Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

COVID-19

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Victorian property values are continuing to defy gloomy price predictions and are holding firm, the Real Estate Institute of Victoria president Leah Calnan says.
The REIV's September quarter statistics suggest only metropolitan houses and regional units contracted over the quarter.
"Despite six months of COVID-19, lockdowns and moratoriums, the Victorian Property Market continues to prosper with properties remaining more valuable than they were in 2019” Ms Calnan said.
“Our members have faced so many challenges in 2020, their work and efforts are evidenced in the September Quarter results.”
“REIV market statistics are based on results directly sourced from agents and government records and provide a true picture of Victorian real estate”
<img src="https://www.urban.com.au/images/2020/12/melb%20v%20region.png" alt="">
Apartments in Melbourne rose 0.2 per cent over the September quarter, to a $622,500 median, up 5.4 per cent over the last 12 months.
Melbourne house values declined -1.7 per cent, down to a median $846,000, but are still 7.4 per cent up over the last 12 months.
It's been Melbourne's middle ring which have suffered the greatest losses, down -2.8 per cent on the quarter to take its median below then $1 million mark.
House values in inner Melbourne and outer Melbourne rose over the September quarter, but units went backwards in outer Melbourne (-0.3 per cent), compared to a big jump in inner Melbourne (+1.8 per cent).
<img src="https://www.urban.com.au/images/2020/12/inner%20melb.png" alt="">
Houses in regional Victoria were the best performing market, recording 5.1 per cent growth for the quarter, taking houses to a $442,500 median. 
Regional units fell -3.1 per cent over the quarter, to a $327,000 median, but are eight per cent up over the last 12 months.
Transactions in Melbourne plummeted by 31 per cent compared to the June quarter due to the tighter restrictions in place, however sales in regional Victoria soared by 15 per cent.
 
 
 
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jrobinson-rf4aSBido9

Victorian property values defy gloomy price predictions: REIV

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GUEST OBSERVATION
 
After two decades equating budget surpluses with good economic management, it might seem convenient that the federal government has <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/speeches/speech-australian-chamber-commerce-and-industry-canberra">changed its fiscal strategy</a> just before the budget to focus on jobs over keeping the deficit in check.
But it’s the right move. The world has changed in ways that make government spending more necessary and government debt more sustainable than ever.
Debt talk still dominates <a href="https://www.afr.com/policy/economy/budget-must-chart-course-to-eliminate-debt-and-deficit-20200929-p5605q">newspaper headlines</a> and many of Treasurer Josh Frydenberg’s <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/transcripts/interview-karl-stefanovic-today-show-1">media appearances</a>. But it shouldn’t. Here’s why.
We are in the middle of a major economic shock
The COVID-19 recession is the biggest economic shock since the Great Depression. GDP <a href="https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/latest-release">fell 6.3%</a> in the year to June, the worst annual result since 1929.
The federal government should use its balance sheet to spread the costs of such a large shock over time. The alternative would be to leave those who lost their jobs or businesses in poverty.
The government’s emergency response saved businesses and jobs from going under in the short term. Now, as we emerge from the crisis into the recovery phase, large-scale stimulus is needed to boost demand and create new jobs.
Debt has never been cheaper
It has never been cheaper for governments to borrow. As the next chart shows, the interest rate on 10-year Australian Government Bonds is less than 1%. If inflation stays above 1%, as the Reserve Bank and Treasury expect, the “real” interest rate the federal government pays on the bond will be negative. That is, it will effectively be paid to borrow.
<hr>
<img src="https://images.theconversation.com/files/361517/original/file-20201005-20-1oqmgxs.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Yields on 10 Year Australian Government Bonds."> Author provided
<hr>
These very low interest costs change the dynamics of managing debt we accrue now. Investments that boost future growth – including spending to reduce unemployment and close the output gap – will pay for themselves.
This is the fiscal “free lunch” spoken about by the former chief economist of the International Monetary Fund, <a href="https://www.aeaweb.org/articles?id=10.1257/aer.109.4.1197">Olivier Blanchard</a>, and the deputy governor of the Reserve Bank of Australia, <a href="https://www.rba.gov.au/speeches/2020/sp-dg-2020-09-22">Guy Debelle</a>.
Extra stimulus won’t spook financial markets
To get the unemployment rate below 5% by the end of 2022, the <a href="https://theconversation.com/now-well-need-100-120-billion-why-the-budget-has-to-spend-big-to-avoid-scarring-145489">Grattan Institute</a> estimates a further A$100 billion to A$120 billion of fiscal stimulus is needed on top of what governments have already announced.
This is unlikely to cause financial markets to break a sweat. Even if gross debt was to nudge 50% of GDP in the next few years, it would still be far below that of most other developed nations before the COVID crisis. At the end of 2018-19, the gross public debt in the UK was 85% of GDP, in the US 103%, and in Japan more than 200%. All have borrowed substantially more since then at very low rates.
There’s also no risk that significant government spending will cause wages or inflation to rise dramatically. In fact, Australia has the opposite problem. Wages were stagnant before the crisis and are forecast to remain so for years. Inflation has been persistently below the Reserve Bank’s inflation target and is forecast to remain so for years.
We can manage debt without austerity
Frydenberg has signalled that, as employment recovers, the government’s fiscal strategy will shift to stabilising and then reducing debt as a share of GDP. Although his stated threshold of “well under 6% unemployment” is <a href="https://theconversation.com/frydenberg-is-setting-his-budget-ambition-dangerously-low-146855">not ambitious enough</a>, the idea makes sense.
The good news is that with interest rates on government borrowing so low, debt as a share of GDP can be reduced without pursuing austerity in the form of deficit reduction.
The interest rate is one of three factors that affect the size of debt relative to GDP. The other two are the budget balance (the incremental contribution to debt) and nominal GDP growth, which depends on economic activity and inflation.
Even if interest rates were a little higher than now (say, 1.5%), the government can reduce debt relative to GDP even while continuing to run large deficits, provided that nominal GDP growth returns to a moderate level (say, 4.5%, as it was before the pandemic).
The next chart shows that under these circumstances the government can run deficits of up to $50 billion and still reduce debt as a share of GDP.
<hr>
<a href="https://images.theconversation.com/files/361518/original/file-20201005-24-r8s4ta.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/361518/original/file-20201005-24-r8s4ta.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Gross debt-to-GDP projections based on different budget deficit scenarios."></a> Author provided
<hr>
Different rates of GDP growth would change this story, as the next chart shows. With an even higher nominal growth rate, debt would shrink even faster relative to GDP. In a scenario of prolonged low growth, debt would increase relative to GDP a little, but remain very modest.
<hr>
<img src="https://images.theconversation.com/files/361519/original/file-20201005-14-1f2z9na.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Gross debt-to-GDP projections based on different GDP growth scenarios"> Author provided
<hr>
The government can do things to boost nominal growth in areas such as tax reform, education and skills, workforce participation, energy and climate policy, and land-use planning. The Reserve Bank should also do more by boosting inflation, which would support nominal growth.
Don’t scrimp on stimulus
There are many <a href="https://insidestory.org.au/the-biggest-bang-for-the-stimulus-buck/">urgent and valuable priorities</a> for government spending right now, such as permanently raising JobSeeker, boosting child-care support and building more social housing.
More debt might impose a small cost over a very long time. But the cost of insufficient stimulus and a prolonged recession would be vastly bigger.
The choice is simple. We should not let debt panic distract us from making it.<img src="https://counter.theconversation.com/content/147369/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/danielle-wood-147710">Danielle Wood</a>, Chief executive officer, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a> and <a href="https://theconversation.com/profiles/tom-crowley-1041697">Tom Crowley</a>, Associate, <a href="https://theconversation.com/institutions/grattan-institute-1168">Grattan Institute</a>
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/dont-worry-about-the-debt-we-need-more-stimulus-to-avoid-a-prolonged-recession-147369">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

We need more stimulus to avoid a prolonged recession

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Boarding houses have proven to be one of the most resilient investments during COVID-19 with strong buyer demand leading to around $10 million in sales over the past three months.
Two development sites with approval for boarding houses have recently been sold in deals negotiated by Knight Frank, with a third sale of a boutique site sold for build to rent purposes.
A 975.5sq m property at 10 Naree Road in Frenchs Forest with approval for the demolition of an existing residential property and construction of a boutique 28 self-contained studio apartment ‘new generation’ boarding house was sold prior to auction for above $3 million.
The property was sold by Anthony Pirrottina, Demi Carigliano and Arland Domingo of Knight Frank after strong competition from local developers.
Another property at 88 Liverpool Road in Summer Hill, a 319.4sq m site with approval for a mixed-use development comprising one commercial tenancy and eight residential apartments totalling 465sq m, sold for $1.975 million after 111 bids at auction. The deal was negotiated by Anthony Pirrottina and Demi Carigliano of Knight Frank to a purchaser seeking to develop and retain the property as a mini ‘build to rent’ scheme.
A third DA approved boarding house development was transacted in the mid $3 million range offmarket in Ashfield to a local developer seeking to bolster their exposure to the boarding house and Inner West Sydney rental market.
Mr Pirrottina said that while the property market has been challenging in certain sectors since Coronavirus restrictions began in March, boarding houses continue to remain a strong investment class, with strong buyer interest particularly from a development perspective."
Mr Carigliano said as an investment class, boarding houses were a niche sector but buyer appetite had grown over the past three years in New South Wales, when planning laws were amended to allow for greater development of these assets.
“These assets provide buyers – who are often developers – with passive income and yields in the vicinity of 5% to 6.5% compared to a 3% to 4% yields for blocks of residential units,"  “The best performing assets are located in suburban Sydney markets, close to infrastructure including hospitals, public transport and universities. “Boarding houses can also be sold in one line as they are not strata-titled like units, which means investors can trade out of the asset faster if desired.”
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Boarding houses prove to be COVID-safe investment

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EXPERT OBSERVER
It is crucial that the Federal Government continues to provide support to businesses and households in a year of unprecedented economic challenge.
However, whilst the decision to apply US-style Chapter 11 bankruptcy laws that will allow small businesses to trade their way out of insolvency is well-intentioned, it will do little to generate jobs and growth down the track.
In August, RBA Governor Phillip Lowe warned that a considerable number of insolvencies would emerge, with many businesses unlikely to recover from the ‘forced economic hibernation’ imposed in March.
That remains the case, regardless of any legislation that allows companies to continue trading while insolvent.
New CreditorWatch data has shown that new company registrations across Australia have increased by 10% in the July-August 2020 period. However, these companies will fail if they take on customers that are never going to survive without government support
.The focus should therefore be on those small businesses who have a viable capability of emerging from the COVID environment with their balance sheets intact and an ability to successfully trade without government support.
There’s a lot of uncertainty out there for creditors as they don’t quite understand how this will affect then.
Ultimately, if it helps businesses survive or at least flattens the inevitable insolvency curve, it’s a good thing. The government should be commended for working on such big policy changes in short pressure-filled time.
HARLEY DALE is the Chief Economist at CreditorWatch
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Continued government support is crucial to save businesses: Harley Dale

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A petition has been launched by citizens in Victoria to resume the real estate industry under Stage 4 lockdown.
"The requirement to find a home is unquestionably essential", the petition advisees.
"Agents and consumers would like to see the resumption of one-on-one private appointments which would be conducted safely according to COVID safe guidelines.
<div class="row-fluid fabrikElementContainer">
<div class=" plg-textarea fb_el_pov_ep_council_petition___grievance_ro span12">
<div class="fabrikElement">
<div id="pov_ep_council_petition___grievance_ro" class="fabrikElementReadOnly">"We are asking the Andrews Government, along with the Real Estate Institute of Victoria, to re-open the real estate industry with the implementation of a COVID-19 Safe Plan.</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">"These practices may include a record of attendees at one-on-one appointments, open house permits, limited attendance of open house, temperature checks upon arrival, no-touch inspection, social distancing and sanitising of door handles and surfaces. Contact tracing data would be lodged with the Department of Health and Human Services."</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">The petition says that waiting until October 26 to reopen the industry will "cripple people financially", adding that waiting until November 23 for 'COVID normal' will leave people under "significant financial pressure".</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">"Those who have purchased and need to sell and those who’ve been evicted due to landlords returning to occupy and cannot inspect a new rental home have been burdened by the COVID-19 restrictions.</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">"Over the last 6 months, sacrifices have been made by everyone over a truly testing period. We must look forward and discuss our ability to offer a safe and considered service for those who require it. 
</div>
<div class="fabrikElementReadOnly"> </div>
<div class="fabrikElementReadOnly">The petition, which can <a href="https://www.propertyobserver.com.au/https://www.parliament.vic.gov.au/council/petitions/electronic-petitions/view-e-petitions/details/12/243" target="_blank">be found here</a>, will close October 10.</div>
</div>
</div>
</div>
<div class="row-fluid fabrikElementContainer"> </div>
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Petition launched to open real estate up in Victoria

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<div>Mixed news for Melbourne - the economy remains in lockdown, and, while other cities and states are seeing JobSeeker numbers declining, Victoria saw its numbers leap by 4 per cent in a month to 413,000.</div>
<div> </div>
<div>On the positive side of the ledger, new COVID-19 cases in Victoria now appear to be in a beautiful freefall, with only 14 newly confirmed cases on Sunday, and the first murmurings about restrictions being eased sometime. </div>
<div> </div>
<div>Although that said, Andrews - who appears increasingly keen to be extend the state's powers to extreme levels - stated that nothing is up for debate, which suggests that Step 4 won't even be contemplated until November 23. </div>
<div class="separator"> </div>
 
<div class="separator"><a href="https://1.bp.blogspot.com/-M_qShR8SM04/X2dRYKowI9I/AAAAAAAA4VY/5yZ4HT7ovi0ntrw6wnV2Rw-Evurlxp-fwCNcBGAsYHQ/s1452/CV1.jpg"><img src="https://1.bp.blogspot.com/-M_qShR8SM04/X2dRYKowI9I/AAAAAAAA4VY/5yZ4HT7ovi0ntrw6wnV2Rw-Evurlxp-fwCNcBGAsYHQ/w640-h376/CV1.jpg" width="640" height="376" data-original-height="853" data-original-width="1452"></a></div>
<div> </div>
<div>There are now only 8 cases remaining in Victoria's ICUs. </div>
 
<div class="separator"><a href="https://1.bp.blogspot.com/-KfGuc8BJ1Rg/X2dRX4ZatBI/AAAAAAAA4Vc/7iyMlX2Z-WAOrj5wWSqjUTRnbxdZ6yXyACNcBGAsYHQ/s1408/CV2.jpg"><img src="https://1.bp.blogspot.com/-KfGuc8BJ1Rg/X2dRX4ZatBI/AAAAAAAA4Vc/7iyMlX2Z-WAOrj5wWSqjUTRnbxdZ6yXyACNcBGAsYHQ/w640-h378/CV2.jpg" width="640" height="378" data-original-height="830" data-original-width="1408"></a></div>
<div> </div>
<div>The target for Victoria of 'zero cases for 14 days' must still feel like light years away to locked up residents, with 791 active cases remaining across the state. </div>
<div> </div>
<div>Auctions pick up</div>
<div> </div>
<div>While Melbourne's residents have been shut indoors for weeks on end, the rest of the country has been enjoying the prospect of much cheaper mortgage rates.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-7hrIFRSiSyk/X2dRYt-CzCI/AAAAAAAA4Vg/QB6a78QxzqkvSUZdO6Cz7i_zctpYRtG8wCNcBGAsYHQ/s828/Interest.jpg"><img src="https://1.bp.blogspot.com/-7hrIFRSiSyk/X2dRYt-CzCI/AAAAAAAA4Vg/QB6a78QxzqkvSUZdO6Cz7i_zctpYRtG8wCNcBGAsYHQ/w640-h486/Interest.jpg" width="640" height="486" data-original-height="628" data-original-width="828"></a></div>
<div> </div>
<div>The preliminary auction results this week continued their uptrend of recent weeks and were seen to be the strongest since March, according to CoreLogic, with clearance rates back at the levels we were seeing before the virus became a critical issue. </div>
 
<div class="separator"><a href="https://1.bp.blogspot.com/-wMJ3wPFcC4w/X2dRTcb7xBI/AAAAAAAA4VI/gwwGIuwb7hsUdCvb3ZGLkwnGL60fXQ98gCNcBGAsYHQ/s886/CL.jpg"><img src="https://1.bp.blogspot.com/-wMJ3wPFcC4w/X2dRTcb7xBI/AAAAAAAA4VI/gwwGIuwb7hsUdCvb3ZGLkwnGL60fXQ98gCNcBGAsYHQ/w640-h526/CL.jpg" width="640" height="526" data-original-height="729" data-original-width="886"></a></div>
 
<div class="separator">Source: CoreLogic</div>
<div class="separator"> </div>
<div>In particular, strong results for clearance rates were recorded for Canberra and Sydney, while Domain reported a median sales price for Brisbane in excess of $1 million for the weekend's smattering of auction sales. </div>
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pwargent-M4siyDbqQY

Auction results back at pre-COVID levels, excluding Melbourne

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Struggling airline Qantas are set to sub-lease half of its Mascot HQ in an attempt to continue to cut costs.
They're trying to get $9 million for the two standalone Bourke Road spaces, offered at $450 per sqm for the 20,000 sqm of space.
Qantas will be retaining the head lease for another 12 years, from the building owners Cromwell Property Group.
The two buildings, part of four which house Qantas staff, have just undergone a full fitout.
One building has 14,690 sqm of office space across six levels, which if leased separately at $450 per sqm would equate to $6.61 million.
There is the option to lease each floor separately.
<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/2020/9/15/Qantas%201%20copy.jpg" alt="">
There's just over 5,000 sqm of space in the other two level building next door, will be leased in one line. That would be $2.26 million per annum.
Colliers International agents Michael Crombie and Neil Murray are marketing the sub-lease.
“These are two of the best buildings in Mascot, occupied and recently refurbished to a very high standard for one of Australia’s leading companies, and are now being offered at highly competitive rates of around $450 per sqm gross effective rent,” Mr Crombie said.
“We are seeing an increasing number of Sydney CBD and fringe tenants looking at South Sydney as a great alternative, we still have incredible access to rail and amenities, yet the rent will be the major selling point, especially when occupiers see the quality of this fit out. 
Colliers have also listed for sub-lease 2,000 sqm of space in Melbourne's 333 Collins Street, as well as 1,500 sqm at the Qantas Premium Contact Centre in Hobart.
 
 
 
 
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Qantas sub-leasing Mascot HQ office space

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EXPERT OBSERVER
One definition suggests an economist is someone who can explain to you tomorrow why what they predicted yesterday didn’t come true today.
This very apt description of the behaviour of economists is being seen daily in major media, on a wide range of subjects including residential real estate.
The chattering economists – who collectively comprise the most over-rated and thoroughly unnecessary profession in the world of business – have been very noisy in their attempts to exploit the pandemic for publicity.
But they’re constantly wrong and regularly re-frame their forecasts. It’s common for high-profile economists, like the ones who work for banks and other big institutions, to make a loud forecast about interest rates or GDP or property prices – and journalists will breathlessly report their views. 
Then two months later the same talking heads will announce new forecasts which contradict the ones they made 60 days earlier. They get away with it because journalists appear to believe that credibility is not important – the moniker “economist” is all you need.
But if you were a major company which based an important business decision on a forecast by Bill Evans or Shane Oliver – and then discovered a couple of months later that they had changed their forecast, you would be justifiably annoyed.
So, back in February-March when the pandemic first struck, economists were lining up to forecast that real estate prices would collapse. Predictions ranged from 20% to 30% - and, in some extreme cases, from the usual suspects, 40% in terms of the slump in house prices. 
According to most of them, the collapse was going to be immediate and dramatic, as we had already seen with share-markets.
So in early April, when the price data for March came out and showed prices rising in most cities, the economists and journalists quickly rationalised that away – as in: “Yes, but it’s early days, wait until next month …”
So in early May new price data was published and it again showed no evidence of anything other than enduring strength in real estate markets. The economist/media response was pretty much the same: “Yes, but we’ve haven’t seen the full impact yet, wait until we see the data in June …”
But the June figures showed further sturdiness and the response was the same. And again in July and again in August.
So here we are in September. The CoreLogic figures show that only two of the eight capital cities recorded decreases in house prices during August. In annual terms most cities and most state regional jurisdictions still have house pricing levels significantly higher than a year ago.
So we’ve been immersed in this pandemic shemozzle for six months and there’s been a huge economic and social impact, but still no evidence of real estate buckling under the weight of it all.
And still economists are refusing to admit their palpable incompetence, despite the fact that some of them have revised their forecasts to be less extreme than before.
The new rationalisation is: property prices haven’t fallen because of support measures by the Federal Government and the major banks – and when that’s wound back, prices will collapse.
But they’re wrong again. Once again, economists have failed to understand real estate dynamics or to admit that housing markets don’t fit neatly into their economic theories about how they should behave.
Most of Australia is not dramatically impacted by the pandemic – or certainly not in a negative way. For those important bits of Australia that exists outside of Sydney and Melbourne, which is where two-thirds of us live, there are no lockdowns or crippling restrictions – and people are just getting on with it.
They see market after market – in the smaller capital cities and in most regional areas – where …
<ul class="ul1">
<li class="li1">buyers are active, 
</li>
<li class="li1">there’s not much for sale,</li>
<li class="li1">vacancies are ultra low,</li>
<li class="li1">rents are rising,</li>
<li class="li1">prices are solid or rising.</li>
</ul>
I’m having conversations every day with real estate professionals and consumers around the nation and I have yet to speak to anyone who is struggling. Even Melbourne businesses are finding ways to function amid Daniel Andrews’ spectacular mismanagement and are busy servicing their clients.
Certainly, my business has never been busier or more prosperous.
There a huge disconnect between media rhetoric and the reality for most Australians – the ones who don’t live in the two biggest cities where most of the chattering economists lurk.
FOOTNOTE: Here’s a clue on how to identify a charlatan – someone who pretends to be a real estate expert when they’re not. If they speak of Australian real estate as a single market, they’re a fraud so you can safely disregard them. That eliminates most of the high-profile economists in the land.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

No evidence of real estate buckling under COVID-19 weight: Hotspotting's Terry Ryder

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EXPERT OBSERVER
The Australian Retailers Association (ARA) has welcomed the Victorian Government’s expanded financial support package for Small to Medium Size Businesses (SMBs) but cautioned it won’t be sufficient to prevent an avalanche of permanent retail closures due to protracted lockdown restrictions.
The immediate grants and tax relief would offer important survival funding for small retailers, but won’t address the fallout of jobs and store closures for medium or larger size retailers which employ the majority of Victorian retail staff.
We are pleased that smaller retailers with payroll of less than ten million dollars can access cash grants and deferred payroll tax. The CBD focus announced today is also critically important, with those retailers more affected than most due to the collapse of all forms of viable visitor numbers since early this year.
However, grants of $10,000 to $20,000 only represent a tiny percentage of the losses retailers are now carrying. Whilst the increased threshold for retailers with larger payrolls is valuable, this remains a very low bar for retail and means there is no support for many of the retailers that represent the household names Victorians know and love. Many of these retailers are unable to access JobKeeper and have no support to offset their considerable losses.
We are also concerned that deferred payroll tax creates yet more mounting debt for retailers already carrying significant deferred leasing costs.
Retailers are committed to the safety of Victorians, but the sector remains extremely concerned about the catastrophic impact of the proposed approach to retail reopening contained in the Roadmap. 
In its current form, we predict the Roadmap measures will mean the permanent loss of up to 50 per cent of Victorian small retail operations that might otherwise survive, leaving many thousands of people unemployed. Some areas of retail, such as CBD retail, will take up to a decade to recover.
The Roadmap means retailers will have been in lockdown for or many months ongoing, in addition to the previous round of lockdowns. And some have been in continuous lockdown since March, which is globally unprecedented and untenable on many levels.
Alternate Covid-safe measures
Covid-19 transmissions within retail remain extremely low, with an ARA members survey last week indicating that 93.4 percent of retailers have had no cases of Covid-19 transmissions in their stores or distribution centres.
We would like to see a much earlier reopening and believe an approach to reopening which is better aligned with successfully working examples, such as NSW, is reasonable to consider.
In addition to the existing Covid-safe measures, retailers would support broader measures, such as:
<ul>
<li>The restriction of people movement to one person per household in the same way we have for essential services and supermarkets in recent weeks. </li>
<li>Mandatory mask wearing by both customers and staff to help protect and mitigate any risk of transmission. </li>
<li>The introduction of Covid marshalls, consistent with the South Australian approach, would be another area our larger retailers would support.</li>
<li>Other Covid-safe measures identified by the Victorian Government which avoid strict lockdowns. </li>
</ul>
 Retailers are also actively undertaking the Government subsidised (accredited) infection control training, which the ARA provides, in the lead up to re-opening. 
Retailers will be relying on Christmas earnings to help offset their significant 2020 financial losses. With this financial outcome now also in jeopardy, many retailers will be considering permanent store closures.
Accruing leasing deferrals payments will push more businesses to bankruptcy. Whilst we applaud the extension of the national leasing code protections, the legislation requires 50 per cent of rent to be deferred and repaid later, in a protracted lockdown environment this is now a burden that may bankrupt many small businesses in Victoria and weigh heavily on their mental health,"he said. 
The ARA is pleased to see the easing of lockdown timings for beauty businesses, with those businesses now able to open a month earlier on 26 October, in line with hairdressers. This is a point ARA and our sister organisation Health and Beauty Industry Association (HBIA) have advocated for and also provides an important win for a sector which employs and services thousands of women.
ARA Recommended Retail Roadmap
Key recommendations provided to the Victorian Premier last week include the following measures:
<ol>
<li>Immediate increase in warehouse and distribution centre staffing.</li>
</ol>
A further six weeks of lockdown ahead for most retailers will place an untenable strain on supply chains not only in Victoria, but around the country. Distribution centres can not only provide an online offset against physical closures, but they take some of the strain off physical stores particularly as we get closer to the Christmas period. The flow on effect of this constraint is that it will mean unsafe levels of pent-up demand are in place by the time retail does reopen.
The ARA requests that warehouse teams, including those in retail distribution centres, and ‘dark stores’ are allowed to increase their staff numbers to full capacity. This can be achieved in two shifts to allow a safe workforce bubble to be maintained. 
These centres have been safely operating at a two thirds arrangement during the recent lockdowns to support online retailing. ‘Dark stores’ are important to include in this provision, as many retailers do not operate warehouse locations and they also help spread the distribution load safely allowing better distancing and workforce bubbles.
<ol start="2">
<li>Reassessment of case loads</li>
</ol>
The ARA is concerned that the target case-loads of less than five daily cases is unrealistic and inconsistent with the approach of other jurisdictions. New South Wales has been operating at case-loads in the double digits (generally between 8 - 18) for much of August and remained open successfully and without significant infection spikes. 
We believe that when Victoria reaches NSW levels of containment, retailers should be able to safely open. The ARA supports a nationally consistent approach in line with the <a href="https://email.retail.org.au/e2t/tc/VVFb0z1jBD0GW3WdX0Z5SZF3fW3S9mTt4fZc05N3ypqDr5nxG7V3Zsc37CgzZCW2hj3JY8t4Z6DW51nR1l7kfxkBW2123NY7Mnrf4W3HB5zG7mDSqgVRW9Vd2k1KSLW86TsSz5YWt2CW45gfPq8B--5tW8RKzwj1h0FSfN2MDhQYvd3JpW1slz-B6qQvLyN1-v0m0gZ666W4c4xYG2QgC8PVx9rQh8DXT_QW9gbdWP19kX-HW2gMn1V23M86bW2VsnNj9kp886W7Zsw4p2wYpG3W5XnCmF4PxBpVW972SBQ2WFBL3VJ-z1L2GvfZCW1fhW5b3Fjr3kW28SMPX5hZCjzW7cWt5r4g1Qd3W331dTm6KjjjmW8XsL7V55vC9zW1f4GQ58FpcS7W7c4WTt4wGZDSW72T2hS5v-lPcW7pXlf-6yB6B8W39VXkm232NDDN96XSbHsHWtNW4DCDsc49JMks3mj_1" target="_blank">nationally agreed trigger for hotspots</a> of a rolling three-day average of ten locally acquired cases per day – 30 over three consecutive days, in line with medical advice.
<ol start="3">
<li>Bring retail reopening dates forward for low-risk retailers</li>
</ol>
In light of all of the above considerations, we propose a progressive reopening, bringing the retail reopening dates forward by a number of weeks to allow a more even spread of retail activity prior to Christmas.  
<ol start="4">
<li>A gradual extension of trading hours</li>
</ol>
To help reduce the intensity of peak shopping, which will be based on pent up demand and the delayed start to Christmas shopping, we propose relaxed retail trading hours to allow for improved social distancing.
Retail is a broad church - from hairdressers to hardware, fashion to food. A one-size-fits-all model does not appropriately reflect the true safety considerations across the sector. We support prioritisation of opening for: the full staffing of distribution centres (as noted above), regional locations, large retail stores, stand alone and high street locations, and shopping centres, using a hot-spot approach.
 The retail industry is keen to work with the Victorian Government to support a safe and sensible retail reopening plan. We are asking the Victorian Government to consider a holistic view of health and safety considerations.
The stress created by lockdowns and complete financial collapse of the majority of small and medium retailers will have a health flow-on effect that is not currently being addressed or measured.
Many retailers may not only lose their life’s work, but face a legacy of permanent unemployment including many young people and women, with retail as a largely female workforce. 
With Victoria as Australia’s capital of freight and distribution, the lockdowns have also financially impacted retail operations around the country.
Paul Zahra is the CEO of The Australian Retailers Association.
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ARA welcome Victorian Government's expanded financial support package for retailers

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The Real Estate Institute of Victoria is calling on the Victoria government to allow one-on-one inspections of properties.
The VIC peak body says inspections will help save a number of Victorians from financial distress and homelessness.
REIV chief executive Gil King says what they are asking for is "absolutely safe".
“We understand that the larger gatherings at public auctions and open houses are a risk", King says.
"That is not what we are asking for.  
"Private one on one inspections are absolutely safe.”
King says online auctions aren't happening because people can not see the house they want to buy in person.
"The Victorian property market has come to a standstill with zero auctions over the weekend", King added.
"This is about people, buyers, vendors and tenants alike.   
"Allowing private inspections means that the market will be ready for revival when the time is right.”
Metro Property Management director Leah Calnan, who is the REIV's chairperson of the property management chapter committee, says inspections can be conducted safely.
“The real estate industry has been prepared with systems, processes and procedures to allow safe inspections by appointment.”
“We see everyday the impact this hard lockdown is having on our tenants and owners; we cannot expect people to lease or buy without seeing the property.”
“It will be a legal nightmare to have someone buy or rent and then want to exit the contract when they eventually see the property.”
 
 
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