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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Private entities to profit as jobactive requires review

By Cameron Micallef · April 28 2020

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Earn

Private entities to profit as jobactive requires review

By Cameron Micallef
April 28 2020

Reading:

Private entities to profit as jobactive requires review

By Cameron Micallef · April 28 2020

Reading:

Australia’s privately run employment services are set for a windfall, as the hundreds of thousands of people left without employment due to the COVID-19 economic impact sees them cash in, new research has found.

According to a paper released by Per Capita, the Australian taxpayer will foot a $210 million bill, with the think tank calling for a review of the current system.

Under the current system, about 40 privately run employment agencies and not-for-profits receive fees for each jobseeker placed on their books, as well as incentives for those on their books that are placed into a job.

“A review is needed to design employment services that are fit for the post-COVID-19 unemployment scenario and that are also responsive to the long-term economic challenges ahead,” said report author Simone Casey.

“The focus of the review should be a consideration of how to provide effective job counselling and case management as well as ensuring the best online tools for job searching are accessible to all.”

“It should identify the services and strategies needed to prevent youth unemployment and to support those who are most vulnerable to ongoing insecure employment.”

The think tank said the jobactive model already in use is under significant reform due to high demand, with the “new employment services model” created not fit for purpose post-COVID-19.

“However, it is Per Capita’s view that neither the existing jobactive system nor the new employment services model is a good fit for the post-COVID-19 unemployment scenario. This is because both models are hamstrung by a dependency on job outcome payments, which leads to under-investment in the needs of people most at risk of long-term unemployment,” the paper stated.

Instead, Per Capita said there is a need for broader partnerships that secure the supply and demand for labour, stimulate job creation projects and build a labour market that is resilient to economic shocks.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.