Transport for NSW slashes another 950 white-collar jobs
In an email to staff on Wednesday, Transport for NSW secretary Josh Murray said the job cuts were part of 'financial sustainability reforms' after the department grew 30 per cent – or by about 3000 people – in the aftermath of the COVID-19 pandemic.
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The Age
3 hours ago
- The Age
Victoria property: The Victorian regions where house prices rose most over the past year
She said buyers priced out of more expensive coastal regions were shifting their focus. 'In the Surf Coast you get tourism investors or people that have secondary homes, elevating that price point, which means for local buyers, they look to neighbouring LGAs that are deemed as much more affordable.' Property prices on the Surf Coast, a traditionally in-demand region, have fallen back over the past year. Credit: Istock Fergus Torpy, director and auctioneer at Ray White Colac, said 2025 so far had delivered a record number of buyers through open homes. 'We've seen increased buyer numbers. There's more buyers in the market either researching or looking to make purchases,' he said. 'In some months, it's been well up on what we experienced in the peak of COVID, which has been really pleasing.' Homes are selling faster, said Torpy. 'Time on market crept up in the Colac area to two, 2½ months,' he said. 'Now it's hovering close to 40 to 45 days.' He said he had noticed more confidence to buy. 'Buyers [have] confidence that if they buy today, maybe there's some easier times ahead in terms of interest rates.' The desirability of Colac Otway was not just related to its affordability, but its variety and appeal to older buyers, Torpy said. While much of the volume sat between $550,000 and $700,000 for three to four-bedroom homes, he said high-end lifestyle properties were also selling. 'We've had a really big lifestyle property down in Apollo Bay that sold for nearly $2 million, a boutique lifestyle retreat.' He believed the level of supply might also be pushing up prices. 'You'd probably say there's a slightly better demand than there is supply.' Dr Diaswati Mardiasmo, chief economist at PRD, said demand was outpacing supply in many of the fastest-growing regional areas. 'Either the number of sales has declined significantly, which means that they're undersupplied, or the number of sales has increased significantly, which means that it's highly demanded,' she said. 'Most of them have created land lots, but it's not like a house is going to pop up on land. That's going to take two or three years,' she said. 'It's so imbalanced between infrastructure, commercial development versus residential development. And when that happens, prices go up like this.' Apollo Bay is in Colac Otway Shire, which has experienced the highest growth in property prices compared with other local government areas. Credit: Jason South Mardiasmo said strong population growth, major public and private infrastructure projects, affordability and lingering hybrid work arrangements from the pandemic were also playing a role in growth. 'There's just been so much infrastructure, so much commercial development in those areas, that it's really lifted the areas up and it's making people want to move to these places.' She predicts more rate cuts this year will drive demand even further. 'Everyone's talking about a potential rate cut in August or September ... I think a lot of people are literally wanting to get into the market before there's more cash-rate cuts and the market becomes hotter,' she said.
Sydney Morning Herald
13 hours ago
- Sydney Morning Herald
E-bikes and e-scooters face Sydney train and metro ban
The government is considering plans to ban e-bikes and e-scooters from Sydney's train and metro network amid fears of onboard fires sparked by lithium batteries. In the same week as a portable charging pack caught fire mid-air on a Virgin flight, signs began popping up at Sydney train stations advising of a new request to keep e-bikes off trains. 'Please don't bring e-bikes, e-scooters and e-skateboards on board Sydney Trains services,' read the sign, which was shared online by cycling enthusiasts. 'Some lithium batteries can pose a fire risk.' But they were erected prematurely. NSW and Victorian state governments wrote to the federal government this week asking for stronger laws around the importation of low-quality e-bikes and e-scooters. Until that changes, Transport Minister John Graham said NSW was 'seriously considering options including a temporary ban on trains until we are satisfied that regulations are tight enough, with public safety as our highest priority'. If the government goes ahead with the ban, the posters will be used as a 'request' before the ban comes into effect. In briefings with stakeholder groups this week, Transport for NSW officials said they were planning to start a ban from September 1. E-bikes often contain lithium-ion batteries, which have become a major source of concern for fire authorities. They have regularly featured in home fires when e-bike and e-scooter chargers have caught fire overnight.
The Age
13 hours ago
- The Age
E-bikes and e-scooters face Sydney train and metro ban
The government is considering plans to ban e-bikes and e-scooters from Sydney's train and metro network amid fears of onboard fires sparked by lithium batteries. In the same week as a portable charging pack caught fire mid-air on a Virgin flight, signs began popping up at Sydney train stations advising of a new request to keep e-bikes off trains. 'Please don't bring e-bikes, e-scooters and e-skateboards on board Sydney Trains services,' read the sign, which was shared online by cycling enthusiasts. 'Some lithium batteries can pose a fire risk.' But they were erected prematurely. NSW and Victorian state governments wrote to the federal government this week asking for stronger laws around the importation of low-quality e-bikes and e-scooters. Until that changes, Transport Minister John Graham said NSW was 'seriously considering options including a temporary ban on trains until we are satisfied that regulations are tight enough, with public safety as our highest priority'. If the government goes ahead with the ban, the posters will be used as a 'request' before the ban comes into effect. In briefings with stakeholder groups this week, Transport for NSW officials said they were planning to start a ban from September 1. E-bikes often contain lithium-ion batteries, which have become a major source of concern for fire authorities. They have regularly featured in home fires when e-bike and e-scooter chargers have caught fire overnight.
