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Demand for some sectors of the used vehicle market has “fallen off a cliff”, according to a leading assessor, while demand for needs-based vehicles from “bubble hatches” to workhorse LandCruiser Toyota remains hot. Key points: A vehicle auctioneer says practicality, not status, now drives buying decisions The golden age of ag contributed to a huge demand for farm equipment and tools, along with an instant asset write-off of $150,000 LandCruiser in particular demands more used than new The COVID-19 production and delivery delays have created unprecedented demand in the used vehicle market. But auctioneer and appraiser Simon Cotter said with rising interest rates there is now a duality in the vehicle market, with demand for luxury vehicles falling while workhorse and budget options continue to sell at or even above retail prices. Our sale last week was the first sale since the COVID outbreak where, with certain products, the lack of interest was very noticeable on the auction floor, he s

Water boils a lot – whether it’s a cup of tea brewed in the kitchen or a power station that generates electricity. Any increase in the efficiency of this process will have a major impact on the overall amount of energy used for it each day. One such improvement could come with newly developed treatments for surfaces involved in heating and evaporating water. The treatment improves the two main parameters that determine the boiling process: heat transfer coefficient (HTC) and critical heat flux (CHF). Most of the time, there is a trade-off between the two – when one improves, the other worsens. After years of investigation, the research term behind this technique has found a way to improve both. “Both parameters are important, but raising the two parameters together is a bit tricky because they have an intrinsic trade-off,” said bioinformatics scientist Youngsup Song of the Lawrence Berkeley National Laboratory in California. “If we have a lot of bubbles on the boiling surface, that

“You can never go wrong with the inner city area… the market may be down at the moment but it won’t be like that forever.” Happy shopper Martin Muscat (right) with his father John Muscat. Credit: Peter Rae An experienced apartment renovator, Muscat says he has factored in the higher building costs when deciding what he will spend on the house. He plans to make some repairs and rent it out temporarily, before tackling a larger renovation. “We wanted to turn it into a contemporary four-bedroom residence, and definitely wanted to keep the facade… we’ve added a few hundred thousand dollars into what we initially thought would cost and let’s hope it doesn’t exceed that.” Sales agent Gerardo Ricco, of Ray White Hurstville, was surprised by the turnout given the cold market and rapidly rising building costs. He had expected about 10 bidders. “The owner will take a little less [than the reserve] if we have to because the market is like that, but we don’t have to, just take off,” he said.

Holding Redlich’s contemporary design approach has been launched in Brisbane, Cairns, Canberra. Now it’s Sydney and Melbourne’s turn. “In short, at Holding Redlich, open-plan and hot desking are out, and offices are in,” he said. “It’s clear from our people’s response that when you have your own office, or a shared office, you are much more comfortable working in an office.” The open layout and hot desk setup are enthusiastically welcomed by large companies, not only because they save space but because they are seen as encouraging team building and creativity. Other law firms have adopted a mixed style of office supplies. Arnold Bloch Leibler has largely closed offices across its national locations, including at 333 Collins Street in Melbourne, while Norton Rose Fulbright’s new office at 60 Martin Place, Sydney, has a hybrid layout. Despite employers’ desire to return staff to work, occupancy rates across the country have stalled. A June Property Board survey showed Sydney slumped to