We’re Spending Billions on This Work-From-Home Indulgence
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,631,496 (-0.19%)       Melbourne $1,013,505 (-0.12%)       Brisbane $1,047,775 (+0.83%)       Adelaide $921,280 (-2.62%)       Perth $932,574 (+1.02%)       Hobart $752,170 (+0.40%)       Darwin $762,623 (-0.40%)       Canberra $974,279 (+0.45%)       National $1,070,452 (-0.09%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $764,006 (+0.68%)       Melbourne $487,026 (-0.03%)       Brisbane $655,410 (+0.22%)       Adelaide $490,754 (+0.33%)       Perth $520,506 (+0.88%)       Hobart $539,202 (+0.51%)       Darwin $389,366 (-1.02%)       Canberra $511,199 (+1.66%)       National $565,901 (+0.53%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 9,306 (+422)       Melbourne 12,578 (-41)       Brisbane 7,318 (+116)       Adelaide 2,189 (+95)       Perth 7,000 (-246)       Hobart 1,154 (-23)       Darwin 177 (-3)       Canberra 954 (+19)       National 40,676 (+339)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 7,721 (+169)       Melbourne 7,334 (-82)       Brisbane 1,468 (+63)       Adelaide 338 (+3)       Perth 1,606 (-29)       Hobart 198 (-13)       Darwin 260 (-10)       Canberra 1,091 (+3)       National 20,016 (+104)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $790 ($0)       Melbourne $600 (+$10)       Brisbane $650 ($0)       Adelaide $620 ($0)       Perth $680 ($0)       Hobart $560 (+$10)       Darwin $760 (-$20)       Canberra $700 (+$10)       National $678 (-$)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $580 ($0)       Brisbane $650 ($0)       Adelaide $510 (+$10)       Perth $650 ($0)       Hobart $470 (+$8)       Darwin $590 ($0)       Canberra $580 ($0)       National $609 (+$1)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,824 (+654)       Melbourne 8,433 (+712)       Brisbane 4,716 (+518)       Adelaide 1,605 (+168)       Perth 2,384 (+239)       Hobart 240 (+17)       Darwin 140 (+2)       Canberra 696 (+78)       National 25,038 (+2,388)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 11,233 (+841)       Melbourne 7,932 (+549)       Brisbane 2,419 (+20)       Adelaide 424 (+76)       Perth 684 (+163)       Hobart 101 (+9)       Darwin 254 (+7)       Canberra 733 (+54)       National 23,780 (+1,719)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.52% (↑)      Melbourne 3.08% (↑)        Brisbane 3.23% (↓)     Adelaide 3.50% (↑)        Perth 3.79% (↓)     Hobart 3.87% (↑)        Darwin 5.18% (↓)     Canberra 3.73% (↑)      National 3.29% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.10% (↓)     Melbourne 6.19% (↑)        Brisbane 5.16% (↓)     Adelaide 5.40% (↑)        Perth 6.49% (↓)     Hobart 4.53% (↑)      Darwin 7.88% (↑)        Canberra 5.90% (↓)       National 5.59% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 2.0% (↑)      Melbourne 1.9% (↑)      Brisbane 1.4% (↑)      Adelaide 1.3% (↑)      Perth 1.2% (↑)      Hobart 1.0% (↑)      Darwin 1.6% (↑)      Canberra 2.7% (↑)      National 1.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 2.4% (↑)      Melbourne 3.8% (↑)      Brisbane 2.0% (↑)      Adelaide 1.1% (↑)      Perth 0.9% (↑)      Hobart 1.4% (↑)      Darwin 2.8% (↑)      Canberra 2.9% (↑)      National 2.2% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 35.4 (↑)      Melbourne 35.6 (↑)      Brisbane 36.5 (↑)      Adelaide 31.6 (↑)      Perth 41.2 (↑)      Hobart 36.5 (↑)        Darwin 44.2 (↓)     Canberra 35.0 (↑)      National 37.0 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 39.8 (↑)      Melbourne 35.9 (↑)        Brisbane 32.9 (↓)     Adelaide 31.6 (↑)      Perth 42.3 (↑)      Hobart 40.0 (↑)      Darwin 35.7 (↑)        Canberra 39.8 (↓)     National 37.3 (↑)            
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We’re Spending Billions on This Work-From-Home Indulgence

Without the boss nearby, who can resist placing that Amazon order?

By RACHEL FEINTZEIG
Tue, May 21, 2024 8:40amGrey Clock 4 min

Click. Scroll. Add to cart. Now toggle back to that Zoom meeting.

On our remote days, it turns out, we shop while we work. Researchers say it’s driving billions in online sales. There we all are, browsing everything from toothpaste to concert tickets while nodding along on a video call , keying in credit-card info in between dashing off emails to the boss.

Shopping away our entire workday is obviously a bad move. But indulging in a little isn’t going to tank productivity. We pause and procrastinate at the office, too, in ways that are acceptable there. At home, we gather around clothing reviews like we’re hanging out at the office water cooler, and tick errands off our list via Target.com.

With no one looking over our shoulders, we can puncture the monotony of another vanilla workday with the dopamine high of finding the perfect pair of shoes. Even if we might sometimes regret it.

“I wouldn’t have bought this stupid thing if it weren’t for All Hands,” Megan Morreale , a content marketer in New Jersey, thought to herself after purchasing an influencer’s branded candle during a companywide meeting. Bored or between calls, the 32-year-old scrolls Instagram, TikTok and YouTube. Days later, subpar art supplies or a viral dress that really doesn’t suit her land on her doorstep. Oh well.

“It’s a little bit of fun during the day,” she says, without the fear you’ll look like a slacker At the office, she would never. “All the guilt is completely gone when you work from home.”

A $375 billion boost

Our collective retail therapy adds up. New research from Stanford University, Northwestern University and the Mastercard Economics Institute, the payments company’s research arm, finds the pandemic prompted a rise in online shopping that’s persisted. Last year, for example, we spent $375 billion more than we would have otherwise, the report estimates.

The brunt of that bump is being driven by people working hybrid or fully remote schedules, says Nick Bloom , a Stanford economist and co-author. County-level data shows that in areas where work-from-home jobs are prevalent, online shopping is up, while it’s back to pre pandemic levels in places where more folks work in-person.

Along with walking the dog and getting a jump on dinner, workday shopping is a way to make efficient use of our time, Bloom says, and take advantage of the fact that we have more control over it at home.

“People just can’t work continuously without taking a break,” he says.

Get away without leaving your desk

At home, there’s freedom and time, but also often inertia.

“There’s no coffee break, there’s no somebody’s birthday,” says Ace Bhattacharjya , chief executive of a company that helps folks access their medical records.

Instead, there’s perusing a limited-edition sneaker drop, or collectible figurines on eBay, Bhattacharjya says, recalling some of his recent scrolling. Everything in stores looks the same these days, he finds, but online he can jump down a rabbit hole into random micro communities and inspiration. Turning his attention from the work on his computer monitor to e-commerce on his iPad Pro gives him a jolt of creativity and energy.

Besides, the lines between work and everything else have grown hazy. Bhattacharjya’s hours bleed into the weekends. That can feel like permission to wedge some personal stuff into the workweek.

Ooh, a sale!

Weekly online spending peaks from 10 a.m. to 1 p.m. on Fridays , as the workweek slows to its languorous end, data from Adobe shows. More than a quarter of women surveyed last year by shopping portal Rakuten said they typically shop online during work hours. For Gen Z, the share was 41%.

Jenny Hirschey , who runs an Instagram jewellery shop from St. Paul, Minn., was surprised to find about 80% of her sales are made during the workday.

“I get comments all the time like, ‘I’m running to a meeting but this heart charm is mine! Sold! I’ll pay you in 30 minutes,’” she says.

Big retailers have noticed the trend, too, says Liza Amlani , a retail consultant and adviser based in Toronto who’s worked with companies like Under Armour and Lands’ End.

Some of her clients are timing things like product drops and marketing emails around noon or 3 p.m.

“We know that you’re on your computer,” captive and craving a pick-me-up, she says.

Retailers have also ramped up their investments in online tech, and are flooding their websites with more product, she adds. Algorithm-powered recommendations are getting so powerful it can feel like they know your subconscious desires before you do. Oh, and did you forget about that item you halfheartedly popped in your cart? Here’s 20% off.

“You’re getting so much more of that reminder and that call to buy,” says Nancy Wong , a consumer psychologist at University of Wisconsin-Madison.

The seduction of online shopping

Bricks-and-mortar browsing comes with unknowns and annoyances: traffic en route, long lines at the store, finding out what you want isn’t in stock.

In contrast, Wong says, clicking the buy button online brings a satisfying certainty, and a double hit of pleasure. There’s the immediate high of plucking the item from the virtual shelf—then, the anticipation of its arrival. Sure, that gadget might be a flop once it gets here. But it’s on its way.

“It’s so seductive,” says Michelle Drapkin , a therapist in New Jersey who works a hybrid schedule.

When she worked for a big healthcare company years back, she’d never dream of pulling up Amazon on her office computer.

On her work-from-home days now, she’ll sometimes flop on her bed with a laptop and check purchases off her to-do list. It’s relaxing, she says. “I can do something different than work that’s still productive.”

Some purchases, like groceries, keep her household running. Others, like a new dress for a Kentucky Derby party, feel like a treat.

By the time the purchase arrives, though, she’s usually forgotten what’s inside the box.



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China Pumps Up Support for Country’s Stock Markets

The latest round of policy boosts comes as stocks start the year on a soft note

By TRACY QU
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China’s securities regulator is ramping up support for the country’s embattled equities markets, announcing measures to funnel capital into Chinese stocks.

The aim: to draw in more medium to long-term investment from major funds and insurers and steady the equities market.

The latest round of policy boosts comes as Chinese stocks start the year on a soft note, with investors reluctant to add exposure to the market amid lingering economic woes at home and worries about potential tariffs by U.S. President Trump. Sharply higher tariffs on Chinese exports would threaten what has been one of the sole bright spots for the economy over the past year.

Thursday’s announcement builds on a raft of support from regulators and the central bank, as officials vow to get the economy back on track and markets humming again.

State-owned insurers and mutual funds are expected to play a pivotal role in the process of stabilizing the stock market, financial regulators led by the China Securities Regulatory Commission and the Ministry of Finance said at a press briefing.

Insurers will be encouraged to invest 30% of their annual premiums earning from new policies into China’s A-shares market, said Xiao Yuanqi, vice minister at the National Financial Regulatory Administration.

At least 100 billion yuan, equivalent to $13.75 billion, of insurance funds will be invested in stocks in a pilot program in the first six months of the year, the regulators said. Half of that amount is due to be approved before the Lunar New Year holiday starting next week.

China’s central bank chimed in with some support for the stock market too, saying at the press conference that it will continue to lower requirements for companies to get loans for stock buybacks. It will also increase the scale of liquidity tools to support stock buyback “at the proper time.”

That comes after People’s Bank of China in October announced a program aiming to inject around 800 billion yuan into the stock market, including a relending program for financial firms to borrow from the PBOC to acquire shares.

Thursday’s news helped buoy benchmark indexes in mainland China, with insurance stocks leading the gains. The Shanghai Composite Index was up 1.0% at the midday break, extending opening gains. Among insurers, Ping An Insurance advanced 3.1% and China Pacific Insurance added 3.0%.

Kai Wang, Asia equity market strategist at Morningstar, thinks the latest moves could encourage investment in some of China’s bigger listed companies.

“Funds could end up increasing positions towards less volatile, larger domestic companies. This could end up benefiting some of the large-cap names we cover such as [Kweichow] Moutai or high-dividend stocks,” Wang said.

Shares in Moutai, China’s most valuable liquor brand, were last trading flat.

The moves build on past efforts to inject more liquidity into the market and encourage investment flows.

Earlier this month, the country’s securities regulator said it will work with PBOC to enhance the effectiveness of monetary policy tools and strengthen market-stabilization mechanisms. That followed a slew of other measures introduced last year, including the relaxation of investment restrictions to draw in more foreign participation in the A-share market.

So far, the measures have had some positive effects on equities, but analysts say more stimulus is needed to revive investor confidence in the economy.

Prior enthusiasm for support measures has hardly been enduring, with confidence easily shaken by weak economic data or disappointment over a lack of details on stimulus pledges. It remains to be seen how long the latest market cheer will last.

Mainland markets will be closed for the Lunar New Year holiday from Jan. 28 to Feb. 4.

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11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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