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Herald Sun
2 days ago
- Business
- Herald Sun
Retail giants snub Tasmania: Why Aldi, Costco resist expansion
Tasmanians have long been yearning for the arrival of Aldi and Costco, two retail powerhouses known for their competitive pricing and diverse offerings. Yet, despite the island state's growing demand, both companies remain conspicuously absent, leaving locals to question why they are being overlooked in the retail landscape. Aldi, the German-owned supermarket chain, has made its mark across Australia since 2001, boasting over 590 stores nationwide. Promising 'Australia's lowest prices', Aldi has become a staple for budget-conscious shoppers. However, Tasmania remains one of the few jurisdictions, alongside the Northern Territory, where Aldi has yet to establish a presence. The Greens have now stepped forward with a $30 million plan to entice Aldi to Tasmania, arguing that the supermarket's entry would drive down grocery prices and invigorate the local economy. This initiative reflects a strategic push to provide Tasmanians with more affordable shopping options and stimulate job creation. MORE NEWS Inside Australia's haunting mall mystery What ever happened to Hog's Breath Cafe? Remembering Sizzler: The rise and fall of a dining icon Meanwhile, Costco, renowned for its bulk-buying model and expansive warehouse stores, also remains absent from Tasmania. Ray White Group head of research Vanessa Rader said the lack of both Aldi and Costco had left Tasmanians with limited choices and potentially higher grocery bills compared to their mainland counterparts. However, she adds the reason for their absence was perhaps easy to explain. 'It all comes down to population and scale…they just couldn't make it work there because it does need the additional kind of industry or what not,' she said. 'With Costco, I don't think (the Tasmanian) market would sustain any more than one store, so that, plus the additional requirement for distribution…makes it not a viable situation. 'Aldi is a little bit different because you already have your Woolies and Coles, which means the population just isn't there to compete with what's already there 'I think it's a market that's already at capacity in terms of what their requirement for supermarkets is. So I think Aldi is thinking that the market is quite small…so unless there's a change in that population landscape, things aren't going to change and then you also have geographical difficulties in getting stuff there.' Greens announce $30m plan to entice Aldi to Tasmania While logistical concerns, market size, and population density may be factors, the persistent demand from locals suggests a ripe opportunity for expansion. As the situation unfolds, Tasmanians are left wondering if and when these retail powerhouses will recognise the untapped potential of the island state. The Greens' $30 million proposal stands as a significant gesture towards bridging this retail gap, but whether it will be enough to sway Aldi and Costco remains uncertain. Tasmanian Greens Senator Nick McKim, who is the party's economic justice spokesman, announced the plan in April, saying bringing Aldi to Tasmania would help ease cost-of-living pressures in the state. 'Coles and Woolworths have had it too good for too long, and Tasmanians are paying the price,' he said. 'A lack of competition means shoppers here are paying at least $15 more on a basket of essential groceries compared to Aldi, which adds up to hundreds of dollars a year.' MORE NEWS: Ampol's $20m Land Bonanza: What's Next? Senator McKim said the Greens would launch a $2m supermarket competition review that would determine the barriers preventing discount supermarkets such as Aldi from establishing themselves on the Apple Isle. The party would then provide the state government with up to $28m to support the entry of new competitors in the supermarket sector, which could involve subsidising distribution centres, boosting supply chains, and making government land available to supermarket retailers on a competitive basis. Senator launches petition to being Aldi to Tasmania Tasmanian independent senator Tammy Tyrrell has also pushed for Aldi to head south to the island state, launching a petition that has attracted thousands of signatures. 'They say imitation is the best form of flattery (and) I'm glad the Greens are finally on board my campaign to bring Aldi to Tassie,' she said. 'The more the merrier – if this puts more pressure on Aldi to make the leap across Bass Strait, I'm happy with that. 'The (Australian Competition and Consumer Commission) says bringing Aldi to town saves people an average of $890 a year. That could be the difference for someone keeping their heater on in winter or not.' Tasmanian MP Andrew Jenner from the Jacqui Lambie Network is also calling on the state government to invest $1 million in a study to explore the possibility of bringing a Costco or similar low-cost supermarket chain to the island state. 'Research from consumer group Choice has found that the average cost of groceries in Tasmania is 25 per cent higher than on the mainland, despite Tasmanian wages being an average of 10 per cent lower,' Jenner said. 'The report stated that the lack of ALDI, or equivalent low-cost supermarkets in Tasmania is directly contributing to the higher-than-average grocery prices. 'Bringing Costco, or a Costco equivalent, would directly help alleviate the cost-of-living pressures in a fundamental way.' Aldi has 'no current plan' to come to Tasmania, CEO says A report published last year by consumer group CHOICE found that Aldi was the most affordable supermarket chain in the country, with the total price of an average basket of groceries being $50.79. While Aldi has almost 600 stores across Australia, Tasmania is the only state without one. Even Geelong, which is a similar size to Hobart, is home to Aldi. Speaking at a Senate inquiry in April last year, Aldi CEO Anna McGrath said the chain had 'no current plan' to open a store in Tasmania, citing supply chain 'complexities'. 'That's not to say that we don't continuously review where we may expand in the future,' she said. When asked why Aldi was expanding to other smaller regions but not Hobart, Ms McGrath replied it 'goes back to us having a very different business model'. 'For us, the way that we're able to continue to invest in price is to keep our operating costs as low as possible and having the lowest operating costs in the sector,' she said. 'That means when we're identifying where to expand, we do need to consider the additional costs and complexities that are involved.' The unfolding situation highlights a pressing issue: will Tasmania continue to be sidelined in the retail landscape, or will Aldi and Costco finally answer the call of its residents? The outcome could reshape the state's retail environment and consumer experience for years to come.
Courier-Mail
26-05-2025
- Business
- Courier-Mail
Most expensive Aussie city for car parking revealed
Fifty cent public transport fares have done little to stop Brisbane drivers from getting behind the wheel, with the cost of parking more expensive than Sydney, new research reveals. The Queensland capital's CBD has retained its position as Australia's most expensive parking market for the second straight year, with daily casual rates now averaging $80.84 or about $400 a week — surpassing Sydney's $77. Ray White Group's head of research Vanessa Rader said she was surprised so many commuters were still choosing to pay $80 a day for parking, over $1 a day for public transport — one year on from the 50 cent fares being announced. RELATED: Park that! What would you pay to park your car in Australia? 'Why wouldn't you take public transport given there's such a price disparity between parking your car and taking the bus?' Ms Rader said. 'I think there was a lot of interest in taking up 50 cent fares early on, but issues with associated parking, perhaps, at train stations and near buses made it not as easy to utilise services as initially hoped. 'It's good to see (the fares are) still in effect, given the cost of living issues. As traffic and congestion gets worse, the hope… is that people will look at alternatives and it will save them money.' MORE: Origin star Harry Grant adds to growing property portfolio ahead of game 1 First Look: Inside the $15m restoration of this renowned city hotel The research, released today, by Ray White also reflects Brisbane's limited parking supply coupled with stronger office attendance, demonstrated by its 10.2 per cent office vacancy rate. 'If prices are going up, that means that there's demand, which means people are coming into the office, the city's more vibrant, and there's more activity going on,' Ms Rader said. '(Brisbane's) office takeup over the past 12 months has outperformed other places.' But Brisbane parking operators still offer substantial discounts of 55.5 per cent for online bookings and 57.9 per cent for early bird parkers, revealing continued competition for regular commuters despite the market's strength. Melbourne is becoming one of the cheaper markets for parking, with daily rates of $64.43 below 2013 levels ($65.00). This decline mirrors Melbourne's struggling office market, which maintains the highest vacancy rate among Australian CBDs at 18 per cent and continues to experience negative occupied stock change. Sydney's average parking rate of $77 is well below its 2023 peak of $85.05, while Hobart's sits at $18.83 and has the lowest office vacancy rate among all CBDs at just 3.6 per cent. It comes as a recent report revealed the eye watering amount being charged by homeowners to rent vacant car spaces in Brisbane's inner-city area. The Parkin' Mad report by NRMA and Bitzios Consulting found Brisbane drivers were splashing out around $60 a day. A vacant car park at Ballow Chambers in Spring Hill is currently listed for $37,500 a year. Another car park, also in Spring Hill, is listed for sale for $47,500 on while another is listed for rent for $300 a month. NRMA spokesman Peter Khoury said part of the reason parking prices had risen to unreasonable levels was due to policies decreasing the number of available parking spots. 'It's a culmination of a number of things: construction and rezoning, the building of cycle paths and building shared paths has seen a lot of parking lost in recent years,' Mr Khoury said. 'Less parking options is obviously going to increase costs.' He said the continued reduction of on-street parking meant more people needed to rely on expensive parking stations and called on the government to set a cap on parking fees. In February, Brisbane City Council reduced car parking requirements for inner-city apartment buildings as part of its Inner-City Affordability Initiative. Property Council Queensland executive director Jess Caire said the decision would help drive down the cost of building inner-city apartments. 'As outlined in our research, car parking is estimated to add an extra $100,000 to the cost of an apartment for 'at grade' car parks, and more for basement car parks,' Ms Caire said. Ms Rader said renting out private car spaces may become more common in Brisbane, particularly given the new parking requirements. 'If there's going to be less parking with new developments, you'd think (renting a car park) could be quite attractive to people,' she said. 'It could be a good little income earner for those who don't have a car.' Additional reporting by Samantha Healy
Yahoo
25-05-2025
- Business
- Yahoo
$3 million super change sparks property warning as 'panic' selling begins: 'Forced to sell'
Australians are expected to sell off their investment properties to avoid the looming tax on superannuation savings worth more than $3 million. Financial advisers have told Yahoo Finance there is a 'tangible sense of unease' amongst their clients, with some wealthy retirees beginning to 'panic' sell due to the upcoming change. The controversial superannuation tax will double the existing tax rate from 15 to 30 per cent for earnings on super balances above $3 million, including unrealised capital gains. The changes are scheduled to come into effect on July 1, following the passing of legislation. Ray White head of research Vanessa Rader said this marked the first time unrealised gains would be subject to taxation in the superannuation environment, presenting 'unique challenges' for residential property investments within self-managed super funds (SMSFs). RELATED Retirement warning as controversial $3 million superannuation tax change looms: 'Be proactive' Most in-demand tradie jobs paying nearly $3,200 per week amid crisis: 'Shining a light' Major backflip from world's most cashless country as Australia mulls money law 'When a property experiences significant capital appreciation on paper, the resulting tax liability would require cash payment even though no actual sale has occurred,' she said. 'Unlike shareholders who can sell a portion of their holdings to cover tax obligations, property is indivisible, creating potential liquidity crises for SMSF trustees.' Rader gave the example of an SMSF with a $2.5 million residential investment property that appreciated to $3.5 million. This would trigger tax obligations on the unrealised portion of the gain above the $3 million threshold. 'Without adequate cash reserves, trustees might be forced to sell the entire property or seek alternative funding sources to meet these obligations,' she said. Residential properties held within SMSFs already have strict rules around them. For example, they can't be rented or occupied by fund members or their relatives. This, combined with the super tax changes, may 'significantly reduce' the attractiveness of residential property as an SMSF investment vehicle and drive people out of the market. 'This could lead to broader market implications such as potential listing supply increases and a shrinking pool of rental properties if SMSF trustees reconsider their investment strategies or restructure their portfolios before the implementation date,' Rader said. The tax change could drive structural shifts in residential property investment patterns, including a reduction in SMSF residential property holdings, particularly for those approaching the $3 million threshold.' Rader said investors could turn to commercial properties that might deliver stronger income yields relative to capital growth, move assets to structures outside of super, or focus on tax-exempt primary residences. 'In the long term, this policy could impact residential property valuations in specific market segments,' she said. 'Properties typically favoured by SMSF investors are often in the middle to upper price brackets in metropolitan areas, and might experience pricing adjustments as demand from this investor class diminishes.' Mintwell financial adviser Josef Jindra said he was seeing a 'tangible sense of unease' amongst clients, particularly those who had spent years diligently building up their super balances. 'For my clients approaching or exceeding the $3 million mark, we're having in-depth conversations about tailored strategies,' he told Yahoo Finance. 'This may include planning withdrawal strategies to stay below the threshold, diversifying investment holdings outside of superannuation to enhance flexibility, and reducing exposure to the higher tax rate.' Melbourne-based tax adviser Noel Beharis echoed this, saying there was a 'significant amount of panic' among SMSF members. 'For members of retirement age who can cash out their superannuation benefits, they have started the process of selling down assets and transferring the assets out of the fund to vehicles that will hold that wealth going forward,' he told The Australian Financial Review. The Treasury estimates the changes will only impact 80,000 people, or 0.5 per cent of the population. However, the Financial Services Council projects that more than 500,000 people who are working today will be impacted by the tax over their lifetime. Research by AMP deputy chief economist Diana Mousina found that at least half of Gen Z would hit the $3 million mark by the time they retire due to wage inflation and compound while retrieving data Sign in to access your portfolio Error while retrieving data
News.com.au
25-05-2025
- Automotive
- News.com.au
Most expensive Aussie city for car parking revealed
Fifty cent public transport fares have done little to stop Brisbane drivers from getting behind the wheel, with the cost of parking more expensive than Sydney, new research reveals. The Queensland capital's CBD has retained its position as Australia's most expensive parking market for the second straight year, with daily casual rates now averaging $80.84 or about $400 a week — surpassing Sydney's $77. Ray White Group's head of research Vanessa Rader said she was surprised so many commuters were still choosing to pay $80 a day for parking, over $1 a day for public transport — one year on from the 50 cent fares being announced. RELATED: Park that! What would you pay to park your car in Australia? 'Why wouldn't you take public transport given there's such a price disparity between parking your car and taking the bus?' Ms Rader said. 'I think there was a lot of interest in taking up 50 cent fares early on, but issues with associated parking, perhaps, at train stations and near buses made it not as easy to utilise services as initially hoped. 'It's good to see (the fares are) still in effect, given the cost of living issues. As traffic and congestion gets worse, the hope... is that people will look at alternatives and it will save them money.' The research, released today, by Ray White also reflects Brisbane's limited parking supply coupled with stronger office attendance, demonstrated by its 10.2 per cent office vacancy rate. 'If prices are going up, that means that there's demand, which means people are coming into the office, the city's more vibrant, and there's more activity going on,' Ms Rader said. '(Brisbane's) office takeup over the past 12 months has outperformed other places.' But Brisbane parking operators still offer substantial discounts of 55.5 per cent for online bookings and 57.9 per cent for early bird parkers, revealing continued competition for regular commuters despite the market's strength. Melbourne is becoming one of the cheaper markets for parking, with daily rates of $64.43 below 2013 levels ($65.00). This decline mirrors Melbourne's struggling office market, which maintains the highest vacancy rate among Australian CBDs at 18 per cent and continues to experience negative occupied stock change. Sydney's average parking rate of $77 is well below its 2023 peak of $85.05, while Hobart's sits at $18.83 and has the lowest office vacancy rate among all CBDs at just 3.6 per cent. It comes as a recent report revealed the eye watering amount being charged by homeowners to rent vacant car spaces in Brisbane's inner-city area. The Parkin' Mad report by NRMA and Bitzios Consulting found Brisbane drivers were splashing out around $60 a day. A vacant car park at Ballow Chambers in Spring Hill is currently listed for $37,500 a year. Another car park, also in Spring Hill, is listed for sale for $47,500 on while another is listed for rent for $300 a month. NRMA spokesman Peter Khoury said part of the reason parking prices had risen to unreasonable levels was due to policies decreasing the number of available parking spots. 'It's a culmination of a number of things: construction and rezoning, the building of cycle paths and building shared paths has seen a lot of parking lost in recent years,' Mr Khoury said. 'Less parking options is obviously going to increase costs.' He said the continued reduction of on-street parking meant more people needed to rely on expensive parking stations and called on the government to set a cap on parking fees. In February, Brisbane City Council reduced car parking requirements for inner-city apartment buildings as part of its Inner-City Affordability Initiative. Property Council Queensland executive director Jess Caire said the decision would help drive down the cost of building inner-city apartments. 'As outlined in our research, car parking is estimated to add an extra $100,000 to the cost of an apartment for 'at grade' car parks, and more for basement car parks,' Ms Caire said. Ms Rader said renting out private car spaces may become more common in Brisbane, particularly given the new parking requirements. 'If there's going to be less parking with new developments, you'd think (renting a car park) could be quite attractive to people,' she said. 'It could be a good little income earner for those who don't have a car.'
News.com.au
24-05-2025
- Automotive
- News.com.au
Insane Sydney parking trend exposed
Sydney has become swept up in a wheel estate craze as the cost of parking eclipses the price of many apartments and luxury cars. Parking spaces – mere slabs of concrete of about 6m by 2m – have been selling for over $600,000 a piece across inner suburbs, with individual spaces outside the CBD selling for over $200,000. It comes amid a shift by developers to new housing projects without parking – a move primarily guided by zoning restrictions and developer attempts to rein in costs. The extravagant parking costs have also defied a drop in daily charges for commercial parking as the work from home trend continues to leave office vacancies elevated. Daily charges for parking spaces within commercial lots now average about $77, down from $85 in 2023, making the Sydney CBD the second most expensive daily parking market behind Brisbane. Ray White Economics commercial property analyst Vanessa Rader said demand for daily parking was falling because fewer people were coming to the CBD, but it was a different story for private lots near, or within, residential buildings. Private spaces could command hefty price tags because of cashed up residents living in the CBD and its surrounds, she explained. These homeowners often lived in luxury apartments with limited parking facilities, making private parking a sought after commodity – often worth hundreds of thousands. 'It's a very specific category of buyer, they need somewhere to park long-term,' Ms Rader said. Sydney remains in a league of its own when it comes to sales of private parking spaces: last week six neighbouring spaces on Phillip St, near Circular Quay, sold at auction for $3.65 million. The sale of the 85 sqm of concrete equated to a tyre screeching $608,000 per space. Selling agent James Cowan of Colliers, who sold the spaces with agent Cameron Colquhoun, said they had expected demand for the parking to be strong but nowhere near the level it reached: there were close to 100 buyer inquiries. 'Strong bidding saw the reserve reached by the fourth bid, with more than 30 bids received,' Mr Cowan said. He attributed the price to parking 'being one of the most undersupplied and tightly held asset classes in the Sydney CBD'. Other recent parking sales included the $308,000 paid for an individual space within a compound on Clarence St. Another space in the same building sold for $290,000 in February. Single parking spaces in the Macleay Regis, a building on Macleay St in Potts Point, have sold for $200,000-$270,000, with the latest sale coming in late last year for $225,000. Back in the CBD, a double parking space on Bond St is up for sale for $525,000 – although the owner has had it listed for years without finding a buyer. Ms Rader said these sales were all the more incredible when contrasted with the lower volume of people coming into the CBD and its surrounds since Covid. 'Traffic into the CBD is still down about 25 per cent on pre-Covid levels. No vacancy signs are rare at (commercial) parking lots,' she said, adding that recent developments may have been a factor in high private space sales. 'There has been a reduction in parking within new developments,' she said. 'Developers have been encouraged to include less of it in their new projects. 'People living in the CBD need somewhere to park over long periods and there aren't a lot of those spaces.'
