Will China's EV price war lead to cheapers cars in Australia?
The editor of "The Driven", Giles Parkinson, says these price discounts may be passed on to Australian consumers, but to a much lesser extent than we're seeing in China, and they'll take a while.
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News.com.au
20 minutes ago
- News.com.au
What $786k bought in Windsor apartment auction
A rare, house-sized apartment in Windsor has sold for $786,000, smashing reserve after three first-home buyers battled it out in a high-energy auction. The two-bedroom unit at 19/40-50 High St had $740,000+ price hopes, and hit the market at $750,000, before climbing to its final sale price under the hammer. The auction, led by The Agency's new Victorian general manager of sales Michael Wood, drew a crowd of 30 to 40 people and kicked off with a $700,000 phone bid from an interstate buyer in Sydney. Warning for Vic homebuyers after dud rate call Melb's biggest eyesore seeking $60m+ But it was a local young professional who ultimately secured the keys, after bidding against two other first-home buyers who had zeroed in on the apartment's size, location and long-term value. 'This wasn't your average two-bedder,' Mr Wood said. 'You had two car spaces, a separate storage room, a proper balcony, house-like proportions and a study nook, all on the top floor of a boutique block just 500m from Chapel St.' Mr Wood said buyers were clearly moving away from newer 'cookie-cutter' apartments in favour of older, well-built homes with more space and lower owners corp fees. 'Shoeboxes are out. People are prioritising build quality and future capital growth over shiny finishes,' he said. 'This apartment had been freshly painted and carpeted, it was ready to move in, but it also gave buyers a chance to add value over time.' The building, completed in the early 2000s, had attracted strong attention from professionals in their 20s and 30s, many of whom were frustrated by the lack of well-sized listings under $800,000. Mr Wood said the mix of space, liveability and location made the property one of the most compelling value propositions on the market. 'There's a perception that you have to spend upwards of $850,000 to get something this size in Windsor,' he said. 'This home proved that's not the case, and the buyers were pleasantly surprised.' The campaign attracted 33 enquiries and 22 inspection groups, with 11 contracts requested and three active bidders on auction day. Despite no rate cut from the Reserve Bank this week, Mr Wood said the market was showing strong buyer confidence. 'There's real urgency from serious buyers,' he said. 'They know if they wait for rates to drop, they'll face even more competition, and probably miss out.'
News.com.au
37 minutes ago
- News.com.au
From successful business owner to homeless: How gambling addiction changed Adelaide dad Roger's life
Roger's first win at the roulette table changed everything – but not in the way he expected. A successful business owner, the father-of-three owned multiple cafes and a chicken shop in Adelaide's west and was 'comfortable financially'. But after winning big his first time playing roulette, he began spiralling into a devastating gambling addiction which took complete control of his life for 14 years. 'You get to a point where money isn't an issue anymore. I was comfortable financially and I fell into an addiction,' he said. 'I was no longer enjoying the game, I was just chasing my losses and trying to make something. 'I had no control of myself.' At the peak of his addiction, he ranked among Adelaide's biggest gamblers, gambling up to 17 hours daily and spending nearly $500,000 yearly. In 2019, he paid the ultimate price for his addiction, filing for bankruptcy and separating from his wife of 30 years. Unemployed and relying on welfare, he left the family home with only $150 cash to his name. 'It was hard on all of us,' he said. 'Losing all my assets and all the luxurious items around me had an impact without a doubt. 'But the legit and serious impact was when I lost my family. 'I attempted suicide after that, I just couldn't take it.' After being discharged from hospital following a suicide attempt, he began rehab. However, with nowhere to go, he was left homeless. It was while staying at St Vinnie's Men's Shelter that he connected with Hutt Street Centre and was given a 'second life'. The charity provides free meals, access to bathrooms and laundry facilities, and a range of support services, ranging from medical check-ups to employment pathways. 'Most people think it's just a place where you can get food but it's much more than that,' he said. 'From the first second they were so humble and welcoming. 'They made me feel like I'm still alive.' Now preparing to move into his own home over the next coming weeks, he said it wouldn't have been possible without the charity's support. 'I will have my own space, my own place – that feels amazing,' he said. 'If it wasn't for (Hutt Street Centre) I wouldn't be where I am today.' Roger is one of thousands of South Australians that Hutt Street Centre supports everyday. 'Every single one of us has an issue, has a story,' Roger said. 'None of us were born on the footpath to be homeless. 'To see (people sleeping rough) out there is heartbreaking. 'We don't ask for too much. We only ask for help.'
ABC News
2 hours ago
- ABC News
Aussie jobs on agenda for PM's China trip
Prime Minister Anthony Albanese is preparing to meet with China's leaders over a six-day trip, which he says he'll use to boost economic ties and build job opportunities for Australia.
