Why we're working anywhere but the office
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    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,630,107 (-0.64%)       Melbourne $993,269 (-0.02%)       Brisbane $1,042,360 (-1.79%)       Adelaide $930,845 (-1.38%)       Perth $915,565 (-0.55%)       Hobart $755,926 (-0.53%)       Darwin $719,519 (+0.64%)       Canberra $977,431 (+0.32%)       National $1,064,602 (-0.64%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $758,442 (-0.87%)       Melbourne $497,155 (-0.57%)       Brisbane $633,818 (+0.55%)       Adelaide $498,038 (+0.46%)       Perth $514,535 (+1.19%)       Hobart $536,446 (-0.13%)       Darwin $382,540 (-0.82%)       Canberra $486,457 (+0.33%)       National $558,956 (-0.07%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 12,022 (+769)       Melbourne 16,764 (-534)       Brisbane 9,178 (-1,672)       Adelaide 3,138 (-13)       Perth 8,405 (+14)       Hobart 1,262 (-41)       Darwin 243 (-18)       Canberra 1,273 (-75)       National 52,285 (-1,570)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,330 (-482)       Melbourne 8,988 (-321)       Brisbane 1,846 (-48)       Adelaide 486 (+9)       Perth 1,854 (+37)       Hobart 227 (-2)       Darwin 301 (-13)       Canberra 1,216 (-16)       National 24,248 (-836)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $600 ($0)       Brisbane $650 (+$10)       Adelaide $620 ($0)       Perth $680 (+$5)       Hobart $560 ($0)       Darwin $743 (+$20)       Canberra $690 (-$10)       National $676 (+$3)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $570 ($0)       Brisbane $640 (+$15)       Adelaide $495 ($0)       Perth $630 ($0)       Hobart $450 (+$20)       Darwin $578 (-$3)       Canberra $580 ($0)       National $599 (+$3)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,980 (+299)       Melbourne 8,334 (+76)       Brisbane 4,452 (-15)       Adelaide 1,580 (+13)       Perth 2,385 (-16)       Hobart 241 (0)       Darwin 150 (+6)       Canberra 633 (-9)       National 24,755 (+354)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 11,521 (+132)       Melbourne 8,107 (-13)       Brisbane 2,361 (+13)       Adelaide 432 (-17)       Perth 682 (-8)       Hobart 90 (-9)       Darwin 271 (-13)       Canberra 720 (+2)       National 24,184 (+87)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.55% (↑)      Melbourne 3.14% (↑)      Brisbane 3.24% (↑)      Adelaide 3.46% (↑)      Perth 3.86% (↑)      Hobart 3.85% (↑)      Darwin 5.37% (↑)        Canberra 3.67% (↓)     National 3.30% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND       Sydney 5.14% (↑)      Melbourne 5.96% (↑)      Brisbane 5.25% (↑)        Adelaide 5.17% (↓)       Perth 6.37% (↓)     Hobart 4.36% (↑)      Darwin 7.85% (↑)        Canberra 6.20% (↓)     National 5.57% (↑)             HOUSE RENTAL VACANCY RATES AND TREND         Sydney 1.3% (↓)     Melbourne 1.3% (↑)        Brisbane 1.1% (↓)       Adelaide 1.0% (↓)       Perth 0.9% (↓)       Hobart 0.9% (↓)       Darwin 0.6% (↓)       Canberra 1.8% (↓)       National 1.1% (↓)            UNIT RENTAL VACANCY RATES AND TREND         Sydney 1.7% (↓)     Melbourne 2.6% (↑)        Brisbane 1.5% (↓)     Adelaide 1.0% (↑)        Perth 0.7% (↓)       Hobart 1.7% (↓)     Darwin 1.2% (↑)        Canberra 3.2% (↓)       National 1.7% (↓)            AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 30.5 (↑)        Melbourne 30.8 (↓)     Brisbane 31.8 (↑)      Adelaide 25.2 (↑)        Perth 36.5 (↓)     Hobart 30.1 (↑)        Darwin 31.3 (↓)       Canberra 29.2 (↓)       National 30.7 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 31.3 (↑)        Melbourne 31.6 (↓)       Brisbane 29.4 (↓)       Adelaide 24.9 (↓)       Perth 36.8 (↓)       Hobart 26.4 (↓)       Darwin 41.1 (↓)     Canberra 40.1 (↑)        National 32.7 (↓)           
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Why we’re working anywhere but the office

In a post pandemic environment, Australian workers are voting with their feet and skipping the office in favour of other, more appealing environments

By Sara Mulcahy
Thu, Nov 7, 2024 10:21amGrey Clock 4 min

From the latest issue of Kanebridge Quarterly magazine. Order your copy here.

For many, working from home is the new normal. The transition from being based in the office to working off-site has been a fundamental one, and almost four in 10 Australians worked from home at least once a week throughout 2023.

While figures show a slight decrease on 2021, working from home (WFH, it even has its own acronym) has continued to escalate in white-collar occupations, with 60 percent of managers and professionals eschewing the traditional office set-up. And those who aren’t already doing it wish they were. According to the annual Taking the Pulse of the Nation report, almost all workers (94pc) would like to do at least part of their work hours at home.

“I would say that the days of only full-time in the office for all employees are likely gone for good,” says the author of the report, the Melbourne Institute’s Professor Ragan Petrie.

“The trends in Australia mimic those in other countries where hybrid schedules are quite common.”

But is it all good news? Among the many compelling reasons to ditch the commute — saving time, improved mental health, higher productivity and being able to put the washing on — there are the well-documented shortcomings regarding the isolation, and missing out on the opportunities that those casual catch ups in the stairwell can offer.

Opportunities for casual connections for in-office workers are not enough to entice many. Image: Shutterstock

“Constant drop-bys for chit-chat are not productive, but purposeful conversations are,” counters Petrie. “There might not be shortcomings of working from home per se, but rather not having the right infrastructure and support in place for workers to be productive. It’s important for employers and workers to figure this out.”

For those who are new to the workforce, flexible working arrangements are just the way things are. According to one survey, two out of every three Generation Z workers believe that the option to work from home is a non-negotiable.

Underpinning the normality of remote work are the advancements in automation and technology that make the transition smoother than ever — and perhaps support the use of email and text over the meetings and phone calls that younger generations shy away from.

“People of different ages have differential experience with technology, and there are some ways of communication people may feel more comfortable with than others,” says Petrie. “Certainly, technology plays a large role. Those whose jobs allow them to tap into technology to perform their tasks are well poised to be successful with a hybrid schedule.

“In the end, if worker output is satisfactory, why is it important where it is done?”

At the start of the pandemic as office-goers scrambled for a space to call work, the kitchen table was the go-to location. Now working remotely has become a more permanent arrangement, a purpose-designed study area or hybrid space is as desirable in real estate brochures as a media room or butler’s pantry.

Roger Wardy is a director at Ray White Touma Group in inner city Sydney, where more than 100,000 office employees have left the CBD for the greener pastures of remote work arrangements.

“Most house hunters want to see a home office or office space these days, and in larger homes it’s an expectation,” he says.

“As such, we’d be more likely to market a six-bed home as a five-bed plus office. If a buyer works from home, that will definitely add value.”

But the home office is just the beginning. Having paved the way for more flexible work arrangements, there’s now a growing trend towards co-working environments for companionship, productivity and a delineation of work and home.

High-tech co-working spaces offer several advantages over working from home, making them the preferred choice for many. A professional environment means distractions are minimised, and you’ll have access to state-of-the-art amenities that you probably won’t have at home. And then there are those networking opportunities — co-working spaces attract a diverse group of professionals and who knows what you might find out at the communal coffee bar? It’s something that’s making its way up the agenda for apartment developers, too, with those on the front foot offering co-working spaces along with the pool, gym and rooftop entertaining.

At the luxury new development Paradiso Place in Surfers Paradise (pictured above), the entire 2900sqm 26th floor is dedicated to a state-of-the-art co-working space, maximising 360-degree views of the Gold Coast from the ocean to the hinterland.

“To have the option of working in a space like this with all the facilities of a high-tech office within your own apartment building is an exciting prospect for buyers,” says Total Property Group Managing Director Adrian Parsons. “We have been receiving a great deal of interest in this development from business owners, entrepreneurs and professionals who can see themselves waking up in their luxury apartment with ocean views to go for a walk or run along the beach, use the onsite gym, then conveniently head to work in a state-of-the-art co-working space within their own building.”

The space incorporates a boardroom, private meeting rooms, work pods and multiple hot desks. And it’s not all about focused work; there’s also a spacious balcony event space and a Coffee Emporium complete with baristas.

“With working from home becoming the new normal, we are seeing many Australians choosing to move to quality lifestyle locations like the Gold Coast, and a full-floor co-working space of this standard is attracting a high level of inquiry,” says Parsons.



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David Sacks , a former PayPal executive, will serve as the “White House A.I. & Crypto Czar,” Trump said on his social-media platform Truth Social.

“In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” he posted.

Musk and Vice President-elect JD Vance chimed in with congratulatory messages on X.

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The fundraiser drew several cryptocurrency executives and tech investors. Some attendees were concerned that America could lose its competitiveness in emerging areas such as artificial intelligence because of overregulation.

Many tech leaders had hoped the next president would have a friendlier stance on cryptocurrencies, which had come under scrutiny during the Biden administration.

“What the crypto industry has been asking for more than anything else is a clear legal framework to operate under. If Trump wins, the industry will get this, and more innovation will happen in the U.S.,” Sacks posted on X in July.

The tech industry has also pressed for friendlier federal policies around AI and successfully lobbied to quash a California AI bill industry leaders said would kill innovation.

Sacks’ venture-capital firm, Craft Ventures, has invested in crypto and AI startups. Sacks himself has led investment rounds in many. He has previously invested in companies such as Slack, SpaceX, Uber and Facebook.

Sacks was the former chief operating officer of PayPal, whose founders included Musk and Peter Thiel . The group, called the “PayPal mafia,” has been front and center this election because of its financial muscle and influence in drumming up support for Trump.

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