Page 82 – Kanebridge News

March 24, 2021

Property Of The Week: 56 Power Street, Hawthorn, VIC

A grand double-storey Victorian entertainer tucked neatly into one of Melbourne’s prized inner suburbs, ‘Girraween’ proves an enviable study in classic elegance and updated functionality for luxurious contemporary living.

Set well back from the street, enter the approx. 1190 sqm plot via a private and walled front garden and embrace an immediate sense of calm. Off the inviting, arched hallway sits the exquisite formal dining, sumptuous library, secondary living area and kitchen.

The latter delivers Smeg and ASKO appliances as well as HeatnGlo fireplace and contemporary cabinetry across a neutral white palette and continuation of Japanned floorboards.

Of the four well-appointed upstairs bedrooms, the master suite boasts WIR/dresser and luxurious modern ensuite with city views. A further bathroom and powder room can be found upstairs, with additional powder room on the ground floor.

Dating to c1883, classical ceilings abound here, so too marble gas fireplaces across the library, formal living and dining rooms as well as further modern musts such as hydronic heating, air-conditioning, alarm, video intercom and double-glazed windows.

The exemplary elegance of ‘Girraween’ extends across the rear and what is a delightful entertainer’s garden as lifted from the British countryside. The sun-soaked rear holds a huge deck, large grassed area and what is an established kitchen garden alongside a potager shed and remote-control garage with abundant storage.

Situated just 5km from the CBD, the property rests on the edge of the Grace Park Estate and within easy access to the elevated shopping and dining of Glenferrie Road and Kew Junction.

Nearby to trams and Hawthorn train station, so too parklands, the Yarra River and some of Melbourne’s finest schools, including Xavier, MLC, Trinity and more.

‘Girraween’ is a rare opportunity to own a property that affords not only an enviable lifestyle, but an updated slice of history that holds a tremendous sense of self.

EOI closing April 10, the property is with Kay & Burton’s Sam Wilkinson (0400 169 148) and Xavier Karagiannis (0427 367 330); kayburton.com.au/

March 23, 2021April 20, 2022

These Stocks Are More of a Gamble Than An Investment

As with seemingly everything in markets these days, it all ties back to the Reddit Wall Street Bets message board.

No, we’re not talking about GameStop (ticker: GME). Rather, Castor Maritime (CTRM). The dry-bulk commodities transportation firm was trading around 20 cents earlier this year until it was swept up in momentum as users of the message board recommended the company, sending shares as high as $1.95.

The stock was identified as a potential gamble using methodology from recently published research paper—from Alok Kumar of the University of Miami, Houng Nguyen of the University of Danang, and Talis Putnins at the University of Technology Sydney and Stockholm School of Economics. The group proposed looking at the average volume over 30 days compared to market cap as a way of determining what they called lottery stocks. “We assume that gambling in stock markets involves disproportionate amount of trading in lottery-like stocks,” they said.

Castor topped the research group’s list of New York Stock Exchange- and Nasdaq-listed companies that were potential “lottery stocks.” Barron’s added to a filter to the list to look at companies with market caps of at least $500 million and published the list in January.

We ran our version of that screen again this month. Castor Maritime topped our list this time.

Sundial Growers (SNDL), the cannabis stock, and Genius Brands International (GNUS), the children’s media company, appear high on the list too. The top NYSE-listed stock was AMC Entertainment (AMC), the movie chain operator that, with GameStop, became a poster-child for the so-called meme stock revolution.

And what about GameStop itself? It’s not in the top 20, but the methodology does put the video-games retailer high: Out of more than 3,000 stocks, GameStop ranks 128th as a lottery stock.

The stock scoring lowest in the lottery stock rankings was Google owner Alphabet (GOOGL).

Ranking	Company
1.	Castor Maritime
2.	Sundial Growers
3.	Genius Brands International
4.	TherapeuticsMD
5.	Ideanomics
6.	AMC Entertainment
7.	Ocugen
8.	Ebang International Holdings
9.	ElectraMeccanica Vehicles
10.	Workhorse Group
11.	Jiayin Group
12.	Invesco Mortgage Capital
13.	ChromaDex
14.	Transocean
15.	Gevo
16.	Bionano Genomics
17.	Clovis Oncology
18.	Nano Dimension
19.	W&T Offshore
20.	Tellurian
Source: FactSet

March 23, 2021March 23, 2021

Jack Dorsey’s First Tweet Sells As NFT For Approx. $3.7 Million

The first tweet that Twitter Inc. Chief Executive Jack Dorsey posted to the microblogging site in 2006 has sold as a nonfungible token for about $2.9 million (A$3.7 million), the latest digital collectible to haul in more than US$1 million amid a flurry of interest from buyers.

The winning bidder, Malaysia-based blockchain company Bridge Oracle CEO Sina Estavi, technically owns a digital certificate of the tweet—“just setting up my twttr,” according to Valuables, an NFT marketplace for buying and selling tweets that ran the auction. NFTs work on the blockchain, similar to cryptocurrencies like bitcoin, and serve as digital certificates of authenticity for everything from art to memes.

Mr Dorsey’s tweet itself will continue to live on Twitter, Valuables said, adding that the digital certificate is signed using cryptography and includes the tweet’s metadata such as when the tweet was posted.

“This is not just a tweet!” Mr Estavi tweeted Monday. “I think years later people will realise the true value of this tweet, like the Mona Lisa painting.”

Mr Estavi couldn’t be immediately reached for comment on Monday. He was also the highest bidder to secure an NFT of a tweet from Tesla Inc. CEO Elon Musk, but Mr Musk ultimately changed his mind.

Cryptocurrency investor Justin Sun, who paid a record US$4.6 million in a 2019 charity auction to have lunch with Warren Buffett, was the second-highest bidder for the NFT of Mr Dorsey’s first tweet.

A wide array of content creators have set their sights on the NFT market after Mike Winkelmann, a self-taught artist who goes by the professional name of Beeple, sold a digital image online at Christie’s for US$69.3 million, making him the third-most-expensive living artist after Jeff Koons and David Hockney.

The overall NFT market ballooned last year to at least US$338 million, from about US$41 million in 2018, according to NFT sales-tracking website NonFungible.com and L’Atelier, a research firm affiliated with BNP Paribas SA.

Mr Dorsey, a bitcoin advocate who also serves as CEO of Square Inc., launched the auction late last year, though bid values crossed the seven-figure mark over the past few weeks. The Twitter co-founder posted tweets showing auction proceeds being converted into bitcoin and sent to the nonprofit group GiveDirectly’s Africa Response project to offer emergency Covid-19 cash relief for families in Kenya, Rwanda, Liberia and Malawi.

March 23, 2021March 23, 2021

End Of Rental Moratorium Necessary For WA

The Real Estate Institute of Western Australia (REIWA) has said in a press release the end of the rental moratorium is a necessary step for the WA rental market.

With the emergency period for the Residential Tenancies (COVID-19 Response) Act 2020 ending on Sunday 28 March 2021, the REIWA believes it is a necessary step to help mend Western Australia’s rental shortage.

REIWA president Damian Collins said the September 2020 decision to extend the moratorium on evictions had a debilitating effect on the state’s rental market.

“Since the announcement in September, the Perth vacancy rate has dropped below one per cent – the lowest level we’ve seen in 40 years. There is very little available rental stock on the market and those people who are actively looking for somewhere to rent are finding it very difficult to secure a place to live,” REIWA President Damian Collins said.

“Thankfully, once the moratorium ends investors will have more incentive to buy property in WA. This should increase the number of properties available to rent and help create a more balanced market.”

Data from reiwa.com shows the Perth median weekly rent price has increased from $360 in February 2020 to $400 in February 2021.

Sunday marks the first time property investors will be able to increase rent prices in 12 months.

“Whilst it is inevitable prices will rise, WA tenants are still paying a lot less overall than their counterparts around the country. In fact, earlier this month the Real Estate Institute of Australia released their December 2020 quarter Housing Affordability Report which revealed WA remained the most affordable place to rent in the country,” Mr Collins added.

March 22, 2021March 22, 2021

5 Luxury Coastal Developments To Know

A new wave of premium residential properties along Australia’s east coast are set to hit the market this season, catering to wealthy and discerning investors as well as owner-occupiers seeking the ultimate in lifestyle and comfort.

We’ve highlighted five of the best projects coming to market in Melbourne, Sydney, Brisbane and on the Sunshine and Gold Coast in South East Queensland.

Whether they occupy a coastal, bayside or urban location, each project has exceptional city and water views as standard and are located close to recreational amenities, dining, shopping and transport facilities.

Architecturally striking, they represent the best of Australian contemporary architecture, thoughtfully designed and responsive to a specific setting, climate and topography.

Lavishly appointed with increasingly bespoke finishes and fixtures, the inclusion of exclusive amenities are akin to those offered in world-class private clubs and among the best creature comforts money can buy.

All projects featured are new to the market or were recently released and all have stock currently available for purchase.

Nature by Cube, 49 The Esplanade, Cotton Tree, Sunshine Coast, Queensland

_{Rendering: Cube Developments}

Melbourne and Sydney seachangers have been descending on the Sunshine Coast in droves in the past 12 months. Attracted to the sub-tropical lifestyle of the region, 90 kilometres north of Queensland’s capital city Brisbane, developers such as Cube Developments are meeting the increase in demand for more luxurious residential property.

Nature by Cube is an eight-story Cottee Parker-designed project that will offer 13 state-of-the-art residences, all with water views and premium finishes.

Across 12 three-bedroom apartments and one four-bedroom penthouse, each residence has generous open-plan living, dining and kitchen spaces, a butler’s pantry, timber chevron flooring, limestone benchtops and top-of-the-range Gaggenau appliances.

Each bedroom has an en-suite bathroom while the primary bedrooms will have water and garden views while retaining privacy. The art-like sculptural facade will feature organic curves, glass-reinforced concrete, greenery inserts and draping landscaping as inspired by the shapes and tones of the coastal environment.

House-like in size and scale, apartments range from 250 square meters to 510 square meters for the penthouse, with little wasted space and premium fixtures and finishes throughout.

Nature by Cube apartments are available for sale, via an expression of interest campaign. Construction is scheduled to begin in the second half of 2021.

Number of Units: 13
Price Range: $2.638 million–$7 million
Developer/Architect: Cube Developments/Cottee Parker
Apartment Sizes: Three-bedroom apartments and a four-bedroom penthouse
Amenities: Resort-style amenities include a 25-meter lap pool, gym, steam room and spa, private dining room and wine room. Fine-dining restaurants, wine bars, chilled cafes and the beach are all within walking distance; while there’s hundreds of shops, entertainment options and transport links easily accessible within the new Maroochydore central business district. There are EV charging stations installed in all parking bays.

www.naturebycube.com.au

_{Rendering: Cube Developments}

The Ambrose, 19-23 McDougall St., Milton, Brisbane, Queensland

_{Rendering: Kokoda Property}

Located in a tightly held suburban area of Brisbane’s inner west, construction has begun on The Ambrose, a $150 million landmark residential tower. The 19-story tower, overlooking the Brisbane River, is 1.5 kilometres from the central business district, with arterial roads and cycle and ferry networks on its doorstep.

Queensland architectural practice Cottee Parker has designed a building that is sensitive to the surrounding landscape and responds to Brisbane’s sub-tropical climate. Maximizing views to the east while maintaining privacy, The Ambrose features 181 one-, two- and three-bedroom apartments and four-bedroom penthouses.

The sculptural facade’s organic fins and ascending greenery is inspired by the Brisbane River and city views, reflecting the city’s climate and outdoor lifestyle.

“The Ambrose is a reflection of the way we know people in Brisbane live, work and play, and conveys a strong architectural language rich in both form and function,” Cottee Parker director Sandra Browne said.

The apartments, which range in size from 62 square metres to 185 square meters for the penthouses, feature oak flooring, natural stone bench tops, marble bathrooms and Miele appliances.

The Ambrose is 300 meters from Milton Rail Station, a two-minutes walk to the Milton Ferry, while being only two kilometres from Brisbane’s arts and cultural precinct, including the Gallery of Modern Art, Queensland Performing Arts Centre, Brisbane Library and Brisbane Convention Center.

Construction has begun and is scheduled for completion in 2022 with 50% of the apartments still available for purchase.

Number of Units: 181
Price Range: From $590,000 to $2.095 million
Developers/Architect: Kokoda Property/Cottee Parker
Apartment Sizes: One-, two- and three-bedroom apartments and penthouses
Amenities: Residents will have exclusive access to substantial communal amenities including landscaped rooftop gardens, an 11-meter swimming pool, spa, sun lounges and barbecue area. Other amenities include a cinema room, lobby lounge, viewing deck, lawn covered terrace and gym.

theambrose.com.au

_{Rendering: Kokoda Property}

Awaken, 275 Boundary St., Coolangatta, Queensland

_{Rendering: S&S Project Developments}

Occupying an elevated headland above the Gold Coast’s iconic Duranbah and Snapper Rocks, Awaken has been designed to emulate this exclusive location while capturing 360 degrees of panoramic coastal views.

Awaken will occupy a site just inside the Queensland and New South Wales borders, overlooking two surf beaches, rock pools, a scenic lookout and walking paths. Unsurprisingly, the architectural brief for the ultra-premium project had to meet, and if possible, exceed the site’s extraordinary location. The result is a collection of only nine apartments—average price A$4.2 million each—that will likely appeal to affluent second-home owners and permanent residents.

“Awaken will be a game changer for the Gold Coast and South East Queensland,” KM Sales & Marketing director Jayde Pezet said.

World-renowned urban artist Lindy Lee has been engaged to create an 11-story art piece on the north-facing side of the building that will come to represent the iconoclastic status of the structure.

Buyers will have the opportunity to individually design their apartments to ensure each of the nine residences are wholly unique and bespoke.

Lavish and opulent fixtures and fittings will be offered to buyers who will have the choice of incorporating natural stones, steel and glass, custom cabinetry and leather accents alongside a full suite of home automation and security features.

Each apartment will have a private and extensive wraparound balcony, offering views south to Byron Bay and north to Stradbroke Island, while capturing afternoon seabreezes in every room.

Residents will be spoiled for choice with multiple white sand beaches in walking distance as well as the outdoor and leisure activities of the Tweed River.

Registrations of interest are being taken, with the project scheduled to launch to the market in early April.

Number of Units: 9
Price Range: Starting at $3.95 million
Developers/Architect: S&S Project Developments/Cottee Parker
Apartment Sizes: Three- and four-bedroom full floor apartments and one double-story penthouse
Amenities: Residents will have access to a swimming pool, luxurious steam room, outdoor landscaped barbecue area, additional secure storage and beach shower facilities. Level one will contain a destination fine dining restaurant and a café will occupy the ground level offering health food and coffee.

Website: awakenrainbowbay.com.au

The Landmark, 500 Pacific Highway, St Leonards, Sydney, New South Wales

_{Rendering: A+ Design Group}

A vertical village of more than 400 apartments, The Landmark’s visionary architecture, enviable central location and vast amenities make it one of the most anticipated projects in the market.

Uninterrupted vistas of Sydney’s iconic Harbour Bridge and city skyline are part of the 52-story building’s appeal, with every floor and balcony unique in shape, size and outlook.

Still to be released are six of the seven penthouses that will occupy floors 30 and above, promising some of Sydney’s most dramatic views.

Inside will be multiple living areas, floor-to-ceiling windows, three or four bedrooms, a home office, cinema room, internal lift and private garage. Master craftsmanship is on display in the custom Italian-designed kitchens which feature grey Pietra marble countertops, custom cabinetry and Gaggenau and Sub-Zero appliances.

A Sky Lounge will be an exclusive space for residents in three-bedroom apartments and penthouses situated on Level 30 and above, offering stunning, panoramic views and an additional space to entertain friends and guests.All residents can make use of an acoustically engineered music rehearsal room, an indoor playground for children and a library for reading and studying.

The Landmark’s final release of penthouses and three-bedroom skyhomes is expected this year. The building is under construction and will be completed in October 2021.

Number of Units: 429
Price Range: Studio apartments from $600,000-$750,000. One-bedrooms from $720-000- $980,000. Two-bedrooms from $1.25 million-$1.88 million. Three-bedrooms from $2.2 million-$4 million. Penthouses from $11 million-$18 million.
Developer/Architects: New Hope/A+ Design Group in association with Warren & Mahoney
Amenities: Residents will be granted exclusive access to Club 500, which includes the services of a full-time concierge, an indoor lap pool, a spa, a sauna, a private gym, a yoga room and a cinema. A virtual golf room combines luxurious lounges and modern technology, while a communal lounge with bar, dining room and fireplace is available for private events.

grandskypenthouse.com.au

_{Rendering: A+ Design Group}

Pavilion Green Sky Homes, 216 Bay Rd., Sandringham, Melbourne, Victoria

_{Rendering: Auyin}

The double-story sky homes atop the recently completed Pavilion Green are a sight to be seen due to size, outlook and quality of finishes.

It’s a new benchmark for this popular seaside suburb less than 20 kilometers from Melbourne’s central business district, where residents relish the active outdoor lifestyle of swimming, sailing, cycling and walking trails.

Pavilion Green’s contemporary design is a direct reflection of its premium coastal location. Waves of curved linear bands flow across the façade thanks to generous cantilevered balconies that are private and protected from the elements. The Sky Homes are Pavilion Green’s piece de resistance; huge homes that range from 235 square meters to 470 square meters, including outdoor terraces.

Each two-story residence comes with its own private elevator and central feature staircase and a complete home-integration system that includes Sonos speakers, electronic blinds and a smart TV in the main living area. Panoramic views of the city skyline and Port Phillip Bay, high ceilings, gas fireplaces and luxe kitchens featuring a Signorino marble island countertops, Miele appliances, double ovens and a butler’s pantry come as standard.

Sandringham is one of Melbourne’s most sought-after seaside villages, with easy access to upscale shopping in Brighton and Westfield Southland, residents have dining, retail, recreational facilities and transport at their doorstop.

Construction of Pavilion Green has been completed with the four sky homes to officially be released to the market in March.

Number of Units: 4
Price Range: $2.2 million to $2.99 million
Developer/Architect: Auyin/CBG
Apartment Sizes: Three-bedroom sky homes
Amenities: At ground level are boutique retail spaces, a private lobby and exclusive residents’ retreat. A large entertainment terrace flows out to the landscaped gardens of Pavilion Green, while central elevators and stairs provide accessibility to allocated basement parking, private lockable storage and bicycle bays.

Website: skyhomessandringham.com.au

_{Rendering: Auyin}

March 22, 2021

Elon Musk Says Tesla Won’t Share Data From Its Cars With China Or U.S.

SHANGHAI—Tesla Inc. would never provide the U.S. government with data collected by its vehicles in China or other countries, Elon Musk, the company’s chief executive, told a high-level conference in China.

Mr. Musk’s assurance that Chinese customer data is fully protected followed the Chinese government’s decision to restrict the use of Tesla cars by military personnel or employees of key state-owned companies, as first reported by the Journal on Friday. Beijing had acted out of concern that sensitive data such as images taken by the cars’ cameras could be sent to the U.S., according to people familiar with the matter.

Speaking via video link Saturday to the government-backed China Development Forum in Beijing, Mr. Musk said that no U.S. or Chinese company would risk gathering sensitive or private data and then sharing it with their home government.

“Whether it’s Chinese or U.S., the negative effects if a commercial company did engage in spying—the negative effects for that company would be extremely bad,” Mr. Musk said. If Tesla used its cars to spy in any country, he said, it would be shut down everywhere, which he called “a very strong incentive for us to be very confidential.”

Concerns about commercial espionage have become overblown, Mr. Musk said, citing the case of the video platform TikTok—owned by Chinese tech company Bytedance Ltd.—which faced a U.S. ban last year before being reprieved.

“Even if there was spying, what would the other country learn and would it actually matter? If it doesn’t matter, it’s not worth thinking about that much,” Mr Musk said. U.S. concerns about Chinese spying via TikTok are irrational, he argued: The platform’s videos mostly show people “just doing silly dances.”

Tesla has been seen as a model foreign company in China. It won strong support from Shanghai authorities to set up in the city, and in 2018 became the first foreign auto maker in China to gain approval for a wholly owned factory—that is, without a local joint-venture partner. Chinese state banks financed the project.

China has also become a core market for Tesla, last year accounting for about a quarter of its global sales of roughly 500,000 vehicles.

While continuing to expand the Shanghai plant and ramp up local production of the Model 3 sedan and the Model Y compact crossover vehicle, Tesla had its first serious run-in with the Chinese authorities last month. The State Administration for Market Regulation, the country’s top market regulator, publicly rebuked the company over quality issues.

Tesla responded with a statement saying it “sincerely accepted the guidance of government departments” and would make improvements having “deeply reflected on [its] shortcomings.’

March 22, 2021March 22, 2021

Sydney Posts Back-To-Back Record Clearance Rates

Auction markets across the country continued to record extraordinary results on March 20, reflecting unprecedented buyer competition.

Despite the dreary weather, the Sydney auction market posted back-to-back record results, exceeding 90% for the third time in four weekends with a clearance rate of 92.4%.

The result is a stark contrast to the coronavirus impacted market of the same weekend last year which reported 64.9% clearance rate.

Auction numbers were higher in Sydney on Saturday with 856 reported, compared to the 716 listed last weekend. Sydney recording a median price for houses sold at auction on the weekend of $1,610,500, 24.7% higher than the same weekend in 2020.

Melbourne’s market also proved strong with a season-high effort of 82.1%, up from last weekend’s 81.5%.

A reported 1117 homes were listed for auction, higher than the previous weekend’s 978 but lower than 1184 reported over the same weekend of 2020.

Melbourne’s median house price sold at auction on the weekend was $980,000 which is 6.8% higher than the 918,000 recorded over the same weekend last year.

Listings increased in all capitals compared to last weekend (March 13), with the exception of Canberra. It’s expected that an influx of listings will flood the market at the pre-Easter super Saturday next weekend.

March 19, 2021April 20, 2022

China Restricts Some Steel Production

China’s efforts to drastically reduce pollution levels could lead to lower demand for iron ore, a raw material for the steel industry, which is a big source of the nation’s harmful emissions.

It hasn’t happened yet, however. “With the Chinese economy almost fully recovered from the pandemic, demand for steel is very strong,” which means that demand for iron ore is also very strong, says John Kartsonas, a managing partner at Breakwave Advisors, the advisor for the Breakwave Dry Bulk Shipping exchange-traded fund (ticker: BDRY).

At the same time, iron-ore supply remains tight, with Brazil, a major producer of the commodity, not fully recovered from a deadly accident two years ago that hurt production, he says. In 2019, Vale halted some mining operations following a fatal dam breach in Brazil, leading to significant declines in its iron-ore output. Vale pegged its production of iron-ore fines at 300.4 million metric tons in 2020, compared with nearly 384.2 million metric tons in 2018.

Tight supplies and rising demand helped lift the most-active futures contract for 62% iron-ore fines delivered to China to US$174.94 per metric ton on March 4, the highest settlement since August 2011, based on Dow Jones Market Data reports going back to October 2010. That’s not far from the record-high settlement of US$188.88 from February 2011.

China produced more than one billion metric tons of crude steel last year, and there are “no iron-ore projects that will produce sizeable net new tons for at least five years,” says Paul Bartholomew, a metals analyst at S&P Global Platts. Expectations for further Chinese economic stimulus are also positive for steel and iron-ore demand, he says.

Iron-ore prices, however, have eased in recent days on prospects of a slowdown in demand, as China plans to reduce factory activity to cut carbon emissions. The March contract was at US$168.26 on March 16, trading 2.6% lower month to date.

Tangshan, a city in China’s Hebei province referred to as the nation’s steelmaking hub, has ordered factories to limit or halt production on days when a heavy-pollution alert is in place, to cut overall emissions by 50%, according to the South China Morning Post.

“Steelmaking is a major source of pollution in China, estimated to account for about 15% of the country’s total emissions, so it is hardly surprising investors took profits at the prospect the steel industry could be facing significant environmental controls,” says Stuart Burns, editor at large for metals analysis provider MetalMiner. “The first casualty of reduced steel production would be demand for raw materials,” he says.

Still, China might not be able to fully implement restrictions on steel production. Reducing steel output may be “difficult to achieve this year,” says Bartholomew. In the past, many facilities taken offline were already “mothballed or uneconomic,” he says. “It’s harder to close production when mills are operating and making money.”

The VanEck Vectors Steel ETF (SLX), which provides exposure to companies involved in the steel sector, has climbed about 10% this month.

Given China’s restrictions on operations of some highly pollutant steel mills, however, Breakwave’s Kartsonas says he is now “a bit more cautious” on the outlook for iron-ore prices.

Brazil has signalled an increase in iron-ore production. That, in combination with China’s pollution restrictions, could lead to “more moderate” prices in the next several months, he says. Still, if demand for construction continues to support steel, that means iron-ore prices can remain “higher than historical averages for a long time.”

March 19, 2021April 20, 2022

Apple Reportedly Readying Faster iPads

Working from home has been an enduring trend from the Covid-19 pandemic and technology giant Apple may be ready to capitalise on that further.

According to a Bloomberg report on Wednesday, the company is aiming to spruce up its current iPad Pro models, with better cameras and faster processors. Those models—11-inch and 12.9-inch—could be making their debut as soon as April, the report said.

A spokesperson from Apple could not immediately be reached for comment.

Newer features may include a Mini-LED screen and faster processors, comparable to the M1 chip powering the newest MacBook Air, MacBook Pro and Mac mini. The company launched that new line of Macs last November, marking the first time the Apple-designed M1 chips were used.

Critics raved about those new MacBooks, saying they outperformed pricier Macs powered by Intel chips.

The work/school-from-home trends emerging from the Covid-19 pandemic have proven lucrative for the company. Apple posted a stunning quarter in late January, with double-digit growth in all of its product categories, including strong iPad sales.

Shares of Apple have struggled alongside tech stocks this year, down around 6% as investors have favoured more value-focused plays, directly tied to an economic recovery. Apple shares gained 80% both last year and in 2019. The stock got a boost earlier this week when Evercore ISI analyst Amit Daryanani told clients that the shares look cheap and lifted his price target to US$175 from US$163.

March 19, 2021March 19, 2021

Fall In Jobless Rate To Fuel Higher House Prices

Unemployment has fallen sharply over February and is now close to pre-covid shutdown levels.

According to data from the Australian Bureau of Statistics (ABS), the national unemployment rate seasonally adjusted fell sharply by 0.5% over February to 5.8%, the lowest rate since the pre-covid results of 5.2% recorded over March 2020.

Following strong buyer demand in Australian capital cities, with Sydney and Melbourne housing prices rising sharply in the first quarter of the year, experts are tipping lower unemployment figures to fuel higher housing prices.

“A rapidly improving labour market will enhance housing affordability and confidence, adding upward pressure on already strongly growing prices,” Dr Andrew Wilson, Chief Economist My Housing Market said.

All states reported falls in the jobless rate over February with Queensland performing strongest, falling 0.8%. NSW and VIC reported the lowest jobless rates at 5.6%.

“Concerns over the possible significant negative impact on the economy of the tapering of the Job Keeper allowances at the end of this month will also likely to be misplaced – again,” Dr Wilson added.