07 Jul TALE OF TWO PROPERTY MARKETS; WHY NO ONE WANTS TO BE THE BOSS ANYMORE
TALE OF TWO PROPERTY MARKETS
The mounting prospect of more interest rate rises might not be having much impact on stopping Australian house prices from rising, but it’s a very different story over in the office property sector.
While house prices notched up their 16th consecutive monthly rise to finish 8.0 per cent higher for the 2023/24 financial year, according to Core Logic data, office property values have dropped by more than 10 per cent in just the last six months.
Morningstar analyst Adrian Atkins warns that downward trend could blow out to a 20 per cent drop by the end of December courtesy of higher interest rates and office workers continuing to work from home.
Meanwhile, those who are still shunning the office are apparently cramming to get their work done early in the week so they can “focus on fun” on Fridays – the perfect day for long lunches and playing golf, according to social demographers at McCrindle Research.
WHY NO ONE WANTS TO BE THE BOSS ANYMORE
Are Australians becoming less ambitious? That’s the question that the AFR poses this week in its trend piece about post-pandemic shifts in our attitudes towards work.
A survey by the Australian HR Institute has found that recruiters are finding it harder to find employees who want to take on managerial roles.
The reasons for this are varied. For one thing, it’s now possible to get promoted into well-paid senior roles on the back of expertise rather than managerial capability. For another, the perception that managers often don’t get the support or training that they need. A final point is that while employees can choose to work from home for some days of the week, managers are often required to go into the office five days a week.
BUTTER SUPPLY SPREAD TOO THIN AS PRICES SOAR
Butter consumers may be in strife ahead of the holiday baking season as record-high prices stack the shelves, hitting an average of $7,350 per metric ton at the latest Global Dairy Trade auction, according to Bloomberg.
Those in the dairy industry might think twice before continuing to devote more milk to making cheese, as butter has become a star in its own right, fueled by stockpiling during the pandemic.
As bakers now consider using margarine instead for cakes and croissants, something tells us they won’t taste the same. Grab some while stocks last!
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