Australia holds cards as global lithium shortage looms
Despite undergoing an expected tenfold explosion over the next five years, international lithium production is destined to fall short of soaring universal demand for electric vehicles.
The highly sought after alkali metal has become "as important as gasoline in the industrial revolution", according to Shanghai academic Qifan Xia.
"While lithium reserves are substantial around the world, they are distributed unevenly across different countries," he explains.
"So we were interested if the major EV markets can be self-sufficient."
In fact, the world's biggest lithium markets - China, Europe and the United States - account for 80 per cent of global EV sales but simply won't be able, by 2030, to meet their own demands.
For the planet's leading lithium producers - Australia and Chile - the future is therefore lucrative.
Dr Xia and his team at East China Normal University estimate the economic superpower will need up to 1.3 million metric tons of lithium carbonate equivalent - a standard measure of lithium content - to meet its new electric vehicle quota.
Europe could require 792,000 tons and the US 692,000.
Based on existing and proposed mining projects for all three, China might be able to produce somewhere between 804,000 and 1.1 million tons of equivalent by 2030.
Production in Europe could reach 325,000 tons and in the USA, between 229,000 and 610,000 tons.
The predictions suggest even the most ambitious plans to expand domestic mining would fall short, even if projects begin quickly.
Europe would face the largest gap, with modelling showing it would rely heavily on imports.
The researchers also warn that increased imports by one region would directly reduce access for others, exacerbating supply constraints and straining international trade relations.
In one scenario they calculated, an increase of 77 per cent in Chinese imports would mean imports to the US would drop by 84 per cent and to Europe by 78 per cent.
Most of Australia's lithium is produced from hard-rock spodumene, in contrast to other major producers like Argentina, Chile and China, which produce it mainly from salt lakes.
A 2023 estimate suggested Australian production will hit a cap of 1.2 million tonnes of equivalent by 2030 and it will remain the top producer but with a smaller proportion of the world's production.
It is currently the biggest producer of lithium by weight, with most extraction undertaken in Western Australia including at the worlds largest hard-rock mine, Greenbushes.
Dr Xia says other means of avoiding a looming lithium crisis might include adopting battery technologies that use less or no lithium, or shifting consumer focus to promoting public transport.
"Our study showed that without immediate action to expand mining, diversify suppliers and rethink how we manage demand, the world risks delays in meeting critical climate and energy goals," he said.
Despite undergoing an expected tenfold explosion over the next five years, international lithium production is destined to fall short of soaring universal demand for electric vehicles.
The highly sought after alkali metal has become "as important as gasoline in the industrial revolution", according to Shanghai academic Qifan Xia.
"While lithium reserves are substantial around the world, they are distributed unevenly across different countries," he explains.
"So we were interested if the major EV markets can be self-sufficient."
In fact, the world's biggest lithium markets - China, Europe and the United States - account for 80 per cent of global EV sales but simply won't be able, by 2030, to meet their own demands.
For the planet's leading lithium producers - Australia and Chile - the future is therefore lucrative.
Dr Xia and his team at East China Normal University estimate the economic superpower will need up to 1.3 million metric tons of lithium carbonate equivalent - a standard measure of lithium content - to meet its new electric vehicle quota.
Europe could require 792,000 tons and the US 692,000.
Based on existing and proposed mining projects for all three, China might be able to produce somewhere between 804,000 and 1.1 million tons of equivalent by 2030.
Production in Europe could reach 325,000 tons and in the USA, between 229,000 and 610,000 tons.
The predictions suggest even the most ambitious plans to expand domestic mining would fall short, even if projects begin quickly.
Europe would face the largest gap, with modelling showing it would rely heavily on imports.
The researchers also warn that increased imports by one region would directly reduce access for others, exacerbating supply constraints and straining international trade relations.
In one scenario they calculated, an increase of 77 per cent in Chinese imports would mean imports to the US would drop by 84 per cent and to Europe by 78 per cent.
Most of Australia's lithium is produced from hard-rock spodumene, in contrast to other major producers like Argentina, Chile and China, which produce it mainly from salt lakes.
A 2023 estimate suggested Australian production will hit a cap of 1.2 million tonnes of equivalent by 2030 and it will remain the top producer but with a smaller proportion of the world's production.
It is currently the biggest producer of lithium by weight, with most extraction undertaken in Western Australia including at the worlds largest hard-rock mine, Greenbushes.
Dr Xia says other means of avoiding a looming lithium crisis might include adopting battery technologies that use less or no lithium, or shifting consumer focus to promoting public transport.
"Our study showed that without immediate action to expand mining, diversify suppliers and rethink how we manage demand, the world risks delays in meeting critical climate and energy goals," he said.
Despite undergoing an expected tenfold explosion over the next five years, international lithium production is destined to fall short of soaring universal demand for electric vehicles.
The highly sought after alkali metal has become "as important as gasoline in the industrial revolution", according to Shanghai academic Qifan Xia.
"While lithium reserves are substantial around the world, they are distributed unevenly across different countries," he explains.
"So we were interested if the major EV markets can be self-sufficient."
In fact, the world's biggest lithium markets - China, Europe and the United States - account for 80 per cent of global EV sales but simply won't be able, by 2030, to meet their own demands.
For the planet's leading lithium producers - Australia and Chile - the future is therefore lucrative.
Dr Xia and his team at East China Normal University estimate the economic superpower will need up to 1.3 million metric tons of lithium carbonate equivalent - a standard measure of lithium content - to meet its new electric vehicle quota.
Europe could require 792,000 tons and the US 692,000.
Based on existing and proposed mining projects for all three, China might be able to produce somewhere between 804,000 and 1.1 million tons of equivalent by 2030.
Production in Europe could reach 325,000 tons and in the USA, between 229,000 and 610,000 tons.
The predictions suggest even the most ambitious plans to expand domestic mining would fall short, even if projects begin quickly.
Europe would face the largest gap, with modelling showing it would rely heavily on imports.
The researchers also warn that increased imports by one region would directly reduce access for others, exacerbating supply constraints and straining international trade relations.
In one scenario they calculated, an increase of 77 per cent in Chinese imports would mean imports to the US would drop by 84 per cent and to Europe by 78 per cent.
Most of Australia's lithium is produced from hard-rock spodumene, in contrast to other major producers like Argentina, Chile and China, which produce it mainly from salt lakes.
A 2023 estimate suggested Australian production will hit a cap of 1.2 million tonnes of equivalent by 2030 and it will remain the top producer but with a smaller proportion of the world's production.
It is currently the biggest producer of lithium by weight, with most extraction undertaken in Western Australia including at the worlds largest hard-rock mine, Greenbushes.
Dr Xia says other means of avoiding a looming lithium crisis might include adopting battery technologies that use less or no lithium, or shifting consumer focus to promoting public transport.
"Our study showed that without immediate action to expand mining, diversify suppliers and rethink how we manage demand, the world risks delays in meeting critical climate and energy goals," he said.
Despite undergoing an expected tenfold explosion over the next five years, international lithium production is destined to fall short of soaring universal demand for electric vehicles.
The highly sought after alkali metal has become "as important as gasoline in the industrial revolution", according to Shanghai academic Qifan Xia.
"While lithium reserves are substantial around the world, they are distributed unevenly across different countries," he explains.
"So we were interested if the major EV markets can be self-sufficient."
In fact, the world's biggest lithium markets - China, Europe and the United States - account for 80 per cent of global EV sales but simply won't be able, by 2030, to meet their own demands.
For the planet's leading lithium producers - Australia and Chile - the future is therefore lucrative.
Dr Xia and his team at East China Normal University estimate the economic superpower will need up to 1.3 million metric tons of lithium carbonate equivalent - a standard measure of lithium content - to meet its new electric vehicle quota.
Europe could require 792,000 tons and the US 692,000.
Based on existing and proposed mining projects for all three, China might be able to produce somewhere between 804,000 and 1.1 million tons of equivalent by 2030.
Production in Europe could reach 325,000 tons and in the USA, between 229,000 and 610,000 tons.
The predictions suggest even the most ambitious plans to expand domestic mining would fall short, even if projects begin quickly.
Europe would face the largest gap, with modelling showing it would rely heavily on imports.
The researchers also warn that increased imports by one region would directly reduce access for others, exacerbating supply constraints and straining international trade relations.
In one scenario they calculated, an increase of 77 per cent in Chinese imports would mean imports to the US would drop by 84 per cent and to Europe by 78 per cent.
Most of Australia's lithium is produced from hard-rock spodumene, in contrast to other major producers like Argentina, Chile and China, which produce it mainly from salt lakes.
A 2023 estimate suggested Australian production will hit a cap of 1.2 million tonnes of equivalent by 2030 and it will remain the top producer but with a smaller proportion of the world's production.
It is currently the biggest producer of lithium by weight, with most extraction undertaken in Western Australia including at the worlds largest hard-rock mine, Greenbushes.
Dr Xia says other means of avoiding a looming lithium crisis might include adopting battery technologies that use less or no lithium, or shifting consumer focus to promoting public transport.
"Our study showed that without immediate action to expand mining, diversify suppliers and rethink how we manage demand, the world risks delays in meeting critical climate and energy goals," he said.
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World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. 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"It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce.. World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. Earlier in the day, Chinese blue chips added 0.24 per cent, and Hong Kong gained 0.7 per cent as data showed Chinese retail sales rose 6.4 per cent in May to handily top forecasts, while industrial output was in line with expectations. In currency markets, the dollar gave back of some of last Friday's gains against European currencies - the euro was up 0.3 per cent at $US1.1582 ($A1.7785) - and held steady on the Japanese yen at 144.10. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. "We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices," noted analysts at Deutsche Bank. "It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce.. World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. Earlier in the day, Chinese blue chips added 0.24 per cent, and Hong Kong gained 0.7 per cent as data showed Chinese retail sales rose 6.4 per cent in May to handily top forecasts, while industrial output was in line with expectations. In currency markets, the dollar gave back of some of last Friday's gains against European currencies - the euro was up 0.3 per cent at $US1.1582 ($A1.7785) - and held steady on the Japanese yen at 144.10. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. "We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices," noted analysts at Deutsche Bank. "It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce.. World shares have nudged up, with oil prices steadier but holding on to most of last week's increase, as the conflict between Israel and Iran added further uncertainty to the world's economic troubles in a week packed with central bank meetings. The escalation in the Middle East came just as Group of Seven leaders were gathering in Canada, with US President Donald Trump's tariffs already straining ties. Yet there was no sign of panic among investors on Monday as currency markets stayed calm and Wall Street stock futures firmed after an early dip. Brent was last off 0.5 per cent at $US73.85 ($A113.40) a barrel,, but last week's 13 per cent surge means its inflationary pulse, if sustained, could make the Federal Reserve more nervous about giving too many hints at its Wednesday meeting about interest rate cuts later in the year. Markets are still wagering on two easings by December, with a first move in September seen as most likely. "The key is how much flexibility the Fed thinks it has, we've been pleasantly surprised we've not yet seen in inflationary pass-through from the tariffs," said Ben Laidler, head of equity strategy at Bradesco BBI. "The situation in the Middle East is the major issue of the day. The message from the market is that it isn't too afraid, but it does turn what was already going to be a busy week into a frenetic one, and that has a lot of people on the sidelines." Data on US retail sales on Tuesday will also be a hurdle, as a pullback in autos could drag the headline down even as core sales edge higher. A market holiday on Thursday means weekly jobless claims figures are out on Wednesday. For now, investors were waiting on developments and MSCI's all-country world share index gained 0.2 per cent, to sit a touch below last week's record high. Europe's STOXX 600 rose 0.3 per cent and S&P 500 futures rose 0.5 per cent. Earlier in the day, Chinese blue chips added 0.24 per cent, and Hong Kong gained 0.7 per cent as data showed Chinese retail sales rose 6.4 per cent in May to handily top forecasts, while industrial output was in line with expectations. In currency markets, the dollar gave back of some of last Friday's gains against European currencies - the euro was up 0.3 per cent at $US1.1582 ($A1.7785) - and held steady on the Japanese yen at 144.10. The spike in oil prices is a negative for the yen and euro at the margin as both Japan and the EU are major importers of energy, while the United States is an exporter. Currencies from oil exporters Norway and Canada both benefited, with the Norwegian crown hitting its highest since early 2023. "We should expect that economies with a positive energy trade balance should see their currencies benefiting from the shock to oil prices," noted analysts at Deutsche Bank. "It's notable the dollar is in this category, highlighting how the US has moved from a net energy-importer to a net exporter in recent years." Central banks in Norway and Sweden meet this week, with the latter thought likely to trim rates. The Swiss National Bank meets on Thursday and is considered certain to cut by at least a quarter point to take rates to zero, with some chance it may go negative given the strength of the Swiss franc. The Bank of Japan holds a policy meeting on Tuesday and is widely expected to hold rates at 0.5 per cent, while leaving open the possibility of tightening later in the year. There is also speculation it could consider slowing the rundown of its government bond holdings from next fiscal year. Government bond yields nudged higher around the world. The US 10-year Treasury yield was last up 1 bp at 4.44 per cent Germany's 10-year Bund yield was up nearly 3 bps at 2.56 per cent. The calmer mood across markets saw some of gold's safe-haven bid reverse and it was down 0.55 per cent at $US3,413 ($A5,241) an ounce..
The Advertiser
2 hours ago
- The Advertiser
Divorcees, widows 'slipping through the cracks' in housing market
With the median Australian house price of all capital cities combined now hitting a whopping $1,025,742, the dream of home ownership has become even more of a struggle - especially for mature, single women. And while the government normally focuses on the younger generation getting their foot on the property ladder, it overlooks the struggle that older Aussies face who want to buy a home, according to experts. Mortgage Expert, Debbie Hays told The Senior getting a mortgage is tough for older Australians, even when there's a large deposit and they work full-time. For many women, getting a divorce later in life can leave them with a deposit when household assets are divided - but it's rarely enough to buy a place on their own without a loan. Read more from The Senior: Widows can also find themselves with housing insecurity due to lack of funds. "Banks are required to ensure that you can service and repay your loan in full during its loan term," Ms Hays said. "Which often means assessing whether it can be paid off before you reach retirement age or that you have a tangible exit strategy in place for any remaining debt at your retirement age." The mortgage expert said lenders are "cautious" of borrowers in their 50s and 60s and their application will be "heavily assessed". "Unless you can prove you'll continue working into retirement or have a clear exit strategy, like downsizing or using super to pay off the loan," she said. Bricks and More Developer and Property Flipper Jo Yates told The Senior she has noticed in recent years how many more women have been "slippping through the cracks". "I know that there's quite a lot of women having to live in cars now, which is just shocking," she said. The developer said she wants to be part of the solution of helping women find affordable accommodation, but says council regulations and red tape are stopping creative ideas. "Councils need to come to the party as well," she said, noting more land needs to be released while in many cases zoning laws were outdated and also needed changing. The developer points to tiny homes being a possible cost-effective solution, but council rules in many parts of Australia make it nearly impossible for people to live in one long-term. "On the Sunshine Coast and Hinterland, you can only have tiny homes on land if they're moveable," Ms Yates said. "And then it's only, I think, 180 days to stay on land. That's not feasible. If you've got to move it after 180 days, that's still no security." Ms Yates also sees rezoning costs as a problem in Queensland after coming up against a $180,000 bill to rezone a double block to be able to build three dwellings. "That one block of land could have accommodated three families," she said. Ms Yates is now focusing on micro apartments (small self-contained living spaces) within homes as a possible solution. "There's a movement towards rooms in houses and micro apartments," she said. "You'll take a family home and turn it into four micro apartments, and then they'll have communal areas." Another solution the developer is exploring is building affordable homes on a communal block of land. Women can buy in with their small deposits, which would be enough to own a small home or cabin - because they would not be buying the land. "I would like to create a little community on land that is strata titled," Ms Yates said. "They own the right to that property, and they can sell that on. "I just need councils and banks to join me and I can try and do something." Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE. With the median Australian house price of all capital cities combined now hitting a whopping $1,025,742, the dream of home ownership has become even more of a struggle - especially for mature, single women. And while the government normally focuses on the younger generation getting their foot on the property ladder, it overlooks the struggle that older Aussies face who want to buy a home, according to experts. Mortgage Expert, Debbie Hays told The Senior getting a mortgage is tough for older Australians, even when there's a large deposit and they work full-time. For many women, getting a divorce later in life can leave them with a deposit when household assets are divided - but it's rarely enough to buy a place on their own without a loan. Read more from The Senior: Widows can also find themselves with housing insecurity due to lack of funds. "Banks are required to ensure that you can service and repay your loan in full during its loan term," Ms Hays said. "Which often means assessing whether it can be paid off before you reach retirement age or that you have a tangible exit strategy in place for any remaining debt at your retirement age." The mortgage expert said lenders are "cautious" of borrowers in their 50s and 60s and their application will be "heavily assessed". "Unless you can prove you'll continue working into retirement or have a clear exit strategy, like downsizing or using super to pay off the loan," she said. Bricks and More Developer and Property Flipper Jo Yates told The Senior she has noticed in recent years how many more women have been "slippping through the cracks". "I know that there's quite a lot of women having to live in cars now, which is just shocking," she said. The developer said she wants to be part of the solution of helping women find affordable accommodation, but says council regulations and red tape are stopping creative ideas. "Councils need to come to the party as well," she said, noting more land needs to be released while in many cases zoning laws were outdated and also needed changing. The developer points to tiny homes being a possible cost-effective solution, but council rules in many parts of Australia make it nearly impossible for people to live in one long-term. "On the Sunshine Coast and Hinterland, you can only have tiny homes on land if they're moveable," Ms Yates said. "And then it's only, I think, 180 days to stay on land. That's not feasible. If you've got to move it after 180 days, that's still no security." Ms Yates also sees rezoning costs as a problem in Queensland after coming up against a $180,000 bill to rezone a double block to be able to build three dwellings. "That one block of land could have accommodated three families," she said. Ms Yates is now focusing on micro apartments (small self-contained living spaces) within homes as a possible solution. "There's a movement towards rooms in houses and micro apartments," she said. "You'll take a family home and turn it into four micro apartments, and then they'll have communal areas." Another solution the developer is exploring is building affordable homes on a communal block of land. Women can buy in with their small deposits, which would be enough to own a small home or cabin - because they would not be buying the land. "I would like to create a little community on land that is strata titled," Ms Yates said. "They own the right to that property, and they can sell that on. "I just need councils and banks to join me and I can try and do something." Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE. With the median Australian house price of all capital cities combined now hitting a whopping $1,025,742, the dream of home ownership has become even more of a struggle - especially for mature, single women. And while the government normally focuses on the younger generation getting their foot on the property ladder, it overlooks the struggle that older Aussies face who want to buy a home, according to experts. Mortgage Expert, Debbie Hays told The Senior getting a mortgage is tough for older Australians, even when there's a large deposit and they work full-time. For many women, getting a divorce later in life can leave them with a deposit when household assets are divided - but it's rarely enough to buy a place on their own without a loan. Read more from The Senior: Widows can also find themselves with housing insecurity due to lack of funds. "Banks are required to ensure that you can service and repay your loan in full during its loan term," Ms Hays said. "Which often means assessing whether it can be paid off before you reach retirement age or that you have a tangible exit strategy in place for any remaining debt at your retirement age." The mortgage expert said lenders are "cautious" of borrowers in their 50s and 60s and their application will be "heavily assessed". "Unless you can prove you'll continue working into retirement or have a clear exit strategy, like downsizing or using super to pay off the loan," she said. Bricks and More Developer and Property Flipper Jo Yates told The Senior she has noticed in recent years how many more women have been "slippping through the cracks". "I know that there's quite a lot of women having to live in cars now, which is just shocking," she said. The developer said she wants to be part of the solution of helping women find affordable accommodation, but says council regulations and red tape are stopping creative ideas. "Councils need to come to the party as well," she said, noting more land needs to be released while in many cases zoning laws were outdated and also needed changing. The developer points to tiny homes being a possible cost-effective solution, but council rules in many parts of Australia make it nearly impossible for people to live in one long-term. "On the Sunshine Coast and Hinterland, you can only have tiny homes on land if they're moveable," Ms Yates said. "And then it's only, I think, 180 days to stay on land. That's not feasible. If you've got to move it after 180 days, that's still no security." Ms Yates also sees rezoning costs as a problem in Queensland after coming up against a $180,000 bill to rezone a double block to be able to build three dwellings. "That one block of land could have accommodated three families," she said. Ms Yates is now focusing on micro apartments (small self-contained living spaces) within homes as a possible solution. "There's a movement towards rooms in houses and micro apartments," she said. "You'll take a family home and turn it into four micro apartments, and then they'll have communal areas." Another solution the developer is exploring is building affordable homes on a communal block of land. Women can buy in with their small deposits, which would be enough to own a small home or cabin - because they would not be buying the land. "I would like to create a little community on land that is strata titled," Ms Yates said. "They own the right to that property, and they can sell that on. "I just need councils and banks to join me and I can try and do something." Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE. With the median Australian house price of all capital cities combined now hitting a whopping $1,025,742, the dream of home ownership has become even more of a struggle - especially for mature, single women. And while the government normally focuses on the younger generation getting their foot on the property ladder, it overlooks the struggle that older Aussies face who want to buy a home, according to experts. Mortgage Expert, Debbie Hays told The Senior getting a mortgage is tough for older Australians, even when there's a large deposit and they work full-time. For many women, getting a divorce later in life can leave them with a deposit when household assets are divided - but it's rarely enough to buy a place on their own without a loan. Read more from The Senior: Widows can also find themselves with housing insecurity due to lack of funds. "Banks are required to ensure that you can service and repay your loan in full during its loan term," Ms Hays said. "Which often means assessing whether it can be paid off before you reach retirement age or that you have a tangible exit strategy in place for any remaining debt at your retirement age." The mortgage expert said lenders are "cautious" of borrowers in their 50s and 60s and their application will be "heavily assessed". "Unless you can prove you'll continue working into retirement or have a clear exit strategy, like downsizing or using super to pay off the loan," she said. Bricks and More Developer and Property Flipper Jo Yates told The Senior she has noticed in recent years how many more women have been "slippping through the cracks". "I know that there's quite a lot of women having to live in cars now, which is just shocking," she said. The developer said she wants to be part of the solution of helping women find affordable accommodation, but says council regulations and red tape are stopping creative ideas. "Councils need to come to the party as well," she said, noting more land needs to be released while in many cases zoning laws were outdated and also needed changing. The developer points to tiny homes being a possible cost-effective solution, but council rules in many parts of Australia make it nearly impossible for people to live in one long-term. "On the Sunshine Coast and Hinterland, you can only have tiny homes on land if they're moveable," Ms Yates said. "And then it's only, I think, 180 days to stay on land. That's not feasible. If you've got to move it after 180 days, that's still no security." Ms Yates also sees rezoning costs as a problem in Queensland after coming up against a $180,000 bill to rezone a double block to be able to build three dwellings. "That one block of land could have accommodated three families," she said. Ms Yates is now focusing on micro apartments (small self-contained living spaces) within homes as a possible solution. "There's a movement towards rooms in houses and micro apartments," she said. "You'll take a family home and turn it into four micro apartments, and then they'll have communal areas." Another solution the developer is exploring is building affordable homes on a communal block of land. Women can buy in with their small deposits, which would be enough to own a small home or cabin - because they would not be buying the land. "I would like to create a little community on land that is strata titled," Ms Yates said. "They own the right to that property, and they can sell that on. "I just need councils and banks to join me and I can try and do something." Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE.
The Age
2 hours ago
- The Age
Embattled Monash IVF moves to hobble defecting executive's move to rival
Monash IVF is seeking to hobble the defection of one of its top executives as it reels from a series of scandals, investigations and a plunging share price. The embattled fertility giant has launched action in the Supreme Court of Victoria in a bid to limit the work its departing chief operations officer, Dr Hamish Hamilton, is allowed to undertake in a senior role at its biggest rival, Virtus Health. The action comes as Monash was on Monday forced to respond to another please-explain order from the Australian stock exchange over claims it delayed informing the sharemarket of an embryo mix-up – the second such error and resulting notice issued to them this year. After decade in senior roles at Monash IVF, including the last five as its chief operating officer, Hamilton last week began duties as Virtus' chief operating officer and head of international business. His departure and the related court battle add to the public troubles for Monash IVF – including a $56 million class action involving more than 700 patients, two separate cases of women being implanted with a wrong embryo and the resignation of its chief executive officer – which have prompted an overhaul of the way Australia's reproductive technology sector is regulated. As investigations continue into how its patients were affected by its recent errors, Monash IVF on Monday focussed its attention on the court proceedings where it sought an injunction to prevent Hamilton undertaking aspects of his new role. Appearing for Monash IVF, Richard Dalton, KC, asked the court to impose limits on Hamilton's employment at Virtus until March 3, 2026, stating he had been the 'author' of Monash IVF's Vision 2026 strategic business plan and was well placed to act on commercial secrets. Monash IVF sought orders barring Hamilton from overseeing 'non-core IVF activities' such as day hospitals, ultrasounds and donor banks within Australia, and instead requested he be limited to overseeing Virtus' international donor operations. 'Dr Hamilton, as COO, was instrumental in that strategy and he knows what Monash IVF's plans are,' Dalton said.
