place to live during the crisis, Airbnb has created a strict set of guidelines to ensure health and safety are maintained.</p>

<p>Hosts must vacate the property before the arrival of COVID-19 healthcare professionals.</p>

<p>Hosts are expected to practice social distancing by minimising their contact with guests during check-ins, and throughout their stay. It is also advised that they avoid visiting the premises while the guest is in residence and wait at least 72 hours between reservations to clean, disinfect and prepare the space for another guest. </p>

<p>The recommendations published in Airbnb’s guidelines for <a href="https://www.airbnb.com.au/resources/hosting-homes/a/cleaning-guidelines-for-preventing-the-spread-of-covid-19-163"><u><strong>cleaning and safety protocols</strong></u></a> are all based on guidance from the Centers for Disease Control and Prevention (CDC). The information includes the type of cleaning supplies to use, such as diluted bleach solutions, cleaning products with 70% alcohol and disinfectants <a href="https://www.epa.gov/pesticide-registration/list-n-disinfectants-use-against-sars-cov-2"><u><strong>registered by the Environmental Protection Agency</strong></u></a> that are believed to be effective against the coronavirus. </p>

<p>Health care professionals, relief workers and first responders who book accommodation through an NGO (non-profit organisation), government agency or health care system, will also be informed and familiar with the safety protocols they must follow. </p>

<h2><strong>REQUIREMENTS OF AN AIRBNB HOST DURING THE COVID-19 PANDEMIC</strong></h2>

<p>By signing up for the program, hosts agree to allow guests to finish their reservation or stay for the length of time they need to self-isolate (which may mean the guest needs to extend their stay).</p>

<p>For people who have volunteered to provide free accommodation for health care workers, there is an option to accept or decline reservations, as well as the option withdraw from the program.</p>

<p>Airbnb has advised that people who choose to host a COVID-19 responder should inform their neighbours, to give them a chance to share their concerns or any considerations they may have. The company will also be working closely with local authorities and organisations, as rules surrounding emergency accommodation could vary depending on the country and state. </p>

<h2><strong>AIRBNB IS AN EXAMPLE OF A COMMERCIAL BUSINESS PIVOTING THEIR STRATEGY TO SUPPORT THOSE IN NEED</strong></h2>

<p>First responders on the frontline of the pandemic are putting their lives at risk every day to ensure the health and safety of the citizens of their nations. It is great to see Airbnb and other accommodation services supporting those in need with initiatives that provide healthcare workers with safe and clean accommodation to help reduce stress during this uncertain period.</p>
</body></html>

Airbnb plans to help house 100,000 COVID-19 responders

<html><body>
<h2><strong>OPINION:</strong></h2>

<p>Never in our lifetime have we experienced such a global shock that has also provided a unique opportunity to take stock of our lives. Many of us are pausing to consider what areas we’re happy with, what we need to change, and new habits we would like to form to enable a more fulfilling life.</p>

<p>We also face challenges that have put a spotlight on our finances and show us just how financially resilient we may or may not be. This can be a confronting situation to find ourselves in but, like anything, we get to choose how we respond to the challenge.</p>

<p>I believe that there has never been a more critical time to take a closer look at our finances and set ourselves up for a less stressful and more prepared approach to our financial future.</p>

<p>In my work as Assemble’s Financial Coach, I help residents improve their financial wellbeing and guide them towards achieving their ultimate goal of homeownership via the Assemble Model.</p>

<p><b>My first piece of advice is to take stock of where your money is going.</b></p>

<p>During this period of uncertainty, it is best to focus on the essentials – food, transport, utilities, and housing. Consider reviewing any items outside of these essentials to check whether you can remove them altogether or look at reducing these costs to ensure you are on the best or cheapest deal available. If you work towards stripping these expenses right back, you may have the chance to decide if you still wish to continue paying for these non-essential items once you return to your lifestyle after COVID-19 passes. You may even consider new ways to use that extra money if you find that you could quite comfortably live without them.</p>

<p>While you may have had to reduce spending on the things that took a reasonable amount from your weekly budget – such as dining out, gyms or beauty treatments – it's important to take a look at where you can reallocate these outgoing costs.</p>

<p>If you’ve lost your job or had your hours reduced, this is the time to find more funds to better support you throughout this time. This could include using your emergency fund and any resources offered by the government, such as JobSeeker, or contacting service providers to pause payments or put bills on hold. It’s okay to accept the financial support available as there is no shame in asking for help.  If you feel overwhelmed, remember that this time will pass, so lean on friends and family for emotional support if you need it.</p>

<p>If your employer has not been affected, then this puts you in the fortunate position of being able to redirect these non-essential costs to boosting your savings. This could include a home deposit, increasing your emergency fund to future-proof yourself in the event your circumstances change, or to pay down debts that would have otherwise taken more time and money in interest costs to get rid of.</p>

<p>For example, if you’re no longer spending $160 on a gym membership each month, then this can be reallocated by increasing your monthly debt repayments by an additional $160 or setting up an automatic transfer for that amount across to your savings or emergency fund instead. You can apply this concept to many expenses, such as dining out, social events, exercise classes, public transport and pay TV or sports channels that you’re not using. All of these subscriptions and fees can add up, and you can get these amounts working for you in other ways.</p>

<p>You need to give your money ‘a job to do’ because if you leave it sitting in your account, it won’t be long before it’s given another ‘job’. These can come up as ‘bored in iso online shopping’ or ‘the extra chocolate stash’ – which isn’t beneficial to your financial position.</p>

<p>Although COVID-19 has been devastating for people, significantly impacting our health system and economy, it has brought an opportunity to re-evaluate how we spend our time, which influences how we will earn and spend money in the future.</p>

<p>This can mean that in the months ahead when we’re readjusting our lives and setting new goals, we can do it with confidence in our financial position and a new understanding of how we want to spend our time based on what we truly value.</p>
</body></html>

Resetting your finances during COVID-19 – a financial coach’s guide 

<html><body>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australia is officially out of a recession.</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span> </span></div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Australian Bureau of Statistics (ABS) advised that the nation's Gross Domestic Product – or GDP – rose 3.3 per cent in the September quarter.</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span> </span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>CommSec's Craig James called it a "Christmas miracle."</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<p>It was the strongest quarterly growth since the March quarter 1976. </p>
</div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However t<span>hroughout 2020 Australia's GDP has fallen 3.8 per cent.</span></span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span><span> </span></span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A technical recession is defined as two consecutive quarters in negative growth.</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span> </span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The three months to June saw the nation's GDP shrink by seven per cent, the biggest drop since records began in 1959.</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span> </span></div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The previous quarter to March saw Australia's GDP fall by 0.3 per cent.</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span> </span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span><span>The market had been predicting that the economy would grow 2.5 per cent in the September quarter. Westpac had forecast three per cent growth.</span></span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"> </div>
<div class="styles__Container-sc-1ylecsg-0 goULFa">"The key dynamic of the covid recession and the re-opening of the economy relates to the restrictions on the movement of people and on travel, with the closure of the borders," Westpac economist Andrew Hanlan said.</div>
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<p>"Consumer spending plunged by 12.5% in Q2 reflecting the reduced opportunities for people to spend.</p>
<p>"As restrictions were eased, consumers returned to the shops in greater numbers and consumer spending rebounded by 7.9% in Q3 (providing the upside surprise to our forecast).</p>
<p>"Another key feature of this recession has been the massive income transfer from the government to households and businesses – on an unprecedented scale."</p>
<p> </p>
<p> </p>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Australia is officially out of recession after 3.3 per cent rise in GDP in the September quarter

<html><body>
<p>Despite rental affordability across Sydney improving in the past year the NSW capital remains critically unaffordable to significant proportions of the renting population, especially very low and low-income households, the latest release of the Rental Affordability Index (RAI) has found.</p>
<p>Greater Sydney’s affordability is the highest recorded over the past eight years, improving by 5.7 per cent in the past 12 months – which has almost entirely been driven by the decline in rents caused by the onset of the COVID-19 pandemic. It is the only city which has shifted from moderately unaffordable to acceptable rents, despite affordability improving across most metropolitan regions.</p>
<p>Despite the lower rental rates, the difference for very low-income households is negligible, as they still face severely unaffordable rents across Sydney.</p>
<p>The RAI is an indicator of the price of rents relative to household incomes based on new rental agreements. It is released annually by National Shelter, Bendigo and Adelaide Bank, SGS Economics &amp; Planning and the Brotherhood of St Laurence. The report provides an indication on the impact of early COVID-19 responses and supplement payments, measuring rental affordability for households until the June quarter 2020.</p>
<p>A score of 100 on the RAI indicates that households are spending 30 per cent of their income on rent, which would cause low-income households to be in rental stress. They may have to forgo necessities including food, power and medical care to make ends meet. A score of 100-120 shows that households are facing moderately unaffordable rents.</p>
<p>With a score 126 in the June quarter of 2020, rents have shifted from moderately unaffordable to acceptable, on average, in Sydney. The average rental household in Greater Sydney spends about 24 per cent of its total income on rent – which is the same in regional NSW, which has an RAI score of 124.</p>
<p>However, lower-income households have to fork out a much higher proportion of their income to afford a roof over their heads in Greater Sydney:</p>
<ul>
<li>Single person on JobSeeker: 69 per cent of income (extremely unaffordable)</li>
<li>Single pensioner: 79 per cent of income (extremely unaffordable)</li>
<li>Pensioner couple: 53 per cent of income (severely unaffordable)</li>
<li>Single part-time worker parent on benefits: 47 per cent of income (severely unaffordable)</li>
<li>Full-time hospitality worker: 35 per cent of income (unaffordable)</li>
</ul>
<p>Regional NSW is the second least affordable rest of state areas with an RAI score of 124, behind regional Tasmania (114). The average household seeking to rent in regional NSW would face rent levels at 24 per cent of its total income, which means rents remain acceptable to affordable across regional NSW. As households move from the city to regional centres, this may impact affordability.</p>
<p>In Victoria, there is a massive need for government investment in social and affordable housing – and now is the time for it since borrowing costs are so low in Australia. Without investment in this space, we are ignoring our responsibility to help people be decently housed.</p>
</body></html>

Low income households face unaffordable rents: RAI

<html><body>
<p>EXPERT OBSERVER</p>
<p>The Business Indicators publication is largely important each quarter for the data on inventories that helps finalise the estimate for economic growth.</p>
<p>The gross domestic product (GDP) or economic growth figures are released on Wednesday. But there are still two important ‘partial’ components before then in the shape of government spending and net exports – the figures released on Tuesday.</p>
<p>At this stage GDP is expected to have rebounded by at least 2½ per cent. That means that the economy exited from its first ‘technical’ recession in 29 years during the September quarter.</p>
<p>Courtesy of government assistance, corporate profits rose another 3.2 per cent in the September quarter after the 15.8 per cent gain the June quarter. Profits are rising at the fastest annual rate in three years. The aim of policymakers has been to keep business in business and keep workers in jobs. And all evidence suggests that the measures are working well.</p>
<p><strong>What do the figures show?</strong></p>
<p><em>Business Indicators – September quarter</em></p>
<p>Company operating profits rose by 3.2 per cent in the September quarter to be up 18.6 per cent on the year. Profits rose in 12 of the 15 industry groups in the September quarter.</p>
<p>Inventories fell by 0.5 per cent in the September quarter after a 2.9 per cent fall in the June quarter. Inventories will add 0.9 percentage points to quarterly economic activity. Four of the six industry sectors posted declines in inventories led by Electricity, gas, water and waste services (down 3.7 per cent).</p>
<p>The total real value of sales rose by 4.4 per cent in the September quarter but was down 5.4 per cent on the year. Real sales rose in all of the 15 industry sectors except Mining (-1.5 per cent) in the September quarter. In current prices, sales rose by 4.0 per cent in the quarter but fell 6.8 per cent on the year.</p>
<p>Over the full year to September, real sales fell by 3.6 per cent on a year earlier (decade average +1.5 per cent). And in current prices, sales fell by 3.2 per cent in the full year to September (decade average +3.3 per cent).</p>
<p>In current prices, sales rose in seven of the states and territories in the September quarter: NSW (up 5.8 per cent), Victoria (up 2.2 per cent), Queensland (up 2.8 per cent), South Australia (up by 9.8 per cent), Western Australia (up by 1.5 per cent), Tasmania (up 13.2 per cent), Northern Territory (down 0.7 per cent) and ACT (up by 4.0 per cent).</p>
<p>Wages &amp; salaries (includes changes in wages and employment) rose 2.4 per cent in the quarter to be up 0.4 per cent on the year – reflecting slower growth in wages but higher employment.</p>
<p><img src="https://attachments.office.net/owa/jfidler%40propertyobserver.com.au/service.svc/s/GetAttachmentThumbnail?id=AAMkADQ3ZGM4MTFjLTUzM2MtNGRlMy1hNTRkLTVlMTg5NTg1MTZjNABGAAAAAACwVkXUIRtYR67gBrMt3wq%2FBwDeQoafX1oGQ7i8PLrB5m%2FDAAAAAAEMAADeQoafX1oGQ7i8PLrB5m%2FDAAJKzD5JAAABEgAQACK8R8yukhJBqpGRzo6mVI4%3D&amp;thumbnailType=2&amp;token=eyJhbGciOiJSUzI1NiIsImtpZCI6IjU2MzU4ODUyMzRCOTI1MkRERTAwNTc2NkQ5RDlGMjc2NTY1RjYzRTIiLCJ0eXAiOiJKV1QiLCJ4NXQiOiJWaldJVWpTNUpTM2VBRmRtMmRueWRsWmZZLUkifQ.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.PH1fFwCfxZjuKoCpgQN1tXA6f07WVbH29jElNeiSFUlSFZ3yeOwE2vVYs2A88-9jGxxWgmcGmIKLWiJGzTBz-K55yVbspXl6ZzZKrz_-hG22aBp0ZIpwJ7tyGmyOUrX_40_4SOMndfygi7zdLAfNAvrcd2JUTRpGfQSQkpacGVryDew3cpEWLs3zLT3mC-L3riY2ZwbNl-ePR30-nU0zHUflO9UBxFGNi7X20Bx7ed-jmb2X-9icUAV-HHGozA4YBFqXo2zodcNtagRWkuUpP7Wm2ep6zjXkiY1VtKYlH9ZFORPWklZfDGzF3QZPX67r8Nai8TlLrlRt3ZWDTvRnug&amp;X-OWA-CANARY=cYNCnnKQIkSMgBoXnImPAMB8Nr_dlNgYalBOlv2hG_ZgUuA-eID-bAWSd2QX6b1jnzn3kAOGXU0.&amp;owa=outlook.office.com&amp;scriptVer=20201123001.11&amp;animation=true"></p>
<p><em>What are the implications for investors?</em></p>
<p>It’s all about COVID. It’s an extraordinary period but we are coming out the other side into a different world.</p>
<p>The good news is that the virus is suppressed across Australia. Yep more good news with stimulus measures to remain in place until we are fully back on our feet. And even more good news with the progress of vaccine development and potential for roll out in coming months.</p>
<p>Our major trading partner, China, continues to show encouraging signs of economic recovery with both manufacturing and service sector purchasing manager indexes well above the 50 line in November – the line that suggests expansion of activity.</p>
<p><strong>CRAIG JAMES </strong><em>is the Chief Economist at CommSec</em></p>
</body></html>

COVID-19

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

COVID-19

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News