Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<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/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Regional Australia

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Expert Observer

City-based investors are making schoolboy errors amid the frenzy that pervades many property markets across Australia.

They’re selecting regional properties recklessly, they’re committing without proper due diligence and often they’re paying way too much.

“Buy in haste, repent at leisure” will become the catchcry for many investors in the future.

Much of what’s happening in this national property boom arises from the fundamental failing of most Australians who attempt property investment: they’re herd animals.

[smartcode_project:default project_id=5559]

The relatively few who are switched on were buying six or nine months ago. What’s happening now in our property markets was foreseeable and it was predicted by Hotspotting and by others who truly understand real estate dynamics, like Simon Pressley of Propertyology.

Investors who make it their business to stay informed, who have built a team of trusted advisers and who are research-based in their decision-making were in the market well ahead of the rampaging pack.

But they’re the exceptions. Most simply follow the herd. They’re in the market now, or trying to be, because they heard there’s a boom on. 

They haven’t done any work or thought too deeply about it, they’ve simply joined the stampede.

[smartcode_project:default project_id=7317]

Right now, it feels like you could stick a map of Australian on the wall, throw a dart at it, buy wherever it lands - and make money in the next 6-12 months.

But what about the longer term? Does the location of choice have the credentials to provide sustainable long-term growth? Even in rapidly-rising markets, you need to make good choices about location.

Having picked a random location, many are buying sight-unseen and not applying the usual checks and balances. They’re viewing a property online, making a phone call and buying on the spot.

They say the camera doesn’t lie, but the person wielding the camera or the computer software often does. And what about building and pest inspections?

To complete the trifecta of colossal mistakes, buyers are often paying above market value. They think they’re getting a bargain because they’re a city resident buying in a regional area and the target properties appear cheap.

I had a recent conversation with a Sydney resident about the market in a Queensland regional centre where typical houses cost in the $300,000s. He went online while we were speaking and looked at properties for sale. His reaction: “Wow, that’s really cheap!” He was ready to buy on the spot.

[smartcode_project:default project_id=6515]

But while the homes he viewed may have seemed cheap relative to Sydney, they may well have been over-priced in terms of local values. Many vendors are asking silly prices because they’ve heard that many buyers are doing silly things.

As a result of this kind of activity, median prices are rising rapidly – and local buyers are complaining because they’re being priced out of their own markets by buyers from the big cities.

Everyone involved in the process, except perhaps vendors, would prefer more normal markets. But what we have are abnormal conditions, created by a series of events and circumstances which have been building over the past 6-9 months.

It’s not about the low level of interest rates, it’s being generated by the economic and other circumstances which I discussed in this column four weeks ago – 16 dot points on my list of factors generating Australia’s first genuine nationwide property boom in 20 years. 

But fast-rising prices may not cover the mistakes that many investors are currently making.

Terry Ryder is the founder of hotspotting.com.au

ryder@hotspotting.com.au

twitter.com/hotspotting
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They’re selecting regional properties recklessly, they’re committing without proper due diligence and often they’re paying way too much.

terryryder

City-based investors making schoolboy errors in regional investments: Hotspotting's Terry Ryder

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People moving to live and work in Australia naturally gravitate to the big cities such as Sydney and Melbourne, but research suggests regional parts of the country are becoming more popular.
One of the issues is that house prices in most capital cities are becoming beyond the reach of many, so a growing number of people living in Australia are deciding to ditch the inner city lifestyle for more laidback regional centres around the country.<a href="https://www.australiaforum.com/wp/wp-content/files/2013/09/perth_australia.jpg"></a>
Indeed regional internal migration estimates from the Australian Bureau of Statistics (ABS) highlight some interesting trends about where people are moving to.
According to an analysis of the figures, while several factors have contributed to the gaining rise in city dwellers moving to regional areas, it is affordability that is the main concern.
According to a report from international real estate firm Knight Frank, with the median house price in Sydney nudging the AUD$1 million mark and Melbourne not too far behind at AUD$730,000, people are moving rather than increasing their mortgage.
Over the five years to June 2014, the latest available data shows that an average of almost 15,000 people net per annum left Australia’s capital cities for regional areas. Over this period, the largest outbound movement came from Sydney with average of 19,257 net per annum leaving.
Regional New South Wales experienced the largest inflow, gaining an average of 6,824 persons net per annum, most notably to coastal locations such as Port Macquarie and Shoalhaven.
Over the five year period, Perth and Brisbane were the only capital cities to record an internal migration gain which the report says is reflective of strong employment gains recorded for the period, underpinned by professional services associated with mining construction.
A recent softening in labour market conditions, particularly in Greater Perth, is likely to have stemmed the inflow of internal migrants to these cities while at the same time constraining property market conditions. Alternatively, buoyed net overseas migration has more than offset the decline in internal migration to all capital cities.
By age, the attraction of capital cities due to tertiary education, employment opportunities and the “bright lights” has ensured strong growth of young adults in their late teens and twenties. On average, 13,000 people net per annum aged between 15 to 24 moved to one of Australia’s capital cities.
However for other age groups, particularly those aged 45 to 64 and retired people aged 65 plus, the outbound movement to regional locations has been extensive at 18,505 and 2,685 persons per annum respectively.
“With migration rates acting as a reasonable proxy for housing demand, the pickup in internal migration outside of our capital cities is likely to bode well for regional property markets and economies,” said Luke Crawford, an analyst with Knight Frank Australia.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Why buyers are off to regional Australia: Terry Ryder

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EXPERT OBSERVER
While Victoria and NSW have been hardest hit by the health crisis, Queensland’s job market has fared worst.
The Sunshine State’s unemployment rate was the highest in Australia at 8.8 per cent in July – a 19-year high. And 144,500 jobs were lost between February and July as international and state border closures impacted tourism. 
Of the 20 regions with the highest unemployment rates in the land, Queensland had the highest representation with nine in July. Leading the way was Wide Bay, where the jobless rate rose by 8.2 percentage points - the second most in the nation - to 17 per cent. Next was the Queensland Outback (10.9 per cent), followed by Brisbane’s Moreton Bay South (10.5 per cent), Ipswich (10.1 per cent) and the Sunshine Coast (9.8 per cent). 
But Western Australia also featured prominently. Apart from Mandurah’s nation-topping 18 per cent jobless rate, Perth’s North-West lost the most jobs (-30,200) between February and July. And Western Australia’s unemployment rate of 8.3 per cent is the second highest in Australia - now at 20-year highs. 
Since the economy re-opened from the first virus lockdown in May, most jobs have been added or reinstated in Sydney’s Parramatta (+20,600) and Ryde (+14,600) with the NSW Central Coast (+14,400) the third best performing region. But the data excludes the impact of Victoria’s level four restrictions, which will feature prominently in the August update.
What are the implications for investors? 
After the historic plunge in Aussie jobs due to first virus lockdown in April, the labour market is showing tentative signs of improvement as restrictions are eased and the economy (outside of Victoria) is gradually reopened. 
The July labour force report surprised on the upside, beating economist expectations of an addition of 30,000 jobs. In fact, employment rose in the month by 114,700. 
But the nascent recovery in the job market is incredibly uneven. While Victoria is likely to lose the most jobs because of lockdown 2.0, Queensland and Western Australia - which have both enjoyed more success at containing and suppressing the virus - aren’t faring much better. Queensland is highly dependent on interstate and international tourism. And Western Australia continues to be captive to the fortunes of mining. 
That said, with iron ore prices straddling 6½-year highs on the back of the Chinese industrial-led recovery, the Western Australian economy is well positioned to recover first from the COVID-19 recession. Already 19,100 jobs were added or reinstated in July with skilled job vacancies up by 11.3 per cent. 
NSW is managing to keep Sydney’s virus flare ups at bay for now. NSW - which has lost 134,300 jobs since February - added 56,800 jobs in July. Jobs are returning in Parramatta, Ryde and the nearby NSW Central Coast. But unemployment is high in NSW tourism and retiree ‘lifestyle’ regions, such as Coffs Harbour-Grafton (11.6 per cent) and Newcastle &amp; Lake Macquarie (9.7 per cent). Policymakers certainly have a delicate balancing act addressing disparities in joblessness nationally. 
China’s industrial recovery continues with the country on track to rebound quickest of all major economies from the virus economic contraction. While stimulus is feeding through to construction, manufacturing and infrastructure activity, policymakers remain wary given high debt levels. China’s Loan Prime Rates have been stable - keeping mortgage and corporate lending rates anchored at low levels - but the State Council has said that it will cut rates again to support still-weak domestic demand, if necessary.
Ryan Felsman is a Senior Economist at CommSec
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j.ballantyne1990-6AQqhLzZaK

Double-digit regional unemployment rates: CommSec's Ryan Felsman

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Regional property markets tend to be more resilient compared to their capital city counterparts due to being slightly more insulated from economic shocks, and many Local/State Governments prioritising regional areas growth over the past five years.
For first home buyers and investors, finding an affordable option in capital cities can be challenging. This is especially true as the state average loan only makes up between 51.9% (Sydney) to 76.1% (Brisbane) of the median house price in the capital cities.
The PRD Resilient Regional Areas report highlights affordable regional areas in QLD, VIC, NSW and TAS. These areas not only have median price affordability, but also provide strong indicators for property investment, local employment growth, and a sustainable economic future.
5 selection criteria were used to select the top 12 regional areas:
Affordability – the Local Government Area (LGA) has a median price below the maximum affordable property sale price (average state loan + 20% deposit). Property trends – to ensure statistical reliability, the LGA will have 20 transactions or more in 2018 and 2019, with positive price growth within that time period. Investment – to ensure solid investment opportunities, the LGA will have an on-par or higher rental yield than its capital city, as well as an on-par or lower vacancy rate compared to its capital city. Project development – the LGA will have a high estimated value of future project development, with a higher concentration of commercial and infrastructure projects to ensure a positive economic outlook. Unemployment rate – as of the December Quarter 2019, the LGA will have an on-par or lower unemployment rate than the state average, to ensure there is local job growth.
<div>Based on the above methodology and selection criteria, the following 12 regional locations were deemed to be ‘resilient regions’ with solid fundamentals for sustainable future growth.</div>
<ol>
<li>Douglas Shire (QLD)</li>
<li>Cairns Region (QLD)</li>
<li>Tablelands Region (QLD)</li>
<li>Livingstone Shire (QLD)</li>
<li>Upper Hunter Shire (NSW)</li>
<li>Singleton Area (NSW)</li>
<li>Greater Hume Region (NSW)</li>
<li>Greater Bendigo City (VIC)</li>
<li>Moyne Shire (VIC)</li>
<li>Bass Coast Shire (VIC)</li>
<li>South Gippsland Shire (VIC)</li>
<li>Kentish Municipality (TAS)</li>
</ol>
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Where are the most resilient regional areas in Australia? PRD Real Estate

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GUEST OBSERVATION
Rural and regional Australia is a big place – too big to be contained in one rural policy or represented by a single political party.
Several features of contemporary rural and regional Australia stand out, though, as deserving of serious policy attention.
The Indigenous estate
Indigenous peoples are among rural and regional Australia’s largest landholders. <a href="http://www.nntt.gov.au/Maps/Determinations_map.pdf" target="_blank">Native title rights are recognised</a> on more than 37% of the Australian landmass. Exclusive possession native title applies to around 13%. Both these numbers will grow.
The cultural and social significance of the Indigenous estate is immense. So too is its economic significance. Aboriginal and Torres Strait Islander enterprises are active in agriculture, mining, infrastructure development, land and water management, and protected area management.
Governments have taken some positive steps to assist Indigenous enterprise. Changing procurement policy to encourage local suppliers is an excellent example. This must be seen in the context, however, of the missteps of the <a href="https://www.anao.gov.au/work/performance-audit/indigenous-advancement-strategy" target="_blank">Indigenous Advancement Strategy</a> and failure to engage with the <a href="https://www.1voiceuluru.org/what-happened-next/" target="_blank">Uluru Statement from the Heart</a>.
Respecting Aboriginal and Torres Strait Islander aspirations for sovereignty and “closing the gap” on health, safety, education and employment are not mutually exclusive. Indeed, finance, insurance and business models that are relevant to the collective and enduring nature of native title rights will go a long way towards realising the economic potential of the Indigenous estate.
<a href="https://images.theconversation.com/files/258446/original/file-20190212-174857-qdk0nc.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/258446/original/file-20190212-174857-qdk0nc.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Native Title determinations as at December 31 2018. Native Title exists in green areas (darker green denotes exclusive title) and does not exist in brown areas (lighter brown denotes title extinguished). <a class="source" href="http://www.nntt.gov.au/Maps/Determinations_map.pdf" target="_blank">National Native Title Tribunal</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
New labour markets
Agriculture, mining and other resources industries contribute mightily to Australia’s GDP. Yet their contribution to employment is comparatively small.
In 2016, agriculture, forestry and fishing accounted for 215,601 <a href="https://profile.id.com.au/australia/industries?EndYear=2006&amp;DataType=UR&amp;WebID=245" target="_blank">jobs in regional Australia</a>. Mining provided 102,639 jobs. By contrast, health care and social assistance provided 445,087 jobs, retail 341,190, construction 292,279, education and training 291,902 and accommodation and food services 253,501.
Health care and social assistance and education and training contributed more new regional jobs over the last decade than any other industry.
This is not about commodity price cycles and their short-term impact on labour demand. It is about the relentless substitution of labour with technology as business owners strive to lift productivity and lower costs. Advances in automation and telecommunications will accelerate this trend.
The policy imperative is not to ignore resource industries or the workers who depend on them, but to face up to structural change in the labour market.
It is not unreasonable for regions hit by job losses following mine or plant closures to look for new projects to fill the void. But it is important to recognise that fewer jobs will be on offer in the resources industries. And these jobs will require higher levels of skills and training.
Maintaining high employment across non-metropolitan regions will depend, ultimately, on continued growth in other industries.
Climate action
In the land of drought and flooding rain, climate variability is a given.
Managing for that variability is something we need to do better, even before taking climate change into account. The South Australian <a href="https://www.mdbrc.sa.gov.au/sites/default/files/murray-darling-basin-royal-commission-report.pdf?v=1548898371" target="_blank">Murray-Darling Basin Royal Commission into water use</a> shows that political commitment to cross-border cooperation and the maintenance of environmental flows is fragile.
What evidence we do have on rural and regional Australians’ beliefs about climate change suggests uncertainty and lack of trust in government are <a href="https://doi.org/10.1080/08941920.2012.686650" target="_blank">more prevalent than outright denial</a>. A <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/pdf/10.1177/0963662512449948" target="_blank">precautionary approach</a> to climate is favoured over business as usual.
Why a precautionary approach? Because <a href="https://acola.org.au/wp/PDF/SAF07/social%20and%20political%20context.pdf" target="_blank">failure to act on climate presents a number of risks</a>. These include:
<ul>
<li>reduced market access for regions and industry sectors not seen to be reducing emissions</li>
<li>failure to develop cost-effective and industry-specific technologies for reducing greenhouse gas emissions</li>
<li>lost opportunities to develop markets in carbon sequestration</li>
<li>escalating economic and social impacts on rural and regional communities as climate variability increases.</li>
</ul>
Importantly, only the last of these risks is actually contingent on climate change.
Transition planning
The sustainability challenges facing rural and regional Australia are not solely environmental.
In the 21st century, industries require stable, high-speed telecommunications infrastructure. That’s no less true of agriculture and mining than it is of tech start-ups and e-retailers. Unfortunately, the <a href="https://theconversation.com/will-australias-digital-divide-fast-for-the-city-slow-in-the-country-ever-be-bridged-60635" target="_blank">digital divide</a> between urban and rural Australia is a significant constraint on innovation.
The industries of the 21st century also require stable and responsive institutional and governance infrastructure.
The rural politics we see reported in the media looks every bit as polarised and resistant to change as anywhere. Yet Australia’s best rural policies have always been the result of collaborative approaches to planning and innovation.
Landcare and regional natural resource management programs stand out for the positive relationships they have built across the agriculture, conservation, industry and Indigenous sectors.
While federal and state infrastructure funding is critical for the regions, so too is support for integrated and collaborative planning. <a href="https://www.cleangrowthchoices.org/" target="_blank">Place-based approaches</a> are not a panacea but it is always in specific places, and specific communities, that business, services, natural resource management, energy, transport and telecommunications infrastructure, and so on, come together.
Electoral diversity
Social conservatism, support for traditional rural industries and scepticism about climate change are all highly visible in rural politics today.
I have outlined some of the risks arising from climate scepticism, but contemporary social conservatism carries political risks too.
Most obvious is the alienation of voters who do not share these views. They include:
<ul>
<li>
<a href="https://www.farmersforclimateaction.org.au/" target="_blank">farmers</a> who want meaningful action on climate</li>
<li>lifestyle migrants with no historical loyalty to the National Party</li>
<li>young people with more socially progressive attitudes.</li>
</ul>
It is worth remembering that in the plebiscite on marriage equality <a href="http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/1800.0%7E2017%7EMain%20Features%7EResponse%20map%7E17" target="_blank">most rural and regional electorates took the progressive option and voted yes</a>.
Aboriginal and Torres Strait Islander voters warrant extra attention. <a href="https://www.themonthly.com.au/issue/2012/october/1349327287/marcia-langton/comment-it-s-knockout" target="_blank">Indigenous voters have swung elections in the Northern Territory</a> with their preference for candidates who respect local leadership and priorities over traditional party allegiances and ideologies. Candidates for any seat with a large Indigenous population ignore these voters at their peril. As the <a href="https://aec.gov.au/Indigenous/" target="_blank">Australia Electoral Commission</a> works to lift the Indigenous vote, this influence will grow.
In sum, the issues that matter to rural and regional Australians are far more diverse than those discussed here. Many will disagree with how I have represented one or other issue. That, really, is the point.<img src="https://counter.theconversation.com/content/110971/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;">
Stewart Lockie, Director, The Cairns Institute, James Cook University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/people-and-issues-outside-our-big-cities-are-diverse-but-these-priorities-stand-out-110971" target="_blank">original article</a>.
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People and issues outside our big cities are diverse, but these priorities stand out: Stewart Lockie

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GUEST OBSERVATION
Governments change priorities all the time. Some argue governments will focus on developing regional areas at one point in time and then refocus on major cities at another.
Our research shows that there are cycles in how much priority governments attach to regional issues. But these fluctuations are overshadowed by a larger, long-term trend towards greater involvement with regional communities.
Our findings show that regional Australia matters more today than it has at any other time since the 1940s.
Cycles of regional commitment
Inattention to particular constituencies can be costly. Victoria’s Kennett government lost office in 1999, when regional communities such as Ballarat and Bendigo became disillusioned with what they saw as a Melbourne-centric government.
This was a time when governments in other states, and nationally, were paying more attention to regional voters, with the Howard Coalition government nervously watching One Nation as a growing political force. In Queensland, the pressure was more acute, with a few regionally focused conservative politicians claiming seats in parliament.
Appointing a minister with regional responsibilities is one clear marker of intent in the government of the day. John Sharp, the Howard government’s first minister for transport and regional development, released a budget statement with 19 major investments in regional areas. These included money for drought assistance, rural roads, and counselling and support services for young people and families.
There are now six ministers and one parliamentary secretary for regional development in Australian parliaments. Bridget McKenzie (federal), Michael McCormack (federal), Tim Whetstone (South Australia), Jaclyn Symes (Victoria), John Barilaro (New South Wales), Alannah MacTiernan (Western Australia) and Mark Shelton (Tasmania) are the most recent expression of a trend that started almost 30 years ago.
<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/2019/2/21/regional%201%20.jpg" alt="">
Our research
We examined all state and Australian government gazettes from 1939 to 2015 to find out how many “regional” ministers were in place over time. Our criteria were for the term “regional” to be in the title and for the representative to have responsibilities associated with improving the well-being of rural and remote communities.
We then used our data to develop an index, in which we gave a score of 1 for each month in the year where an identifiable regional minister held office.
For each jurisdiction the maximum possible score in any year was 12. For Australia, with six states and one federal government, the maximum possible score was 84.
<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/2019/2/21/regional%202.jpg" alt="">
Our results, in the table above, came as a surprise. It is clear that political engagement with the regions has grown rapidly since the late 1980s.
Previous research has suggested the 1940-1960s period was one of strong governmental commitment to the regions. This was reflected in announcements on the need to “decentralise” the population.
But our data suggest the notion of a “golden era” of regional policy and government support prior to the 1970s is misplaced.
Nation-wide policies in support of agriculture, mining or infrastructure development supported regional communities. But the well-being of these places was not the primary goal.
From 1972 to 1975, the Whitlam government was committed to addressing inequalities associated with where people live. This brought fresh enthusiasm for regional portfolios in state governments, but that tide quickly waned as the political climate changed.
Australian governments did not begin to appoint regional ministers as a matter of course until the late 1980s. This was a period linked to the end of old-fashioned, class-based politics and the rise of our more complex political landscape.
The trend has continued since and the presence of the six regional ministers and one parliamentary secretary in the halls of political power means there has never been a better time for regions to lobby governments.
There are now more ministers than ever before ready, able and willing to receive delegations and advocate for country towns, rural industries and remote Australia.
This means regional leaders have an opportunity to be heard in the run-up to the NSW and federal elections. The challenge is to determine the key messages and how they should be delivered.
Andrew Beer, Dean, Research and Innovation, University of South Australia, University of South Australia.
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Regional Australia is calling the shots now more than ever: Andrew Beer

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EXPERT OBSERVATION
The number of properties that sell within a given year accounts for a very small portion of the overall market and has trended even lower over recent years. Over the 12 months to July 2018, 4.6 per cent of national dwellings transacted, down from 5.3 per cent a year ago. 
The more pronounced decline in turnover rates over the year to July is hardly a surprise given current market conditions, with dwelling values softening each month now for the past 12 months; coupled with the lowest levels of new stock being added to the market seen since 2012 over the past 6 months, as confidence wanes and homes take longer to sell. However, the long term trend can be attributable to a variety of factors and will differ between each of the regions. 
Housing affordability has likely had a large impact on the broader downward trend in turnover rates, where the likes of Sydney and Melbourne would have weighed heavily, given the high growth seen across these larger markets relative to only mild growth in household incomes. Fifteen years ago the dwelling price to income ratio as a national figure showed that dwelling prices were 5.1 times as high as the gross household income, while recent data shows this has increased to 6.8. In Sydney and Melbourne, where affordability has been a challenge for prospective buyers for some time, the price to income ratio sits at 9.1 and 8.1 respectively. In turn, what can been seen as housing has become less affordable across some capital city markets, regional areas have benefitted from the flow-on effect for being the more affordable option.
In addition, the high transactional cost to both purchase and sell property has likely added a further barrier to housing market participation. From the sell side there are marketing costs, agent fees and commission, legal costs and potentially some costs associated with getting the property ready to present to market. From the buy side, stamp duty costs as percentage of the purchase price are a major barrier to entry, especially in the more expensive markets as well as the costs associated with building and pest inspections and conveyancing.  
More recently, credit rationing has provided an additional dampening effect on housing activity.
<img src="https://www.corelogic.com.au/sites/default/files/2018-10/20181018_turnover_regional_vs_capital_city.jpg" alt="CoreLogic Turnover regional vs capital city" width="2016" height="1389">
Given the potential differences across each market, the analysis takes a look at turnover across each of the state’s capital city and non-capital city regions, including the top 5 council area’s across each state where the largest proportion of dwellings sold over the year.
Over the 12 months to July, 4 out of 7 of the rest of state regions recorded a higher level of turnover compared to their capital city counterpart. This was most prevalent across NSW, where Australia’s most expensive property market of Sydney saw a turnover rate of 4.1%, while outside of the metro area, turnover was at a considerably higher level with 5.6% of the market transacting over the year. 
The regional area of Tasmania saw the highest level of turnover of all regions with 6.1% of total dwelling turnover, while the lowest turnover levels were in WA (Perth 3.3%, Rest of WA 3.3%) and Darwin (3.5%).  Unsurprisingly, regional Tasmania has been one of the strongest housing markets for capital gains, with values up 8.1% over the past twelve months, while areas of Western Australia and Darwin have been amongst the weakest markets with dwelling values down materially since peaking in 2014.
<img src="https://www.corelogic.com.au/sites/default/files/2018-10/20181018_turnover_by_state.jpg" alt="CoreLogic Turnover by state" width="2600" height="1278">
<h3>Top 5 Council Regions by State – Highest Turnover </h3>
All top 5 NSW council regions with the highest rate of turnover were in non-capital city regions, topping the list with 8.5% of housing stock transacting over the year was Tumbarumba, followed by Dungog where 7.9% of total dwellings sold over the 12 months to July 18. Coming in equal third place was Upper Lachlan Shire and Palerang with a turnover rate of 7.7%. It should be noted that these regions all have shallow overall stock levels, with less than 5,000 dwellings across each of these council areas. 
3 of the 5 NT council regions were in the Greater Darwin capital city region, although it was regional Alice Springs that recorded the highest rate of yearly turnover with 4.9% of dwellings transacting over the 12 months to July 18. Katherine, located outside of the main capital city region was next on the list with a 4.0% rate of turnover. The remaining 3 capital city regions making up the top list all saw less than 4% of housing stock sell over the year, with NT council regions showing the lowest turnover rates out of the national list.
Regional area’s dominated the top 5 list in QLD; comprising mostly of lifestyle coastal regions where dwelling values have been rising over the last 12 months. Noosa saw the largest proportion of housing turnover over the 12 months to July 18 (7.4%), while further south on the Gold Coast, 7.2% of housing sold over the same period, however the Gold Coast council area covers a much larger geography with over 253,045 dwellings in the region. The Sunshine Coast where housing stock is also considerably higher saw a 6.9% rate of turnover over the year, while 6.3% of total dwellings transacted in both Gympie and Douglas.
4 out of 5 of the SA council regions were in regional areas of the state. Robe had the highest turnover at 7.2%, followed by Mount Gambier (6.7%) and Victor Harbor (6.6%).  While Alexandrina saw 6.2% of dwellings sell over the year, which was slightly lower the capital city region of Campbelltown (6.3%). 
Latrobe in regional Tasmania came in with the highest level of turnover over the year, with 7.4% of total dwellings transacting. The remaining 4 regions came in equal 2nd place with 7.3% of total housing turnover over the 12 months of July, this was across both capital city and regional areas of the state.
In VIC, the top 2 council regions with the highest turnover were in the main capital city region, where Wyndham saw 6.3% of properties sell over the year, followed by Cardinia with a turnover rate of 6.2%. The remaining 3 council regions making the highest turnover list were all in regional VIC, where Latrobe and Baw Baw both recorded a rate of turnover at 6%, while the Bass Coast saw 5.9% of dwellings sell over the 12 months to July 18.
Interestingly, WA’s top turnover area’s over the year were in the mining regions of Port Hedland, Karratha and East Pilbara, given values across these regions saw considerable declines coming out of the mining boom 10 years ago, resulting in less housing turnover; recent years have seen transaction levels increase and declines in the region ease. The capital city areas of Mandurah and Claremont were also on the list where 4.1% and 4.0% of dwellings transacted over the year respectively.
<img src="https://www.corelogic.com.au/sites/default/files/2018-10/20181018_highest_turnover_rates.jpg" alt="CoreLogic Highest Turnover Rates" width="767" height="1205"> 
Analysis includes council region data count of total sales as a percentage over total dwellings over the 12 months to July 2018. Suburbs with less than 1000 total dwellings excluded from the analysis.
Jade Harling is a Research Analyst for CoreLogic
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Regional Australia records highest turnover ratio this year: CoreLogic

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A Charters Towers City, Queensland property has been listed for sale with $50,000 hopes.
It was listed for mortgagee sale by the agent Kym Whelan from Geaney's Real Estate.
It last traded at $183,000 in 2009, and at $74,000 in 2006 and $56,000 in 2004.
<a href="https://www.realestate.com.au/property-house-qld-charters+towers+city-127434326" target="_blank">The 3 Regent Street house</a> comes with three bedrooms, two sheds and an outdoor entertaining area.
The land size is 941 square metres. It had a $52,000 official land value in 2015.
According to CoreLogic, the suburb's median house price sits on $121,000.
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Charters Towers City, Queensland mortgagee property listed for $50,000

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Airbnb is not just a city phenomenon, with a recent survey released by the peer-to-peer accommodation platform showing that more than half of its bookings in Australia are now for stays in country towns or coastal ­resorts.
Australia is the only major country in the world where ­regional Airbnb stays surpassed city bookings last year, according to a report in The Australian.
Regional stays comprised 56 per cent, or 1.7 million guest ­arrivals, last year, the survey said.
Popular regional destinations included Cairns, Noosa and the Gold Coast in Queensland, Byron Bay in NSW, the Great Ocean Road in Victoria, Margaret River in Western Australia, and Robe, Victor Harbor and Kangaroo Island in South Australia, according to The Australian.
Regional Australian getaways are more popular with locals, who take mini-breaks during long weekends to head out to the country and book a stay through Airbnb, unlike the trend in cities where it’s mostly foreign visitors.
Meanwhile, Airbnb continues its march in Sydney, with entire home listings expected to grow to 44,000 following an announcement by the NSW government that it supports short-term letting in state, short-term rental management service MadeComfy said recently.
As an illustration of the popularity of the platform in regional Australia, an entire cabin '<a href="https://www.propertyobserver.com.au/https://www.airbnb.com.au/rooms/7042427?location=Kangaroo%20Island%2C%20South%20Australia&amp;s=oDY6G4ID#neighborhood" target="_blank">The Dolls House</a>' in the township of Kingscote in Kangaroo Island is available for $85 a night. The cabin has all amenities like kitchen, shower and toilet etc. 
The ad has 85 reviews.
<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/2017/07/05/Dolls1.jpg" alt=""> 
Property Observer also found a <a href="https://www.propertyobserver.com.au/https://www.airbnb.com.au/rooms/4874403?location=Byron%20Bay%2C%20New%20South%20Wales&amp;s=-GrnLeIw%20" target="_blank">bungalow in Byron Bay</a> in NSW that is close to the beaches. The entire home can be rented out for $115 per night.
According to host Lainie, the bush setting is only a few minutes drive from the beaches.  
<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/2017/07/05/Byron.jpg" alt="">
 
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prateek24-ezbwHMbNAk

Airbnb bookings in regional Australia surpass cities

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<img src="https://counter.theconversation.edu.au/content/78464/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Rather than propping up failing industries, what if government instead provided incentives like tax breaks for expanding firms to locate in regional centres? This would help policymakers avoid a retreat to protectionism while also going some of the way to addressing rising inequality in Australia.
So far in response to failing industries, policymakers have often tried to prop those industries up. They have also spent some money on retraining, provided some small subsidies for relocation, and tried to make education of young people a little more suited to the globalised economy. In short, that’s not enough.
It has led to a bigger economic pie — to be sure. But is has also led to rising inequality. Those with with in-demand skills have seen rising wages. Some of those without such skills have adapted or retrained. But many have never recovered from the advent of globalisation. And it has led to the political arrival of Brexit, Trump and Le Pen. So far.
A retreat to old-style protectionism and industry policy would be a disaster. It would be the economic equivalent of stopping a speeding freight train dead in its tracks. Yet the current approach is not working, and the anti-globalist forces it fuels might be just as bad.
Protect my job
Twelve years ago, Thomas Friedman’s worldwide best seller The World is Flat was published. Friedman emphasised the inevitability of globalisation, while acknowledging that there were winners and losers. 
Yet he argued that the best way to combat the downsides of globalisation was to make the workforce more adaptable though reskilling, more mobile through portability of healthcare and retirement benefits, and more prepared though an emphasis on science, technology, engineering and math disciplines.
That same year Friedman’s book came out, he co-taught a freshman class at Harvard College with economist and university President Larry Summers, and philosopher Michael Sandel. We were PhD students then and the other day we dug out the final exam. The first question on was: 
“From an economic point of view, the case for open immigration is as strong as the case for free trade and capital flows.” Do you agree or disagree? Whether you agree or disagree, would you say that non-economic considerations strengthen or weaken the case for open immigration, free trade, and capital flows?
Twelve years, it turns out, is a long time in globalisation.
Today, in the age of Trump, we live in a world of walls, rising inequality, and protectionism. Forget open immigration, free trade is very much up for grabs.
Last month, President Trump issued an executive order titled Buy American and Hire American, Bill Shorten has been quoted saying “We will buy Australian, build Australian, make in Australia and employ Australians”. The Coalition government — when not closing our borders to foreign talent — is busy impersonating Willie Sutton and taxing banks “because that’s where the money is”.
To be fair, economists shoulder some of the blame for this anti-globalisation turn. The mantra has always been that free trade maximises the size of the economic pie, allowing society to slice it up in a way that makes everyone better off.
If only it were that easy. In practice, jobs disappear. Sometimes whole industries, and towns. 
Re-slicing the pie through cash handouts are problematic. It requires vast amounts of money, doesn’t solve the geographic problems of dying towns, and most importantly it doesn’t provide people with the dignity and sense of purpose that a job does.
Similarly, retraining and reskilling a 55 year-old steel worker to prepare for the gig economy is, well, really hard. But there is an alternative.
A focus on towns not industries
Rather than prop-up failing industries, we should provide incentives, like tax breaks, for expanding firms to locate in regional centres. These could involve lower corporate tax rates, abolishing payroll tax, and immediate deductibility of capital investment. Sometimes it might involve loan guarantees.
The money should go to towns instead because they are a point of coordination in a way that industries are not. If a good size business locates in a town then people locate there. 
Those paychecks drive other local jobs, which drive more people. This, in turn drives more local businesses, local vibrancy, and so on. Towns can be the centrepiece of a virtuous circle of coordination. Industries are important but they are, well, just industries.
At one level, policymakers can’t get away from the “towns problem”. The workers in rural and regional areas who are affected by globalisation aren’t easily moved for numerous reasons, yet not every town can be saved. Figuring out which ones can, through the infusion of new commercial activity, is the key to providing hope for the victims of globalisation.
This approach is not entirely without precedent. China, has made development of new cities a centrepiece of its economic development planning, with numerous very large cities built and infrastructure fully established before residents ever arrive. For instance, the Chinese government recently announced the Xiongan New Area, a city three times the city of New York, to be built near Beijing.
Now, China does this because of population growth, urbanisation pressures, and environmental concerns. Yet it demonstrates the merits, and feasibility, of making the town the centre of policy. Government should be focusing on what it takes to make a town succeed, rather than what it takes to make an industry survive a little longer. 
Adding to these imperatives, Australia is beset by a housing affordability crisis driven by absurd tax breaks like negative gearing that artificially fuel demand, but also by serious supply constraints. Barnaby Joyce’s admonition to move out of capital cities would be made much more compelling by the influx of new businesses and new capital to regional towns. A “picking towns” policy could make housing more affordable across the board.
The side effects of globalisation that have led to our current populist politics will not be successfully addressed by old-style industry policy. But focusing on the aggregate benefits of globalisation is also not working. We need to redistribute those benefits by focusing on regions that can succeed, and breathing new economic life into them.
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a> is professor of Economics and PLuS Alliance Fellow, UNSW.
<a href="https://theconversation.com/profiles/rosalind-dixon-178450" target="_blank">Rosalind Dixon</a> is professor of Law, UNSW.
Both are authors for The Conversation.
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