<p>A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.</p>

<p>Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=5829]</p>

<p>Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.</p>

<p><a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=223737]</p>

<p>Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.</p>

<p>“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.</p>

<p>Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=5827]</p>

<p>La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.</p>

<p>The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.</p>

<p>[smartcode_project:default project_id=134951 project_image_fid=223727]</p>

<p>La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.</p>

<p>Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.</p>

<p>“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.</p>

<p>Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.</p>

<p>[smartcode_project_cta:default project_id=134951]</p>


Staff Writer

La Vera delivers a nature-connected address within Macquarie Park’s core

<p><a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.</p>

<p>Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.</p>

<p>At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe></p>

<p>The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;</p>

<p>[smartcode_project:default project_id=30959 project_image_fid=292861]</p>

<p>The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.</p>

<p>Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;</p>

<p>“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.</p>

<p>"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."</p>

<p>[smartcode_project:default project_id=30959 project_image_fid=310337]</p>

<p>Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.</p>

<p>At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.</p>

<p>[smartcode_project:default project_id=30959 project_image_fid=310337]</p>

<p>This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.</p>

<p>With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.</p>

<p>From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.</p>

<p>[smartcode_project_cta:default project_id=30959]</p>


Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

<p data-end="350" data-start="236">There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.</p>

<p data-end="625" data-start="352">Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.</p>

<p data-end="884" data-start="627">The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.</p>

<p data-end="1031" data-start="886">The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.</p>

<p><img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" /></p>

<p data-end="1469" data-start="1033">The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.</p>

<p data-end="1676" data-start="1471">Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.</p>

<p data-end="1885" data-start="1678">In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.</p>

<p data-end="2030" data-start="1887">“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.</p>

<p data-end="2253" data-start="2032">They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.</p>

<p data-end="2537" data-start="2255">“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”</p>

<p><img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" /></p>

<p data-end="2687" data-start="2539">Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.</p>

<p data-end="2884" data-start="2689">Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.</p>

<p data-end="3329" data-start="2886">Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.</p>


Joel Robinson

First look: Old Burleigh Road apartment development wave continues

<p data-end="255" data-start="117">Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.</p>

<p data-end="598" data-start="262">Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.</p>

<p data-end="983" data-is-last-node="" data-start="605">Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.</p>

<p><img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" /></p>

<p>There will be a mix of one- to four-bedroom apartments.</p>

<p>The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.</p>

<p data-end="931" data-start="563">“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”</p>

<p data-end="1484" data-start="1120">Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.</p>

<p data-end="1658" data-start="1486">“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”</p>

<p data-end="2275" data-start="1884"><img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" /></p>

<p data-end="379" data-start="125">In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.</p>

<p data-end="653" data-start="386">Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.</p>


First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

<p data-end="475" data-start="307">John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.</p>

<p data-end="693" data-start="477">Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.</p>

<p data-end="893" data-start="695">In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.</p>

<p data-end="1074" data-start="895">The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”</p>

<p data-end="1326" data-start="1076">In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.</p>

<p><img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" /></p>

<p data-end="1531" data-start="1328">Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”</p>

<p>"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. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."</p>

<p data-end="2074" data-start="1964">DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.</p>

<p>"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."</p>

<p><img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" /></p>

<p data-end="2804" data-start="2627">The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.</p>

<p data-end="2978" data-start="2806">“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.</p>

<p data-end="3245" data-start="2980">The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.</p>

<p data-end="3406" data-start="3247">The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.</p>

<p><img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" /></p>

<p data-end="3625" data-start="3408">There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.</p>

<p data-end="3986" data-start="3627">Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.</p>

<p data-end="4229" data-start="3988">He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.</p>


First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

Tourism

<html><body>
<p>The federal government's latest tourism recovery package seems set to ignite investor and owner occupier purchasing interest in coastal Queensland property in coming months.</p>

<p>Between May and July, the federal government will subsidise the price of nearly 800,000 airline tickets as part of a $1.2 billion tourism package aimed at getting more Australians to spend big on domestic holidays.</p>

<p>A 50 per cent discount via taxpayer-subsidised airfares will be offered for flights to and from 13 regions that typically rely heavily on international visitors.</p>

<p>The 13 destinations include the Gold Coast, the Sunshine Coast, Cairns, and the Whitsundays region.</p>

<p>"This package will take more tourists to our hotels and cafes, taking tours and exploring our backyard," Prime Minister Scott Morrison suggested.</p>

<p>But the property industry have expectations the visitors will also spend up on property, and some will even sell up down south and stay in Queensland.</p>

<p>The destinations also include the Lasseter region which includes Uluru, Alice Springs, Launceston, Devonport, Burnie, Broome, Avalon, Merimbula and Kangaroo Island.</p>

<p>Last year during the height of the pandemic Ripehouse Advisory released its COVID-19 Australian Property Report warning property buyers and investors should avoid buying in locations highly dependent on travel and tourism. </p>

<p>Ripehouse Advisory estimated locations heavily exposed to tourism and travel had quickly experienced an average reduction in value of 2.5 per cent, and some have seen more than 10 per cent.</p>

<h2>Gold Coast Projects</h2>

<p>[smartcode_project:default project_id=22057]</p>

<p>[smartcode_project:default project_id=27575]</p>

<p>[smartcode_project:default project_id=6515]</p>

<p>[smartcode_project:default project_id=7840]</p>

<h2>Sunshine Coast Projects</h2>

<p>[smartcode_project:default project_id=13241]</p>

<p>[smartcode_project:default project_id=29119]</p>

<p>[smartcode_project:default project_id=22041]<br><br>
[smartcode_project:default project_id=29122]</p>
</body></html>

The 13 destinations include the Gold Coast, the Sunshine Coast, Cairns, and the Whitsundays region

jchancellor

Half price airline tickets to boost property investor interest in coastal Queensland locations

<html><body>
<p>A Singaporean tourism developer has snapped up a vacant site in Albany as Lots 1&amp;2 Frenchman Bay Road sold for $1,050,000 following a successful campaign.</p>

<p>The two combined lots were zoned for tourism use and offered a total 3.2594 ha site area, with Lot 1 occupying 1.8987 ha, and Lot 2 occupying 1.3607 ha.</p>

<p>The property was marketed and sold by Ray White Commercial (WA) Senior Property Advisor Brett Wilkins and Hotels, Tourism and Leisure Advisor Phil Zoiti.</p>

<p>“The land is unique in relation to its location and views and is close to a number of attractions including Whale World, the Salmon Holes, and the Torndirrup National Park. The site is currently vacant and has planning approval in place for development of 24 accommodation units - together with a caretaker’s residence and café,” Mr Wilkins said.</p>

<p>Mr Zoiti said, “Investment sentiment is positive for regional tourism assets - whether it be bricks and mortar or development sites - which is indicative of the market in 2019 and before the COVID-19 pandemic."</p>

<p>“Whilst there was a temporary setback with COVID-19 back in March 2020, we have seen a strengthening of the sector - especially in the accommodation and caravan park markets - in both visitor nights and spend. "</p>

<p>“Overall, enquiry levels for regional hotel and tourism assets has increased tenfold in the past six months with investors looking to buy in key tourism areas such as Kununurra, Broome, Carnarvon, Shark Bay/Denham, Kalbarri, Dongara, Bunbury, Margaret River/Busselton, Albany and Esperance,” he concluded.</p>
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The tourism developer snapped up a vacant site in Albany as Lots 1&2 Frenchman Bay Road sold for $1,050,000 following a successful Ray White campaign

urban.com.au

Singaporean developer purchases Albany tourism site for $1.05 million

<html><body>
<div>Net permanent and long term migration into Australia seems to be steadying, summimg +266,400 in the year to August, according to the latest ABS Overseas Arrivals and Departures figures. </div>
<p><a href="/images/2016/10/11/C2.jpg" target="_blank">Click to enlarge </a></p>
<div class="separator"><img src="/images/2016/10/11/C2.jpg" alt=""></div>
<div> </div>
<div>The number of permanent settlers per annum appears to be very gradually rising again, with 57.1 per cent of settlers hailing from Asia. </div>
<p><a href="/images/2016/10/11/C5.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/11/C5.jpg" alt=""></p>
<div> </div>
<div>It feels as though annual population growth in 2016 will be tracking at around +1.3 per cent, or somewhere between +300,000 and +350,000. </div>
<div> </div>
<div>However, the composition of growth has changed very significantly since the peak of the mining investment boom in 2012, with Sydney and Melbourne accounting for a record and ever-greater share of the headcount growth. In aggregate, regional population growth has slowed. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Chinese arrivals</span></strong></div>
<div> </div>
<div>More dramatically, total annual short term arrivals increased by a very strong +10.6 per cent over the year to August, to sit at a smidgen under 8 million.</div>
<div> </div>
<div>Outbound trips are still increasing too, but at a far less sprightly pace (in fact the pace of outbound growth is less than half of that of short term arrivals, meaning that a positive rebalancing continues). </div>
<p><a href="/images/2016/10/11/C3-1.jpg" target="_blank"> Click to enlarge</a></p>
<div class="separator"><img src="/images/2016/10/11/C3-1.jpg" alt=""></div>
<p>The annual number of Chinese arrivals continues to accelerate at an astonishing pace, increasing by +23.1 per cent over the past year to a new high of 1.18 million. </p>
<div>There are now more annual visitors from China and Hong Kong to Australia than there are from our more proximate neighbour New Zealand. </div>
<div> </div>
<div class="separator"><a href="/images/2016/10/11/C4.jpg" target="_blank">Click to enlarge</a></div>
<p><img src="/images/2016/10/11/C4.jpg" alt=""> </p>
<div>While many are short term arrivals <em>bona fide</em> tourists, a total of precisely 500,000 short term arrivals into Australia over the year to August were primarily for the purposes of education.</div>
<p><a href="/images/2016/10/11/C1.jpg" target="_blank">Click to enlarge</a><br><img src="/images/2016/10/11/C1.jpg" alt=""></p>
<div> </div>
<div>Higher education is hugely attractive for international students from Asia, since it comes with the lure of potential permanent residency, obviously a big drawcard. </div>
<div> </div>
<div>Note that there are now more than two years of water under the bridge since the higher education boom really teed off in earnest, meaning that over the next year or two there may is likely to be a very strong uplift in students being granted permanent residency (as indeed is forecast by the DIBP) or sundry visa types.</div>
<p><strong><span style="text-decoration: underline;">The wrap</span></strong></p>
<p>While permanent and long term migration to Australia seems to have levelled out, arguably the more significant trends are taking place beneath the surface. </p>
<div>There is plenty of noise in month-to-month figures, but simply following the trend in the number of monthly visitors from China shows a doubling from less than 50,000 per month in early 2012 to well over 100,000 per month in Q3 2016. </div>
<div> </div>
<div>In terms of the property sector, while it's true that that the incoming wave of Chinese capital most impacts new and off-the-plan properties, there are now so many permanent residents and citizens of Chinese heritage that the impacts have shifted into established property too. </div>
<div> </div>
<div>
<em>News</em> draws a tangible link between education arrivals and Chinese property buying activity, notably in inner Sydney suburbs such as Haymarket, Ultimo, Kensington, Surry Hills, Waterloo, and other parts of South Sydney, for example. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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pwargent-M4siyDbqQY

Chinese visitors more than double in 4 years: Pete Wargent

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<p><span>EXPERT OBSERVER</span></p>
<p><span>Australia's trade balance is now falling away.</span><br><br><span>In fact, it was already tailing away by the end of February.</span></p>
<div class="separator"><a href="https://1.bp.blogspot.com/-DOmhb_SA0jA/Xoxjg6jjTAI/AAAAAAAA1I4/z6XkdAsKbEEsekV4D5rPxPY-9iwwGHnwACNcBGAsYHQ/s1600/IT1.jpg"><img src="https://1.bp.blogspot.com/-DOmhb_SA0jA/Xoxjg6jjTAI/AAAAAAAA1I4/z6XkdAsKbEEsekV4D5rPxPY-9iwwGHnwACNcBGAsYHQ/s640/IT1.jpg" width="640" height="372" data-original-height="818" data-original-width="1402"></a></div>
<p><span style="font-size: 12.16px;">Coal exports were dropping away in the early months of 2020.</span></p>
<p> </p>
<p><a href="https://1.bp.blogspot.com/-xILeCnbw360/XoxjhNrg4gI/AAAAAAAA1I8/_YE1hMJWV5A8JbIEaqS5y5KyO7YFa1_oQCNcBGAsYHQ/s1600/IT2.jpg" style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-xILeCnbw360/XoxjhNrg4gI/AAAAAAAA1I8/_YE1hMJWV5A8JbIEaqS5y5KyO7YFa1_oQCNcBGAsYHQ/s640/IT2.jpg" width="640" height="388" data-original-height="830" data-original-width="1369"></a></p>
<p><span>And commodity export values had rolled over.</span><br><a href="https://1.bp.blogspot.com/-XinURAg-fLg/XoxjhIC658I/AAAAAAAA1JA/7IOfS1zHzgcbMnLHiaYwpBlodZB4CfuOwCNcBGAsYHQ/s1600/IT3.jpg" style="font-size: 12.16px;"></a></p>
<p><a href="https://1.bp.blogspot.com/-XinURAg-fLg/XoxjhIC658I/AAAAAAAA1JA/7IOfS1zHzgcbMnLHiaYwpBlodZB4CfuOwCNcBGAsYHQ/s1600/IT3.jpg" style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-XinURAg-fLg/XoxjhIC658I/AAAAAAAA1JA/7IOfS1zHzgcbMnLHiaYwpBlodZB4CfuOwCNcBGAsYHQ/s640/IT3.jpg" width="640" height="370" data-original-height="834" data-original-width="1441"></a></p>
<p><span>Worryingly, even in February services credits were hammered, as tourism began to dry up.</span></p>
<p><a href="https://1.bp.blogspot.com/-FpYKdHb0Tn4/Xoxjh8WkNAI/AAAAAAAA1JE/BLjF-zHbAN4U6BUBPBbalg5wG7WV-LYiwCNcBGAsYHQ/s1600/IT4.jpg" style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-FpYKdHb0Tn4/Xoxjh8WkNAI/AAAAAAAA1JE/BLjF-zHbAN4U6BUBPBbalg5wG7WV-LYiwCNcBGAsYHQ/s640/IT4.jpg" width="640" height="390" data-original-height="832" data-original-width="1364"></a></p>
<div class="separator"> </div>
<div class="separator"><span style="font-size: 12.16px;">The Reserve Bank didn't sugar-coat anything in its Minutes today, predicting a sharp contraction in growth and a substantial rise in unemployment.</span></div>
<div> </div>
<div>The RBA noted that financial markets have been operating somewhat more effectively, partly thanks to central bank measures around the world, with a starburst of co-ordinated fiscal and monetary stimulus coming down the pipe. </div>
<div> </div>
<div>Borrowing costs for some new borrowers are declining, but note that these trends impact borrowers on a case by case basis, and in some respects lending standards and assessments have been tightening and becoming more conservative.</div>
<div> </div>
<div>
<strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
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Australia's trade balance is falling away: Pete Wargent

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<div>
<p><span>The significant depreciation of the Aussie dollar has encouraged a record 7.2 million short-term visitors to Australia over the past year.</span></p>
<p><span>But why are people coming?</span></p>
<p><span>The main reason is for holidays (3.24 million), and ever more so from China and its provinces.</span></p>
<p><span>Increasingly, though, folk are also coming to Australia to visit their friends, families and relatives, with more than 2 million people falling into this category.</span></p>
<p><span>The other huge growth area is for education, with a smashing 451,000 education arrivals in the past year, a massive annual increase of well over 17%.</span></p>
</div>
<div><a href="/images/2015/10/08/Arr.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/10/08/Arr.jpg" alt=""></div>
<div> </div>
<div>
<div>These figures suggest a boost for tourism economies such as the Gold Coast, Sunshine Coast and Tasmania, for example.</div>
<div> </div>
<div>The latest available government data shows that the boom in foreign students is overwhelmingly a capital city dynamic.</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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Why are people coming Down Under? Pete Wargent

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<p>A new five-star resort in the tourism hotspot has been announced for Western Australia’s Margaret River region.</p>
<p>The Westin Margaret River Resort &amp; Spa is a joint development between Saracen Properties and Security Capital Australia.</p>
<p>CBRE Hotels and KWM acted as joint exclusive advisor to negotiate the Hotel Management Agreement with operator, Marriott International.</p>
<p>Located on the southern headland of Gnarabup Beach, the luxurious resort has been designed by architects, Christou Design Group.</p>
<p>The earmarked site has direct access to the famous Cape to Cape walking trail, nearby national forests, ancient caves and world-class surf breaks.</p>
<p>The resort will be positioned in the heart of the famous wine region, just 10km from the Margaret River town centre.  </p>
<p>CBRE’s Head of Capital Markets for Western Australia, Aaron Desange said the announcement was particularly welcomed in the current climate.</p>
<p>“The Westin Margaret River Resort &amp; Spa will be a major drawcard for the South West region and will further boost Margaret River’s presence on the international stage. More than 15 regional and international operators bid for this opportunity, which underlines the scarcity of five-star resort development opportunities in thriving regional Australian leisure markets,” he said</p>
<p>“Importantly, this announcement will increase the region’s luxury tourism appeal, which will help contribute to injecting much-needed revenue back into our state after particularly challenging economic times.”  </p>
<p>Scheduled to open in 2023, the Westin Margaret River Resort &amp; Spa, is expected to feature 120 guestrooms, three on-site dining venues, 400 square metres of meeting space, extensive leisure facilities, including a resort-style outdoor swimming pool, and day spa.</p>
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j.ballantyne1990-6AQqhLzZaK

New five-star resort announced for Margaret River region

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<p>EXPERT OBSERVER</p>
<p>When live auctions were banned due to the health crisis, the number of auctions dropped dramatically with a double hit coming from a broader drop in listing volumes.</p>
<p>Yesterday, there were 137 auctions scheduled in Sydney and 110 scheduled in Melbourne, representing a significant drop compared to this time last year – and auction numbers were already very low due to the 2019 federal election.</p>
<p>While clearance rates only look at a very small portion of the market, the big spike in the New South Wales clearance rate last weekend to 77% is perhaps proof that buyer activity remains strong and that buyers are more comfortable buying in-person than online. This theory is also supported by increased levels of buyer enquiry and search activity on <a href="https://www.realestate.com.au/buy" target="_blank" rel="noopener noreferrer">realestate.com.au.</a></p>
<p>This weekend, the clearance rate hit 72% in New South Wales and 70% in Victoria.</p>
<p><strong>Restrictions on overseas travel could be a boon for domestic tourism</strong></p>
<p>Australians love overseas travel, spending more money overseas ($58.3 billion) in 2019 than foreign tourists spent in Australia ($44.6 billion).</p>
<p>With borders shut due to the COVID-19 pandemic, that $58.3 billion will stay in Australia and it’s likely a fair proportion of it will be spent on domestic travel. Once domestic travel is up and running again, we may even get close to the $80.7 billion spent on domestic overnight travel last year, or perhaps even exceed that figure.</p>
<p>Tourism Research Australia provides a high level of detail on where both domestic and overseas tourists like to travel. In every part of Australia, domestic tourists spend more than overseas tourists except in one location – Sydney.</p>
<p>If our travel patterns remain consistent, then the area that will benefit most from a domestic tourism boom will be Melbourne, followed by Sydney and Brisbane. The regional areas that will benefit include the northern coast of New South Wales, Gold Coast and Sunshine Coast.</p>
<p>Domestic tourism could surge on Queensland’s Sunshine Coast after COVID-19.</p>
<p>There is a lot of uncertainty about whether domestic travel patterns will remain consistent. Can Melbourne continue to offer the sporting and cultural events it is so famous for in this environment? Will some states continue to maintain border closures?</p>
<p>The rate of domestic tourism will also depend on marketing expenditure – big campaigns may get us all travelling to the outback, the Limestone Coast or the Fleurieu Peninsula.</p>
<p><strong>Banks are flush with cash but access to funding isn’t easy</strong></p>
<p>The one positive in this downturn is that we are not in a financial crisis. Our banks are well capitalised and, at this stage, are not weighed down by bad debt.</p>
<p>Nevertheless, according to mortgage brokering business Smartline, the banks are being very cautious and taking measures to:</p>
<p>1.Tighten lending policies including discounting of non-core income such as bonuses, casual income and overtime and;</p>
<p>2. Introduce more questions and forms to mitigate losses from people who have been impacted by COVID-19;</p>
<p>3. Meanwhile, Smaller lenders who are less able to weather the storm are being even more cautious – some have even lifted interest rates – and service levels are now varying greatly – those that have relied on off-shore lending operations seem far more heavily impacted. Insurers are also being much stricter.</p>
<p>While access to funding isn’t easy, it hasn’t dented demand for home loans and many people are looking to refinance to get a better deal. Total submissions for home loans through Smartline have increased 21% while settlements have increased by 8%.</p>
<p><strong>NERIDA CONISBEE</strong> <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank"><em>is the chief economist for the REA Group</em></a></p>
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Return of live auctions is great news for Australian property: REA's Nerida Conisbee

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<p class="legacy">GUEST OBSERVATION</p>
<p>Until a trans-Tasman travel bubble is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-05-04/trans-tasman-bubble-coronavirus-what-might-happen-next/12212580" target="_blank">established</a>, there is little doubt the New Zealand tourism industry will <a href="https://www.rnz.co.nz/news/national/413845/covid-19-domestic-travellers-eyed-to-keep-tourism-sector-viable-after-lockdown" target="_blank">rely entirely</a> on domestic travel post-COVID-19.</p>
<p>Without underplaying the impact the pandemic will have on discretionary spending in both countries, however, there may be a silver lining to the crisis.</p>
<p>New Zealand is in the fortunate position of having an <a href="https://tia.org.nz/about-the-industry/quick-facts-and-figures/" target="_blank">already strong</a> domestic tourism sector. Domestic tourists spent NZ$23.7 billion annually (or NZ$65 million a day) pre-COVID-19, compared to a total spend of NZ$12.7 billion (or NZ$47 million a day) by international visitors. <a href="https://www.propertyobserver.com.au/https://openrepository.aut.ac.nz/handle/10292/11857" target="_blank">Research</a> pre-COVID-19 showed 65% of New Zealanders wanted to explore more of their country, a figure expected to increase.</p>
<p>True, New Zealanders generally don’t have the deep pockets international tourists have. Their higher overall spend is a reflection of their numbers, not their bank balances. But with the big ticket tourist attractions now missing the bigger spenders, the market will rule.</p>
<p>Regional tourism organisations, attractions and operators may need to rethink their offerings and their pricing. While tramping the <a href="https://www.doc.govt.nz/parks-and-recreation/things-to-do/walking-and-tramping/great-walks/" target="_blank">great walks</a> may be perfectly affordable for a family of four, taking the family on a whale watch, a bungy jump or a cruise on Milford Sound may not be – especially as parts of one big holiday. Indeed, it has been found that <a href="https://www.propertyobserver.com.au/https://openrepository.aut.ac.nz/handle/10292/11857" target="_blank">price</a> is the major decision-making factor for 30% of New Zealanders when it comes to holidays.</p>
<p>So this is also an opportunity to give New Zealanders back a piece of the summer pie – not only for the COVID-19 recovery but in the longer term. Summers have tended to be characterised by a large influx of international tourists, with Kiwis settling for shoulder seasons (and unfavourable weather) to tramp the famous tracks when they are <a href="https://www.stuff.co.nz/environment/99088942/tourists-outnumber-new-zealanders-on-the-great-walks--and-the-gaps-growing" target="_blank">less crowded</a>.</p>
<p><img src="https://images.theconversation.com/files/331898/original/file-20200501-42929-8lze50.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><span class="caption">Attractions such as the famous Shotover Jet near Queenstown may have to adjust costs to suit Kiwi pockets.</span> <span class="attribution"><span class="source">www.shutterstock.com</span></span></p>
<p>But domestic tourists who have grown accustomed to off-peak holidays away from high-cost destinations will soon tip the scales. Now is the time for operators to win back their hearts.</p>
<p>With New Zealand’s gradual easing of its strict lockdown (possibly to the stage of allowing non-essential travel by mid-May), tourism can clearly support the economic revival of local communities. The challenge is how to reinvent New Zealand tourism as an initially purely domestic industry.</p>
<p>Overall, only a handful of New Zealand destinations have depended entirely on international tourists. These also happen to be the places most heavily associated with overtourism in the past. Given that the <a href="https://www.tandfonline.com/doi/full/10.1080/14616688.2020.1759131" target="_blank">growth model</a> driven by short-term, dollars-first business thinking has led to an <a href="https://www.noted.co.nz/money/money-economy/nz-tourists-should-we-limit-number-visitors" target="_blank">unsustainable</a> tourism market, might this also be a chance to restore some equilibrium?</p>
<p>That will mean no more killing the goose that lays the <a href="https://www.pce.parliament.nz/publications/pristine-popular-imperilled-the-environmental-consequences-of-projected-tourism-growth" target="_blank">golden egg</a>. Some hotspots, such as the <a href="https://www.tongarirocrossing.org.nz/" target="_blank">Tongariro Alpine Crossing</a> and <a href="https://www.thecoromandel.com/activities/must-do/hot-water-beach/" target="_blank">Coromandel’s Hot Water Beach</a> may be managed by restricting visitor numbers.</p>
<p>Such strategies have long been in place in other places, such as the <a href="https://www.doc.govt.nz/parks-and-recreation/places-to-go/fiordland/places/fiordland-national-park/things-to-do/tracks/milford-track/" target="_blank">booking requirement</a> for the Milford Track. We have also seen tremendous problems associated with too many cruise ships in too small places. Akaroa is a prime example, and limiting both the number of visits and the size of vessels may be a feasible <a href="https://www.radionz.co.nz/audio/player?audio_id=2018685520" target="_blank">future strategy</a>.</p>
<p><img src="https://images.theconversation.com/files/331899/original/file-20200501-42929-1nm13fy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><span class="caption">A cruise liner arrives at tiny Akaroa in the South Island: limiting the number of visits to small centres has already been proposed.</span> <span class="attribution"><span class="source">www.shutterstock.com</span></span></p>
<p>As part of our own research (yet to be published) into the pressing issues of overtourism we conducted interviews with various tourism stakeholders around New Zealand, including city and regional councils, the Department of Conservation, residents and operators. This took place just before New Zealand’s strictest lockdown level was imposed, without any real foreknowledge of the eventual economic impact of COVID-19.</p>
<p>Nonetheless, our interviewees shared very similar sentiments when it came to how the industry can evolve sustainably only if New Zealanders themselves embrace the behaviours they expect (and sometimes demand) of foreign tourists. According to our subjects, too many Kiwis still hold on to a past when the country’s population was half its current size and SUVs and large motorhomes didn’t crowd the roads and parking lots.</p>
<p>Initiatives such as the <a href="https://tiakinewzealand.com/" target="_blank">Tiaki Promise</a>, which promote environmental and cultural sensitivity to tourists, have largely targeted international visitors. These now need to turn the lens inwards so that Kiwis become better ambassadors within their own backyard.</p>
<p>Kiwis love their country, but they will now need to truly discover what it has to offer, not only for a weekend of tramping or a quick getaway, but for their main summer holiday. And they will have to become better kaitiaki (or guardians) of their homeland in the process.</p>
<p>The absence of international tourists will be a huge challenge, but also an opportunity. If we get it right, when those foreign visitors are allowed to return (most likely at first from Australia) we will have found ways to grow – or limit – their numbers and their expectations so that our tourism industry can thrive as well as survive.<img src="https://counter.theconversation.com/content/137256/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/sabrina-seeler-744896" target="_blank">Sabrina Seeler</a>, Postdoctoral Researcher, <em><a href="https://theconversation.com/institutions/nord-university-3607" target="_blank">Nord University</a></em> and <a href="https://theconversation.com/profiles/michael-lueck-804450" target="_blank">Michael Lueck</a>, Professor of Tourism, <em><a href="https://theconversation.com/institutions/auckland-university-of-technology-1137" target="_blank">Auckland University of Technology</a></em></span></p>
<p>This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-coronavirus-survival-challenge-for-nz-tourism-affordability-and-sustainability-137256" target="_blank">original article</a>.</p>
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The coronavirus survival challenge for NZ tourism: affordability and sustainability

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<p><span style="font-size: 12.16px;">Australia is projected to lose $25 billion in foreign spending as COVID-19 cripples tourism from outside of Australia, according to Finder.com.au.</span></p>
<p><span style="font-size: 12.16px;">In this month’s Finder RBA Cash Rate Survey™ – the largest of its kind in Australia – 42 experts and economists weighed in on future cash rate moves and other issues related to the state of the Australian economy. </span></p>
<p><span style="font-size: 12.16px;">The vast majority of experts (87%, 27/31) who weighed in on tourism, expect Australia’s borders to remain closed for the rest of the year, with only four respondents (13%, 4/31) indicating international travel restrictions would be lifted in 2020.</span></p>
<p><strong id="x_m_-4821919292617302644docs-internal-guid-dd5a3120-7fff-cf60-28f1-49d94bdf4397" style="font-family: 'proxima nova', 'helvetica nue', Helvetica, arial, sans-serif; font-size: 16px;"><img src="https://lh6.googleusercontent.com/ZdyacFGEAxiw86iiqygX2ck5EbsLNId8PHvfw-NrEyS91Ab3Gf3X9wctdwrMHIzmZ6YDNjhmgM5iySPAicizgnjLEcYqDMIoJuqVyEqlt6O5gET_Hx9U21Zl70bwtEdFrvI1Jzud" width="619" height="484" style="margin: 0px; padding: 0px; font: inherit; vertical-align: baseline; color: inherit; outline: none;" data-imagetype="External"></strong></p>
<p><span style="font-size: 12.16px;">In total, 13 believe the border will fully reopen in the first 6 months of 2021, while 12 think it will happen later in the year.</span></p>
<p><span style="font-size: 12.16px;">Graham Cooke, insights manager at Finder said there is a risk that the volume of international travellers won’t return for many years. </span></p>
<p><span style="font-size: 12.16px;">"Continuing restrictions are projected to result in millions of fewer tourists into 2021 and with it, billions in foregone spending.</span></p>
<p><span style="font-size: 12.16px;">“This is a problem for all corners of Australia, with 44 cents of every tourism dollar spent in regional destinations,” Cooke said.</span></p>
<p><span style="font-size: 12.16px;">Tourism directly employs 666,000 Australians making up 5% of Australia’s workforce, according to Tourism Australia.</span></p>
<p><span style="font-size: 12.16px;">Australia shut its borders to non-residents amid the coronavirus pandemic on March 20.</span></p>
<p><span style="font-size: 12.16px;">International tourists delivered $45.4 billion to the economy last year, Tourism Research Australia figures show. </span></p>
<p><span style="font-size: 12.16px;">Of that, $17.2 billion was spent by holidaymakers and $7.6 billion was spent by tourists visiting friends and relatives. Just over $13.3 billion was on education from visitors on a student visa. </span></p>
<p><span style="font-size: 12.16px;">Foreigners typically spend around $5,211 on Australian travel and tourism per trip. </span></p>
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