Why an investment banker with Roos blood in his veins stormed into John Elliott's office with a cheque

Every AFL club has a network of influencers who make things happen through their wealth, fame or political connections. This is our series on the football world's movers and shakers. See all 11 stories.
Statues at football clubs are typically erected for champion footballers or the game's greatest coaches.
At North Melbourne, the two chairmen who preceded Sonja Hood – James Brayshaw and Ben Buckley – are adamant a white knight who fits neither category deserves one at Arden Street.
They will tell you there is no one more important to the Kangaroos' survival than philanthropist and businessman Peter Scanlon, who tipped in more than $10 million during Brayshaw's stint by the time he announced Scanlon's life membership nine years ago.
It was no coincidence, then, that Scanlon was seated next to Brayshaw and Buckley on November 19, 2021, when they proudly revealed that North Melbourne were debt-free for the first time since 1987.
That milestone day, Brayshaw reminisced with Scanlon and the club's former chief executive, Eugene Arocca, about eyeballing almost $9 million of debt – which threatened to get more out of hand from a crippling interest rate – and their fears about how they would ever wipe it.
It was proof the Roos had come a long way since the dark days of 2007, when the AFL wanted them to relocate to the Gold Coast.
The league's then-CEO, Andrew Demetriou, and commissioner Colin Carter even took North Melbourne's major shareholder (more on this later), Peter de Rauch, out for breakfast at a Collins Street haunt to extol the virtues of the Kangaroos moving north.
De Rauch, like many others at Arden Street, had no interest in relocating. On December 7 that year, North's board voted to remain a Melbourne-based club – and for Brayshaw to be the new chairman.
Brayshaw's brother, ex-player Mark, and fellow board member Ron Joseph were instrumental in him becoming president. One of Brayshaw's first pledges was to change their name back to North Melbourne, after they officially became the Kangaroos eight years earlier in an attempt to broaden their appeal.
The original name change was targeted at recruiting new Australians, recalled then-CEO Greg Miller.
The club even brokered a deal with a removalist company, whereby every time a migrant shifted their furniture to Australia, they got a North Melbourne membership.
Reflecting on dodging the Gold Coast threat, Scanlon deflected credit to others, from Brayshaw, Buckley and Arocca to long-time directors de Rauch and Trevor O'Hoy, as well as rank-and-file club members.
'It was clear to James, Ron Joseph, myself and others that although it looked financially attractive, moving to the Gold Coast [would have been] the end of the 'Shinboners',' Scanlon said when the debt was wiped.
'The decision those guys made was we'd rather try and fail to keep that than give up, and I think, on behalf of all the members – if I can be so bold as to represent them – I just want to thank the people who did all the work … I've had so much more back than I've ever put in.'
The Scanlon connection extends to Hood, who is the Scanlon Foundation's CEO and had his considerable support to be Buckley's successor as club president three years ago.
Scanlon's son, Brady, also served on North Melbourne's board from 2012-21, while the club's community arm at Arden Street, The Huddle, was Scanlon's idea.
'The real truth has always been that without the towering backing of Peter Scanlon,' Brayshaw said at the 2016 Syd Barker Medal function, 'it didn't matter what else occurred or who else was involved – there would have been no option but to relocate.'
Scanlon's contributions, including and beyond that torrid period, were not purely financial. He attended critical meetings with AFL heavyweights and provided counsel to Roos officials.
'When we walked in that room with the great Peter Scanlon, the air suddenly went out of the room and the AFL's whole demeanour changed,' Brayshaw said. 'It's very easy to stand out the front of anything with confidence when you have someone like Peter Scanlon standing behind you.'
Buckley, a former vice captain who played 74 games for North Melbourne before serving as the club's president for nine years until early 2022, echoed Brayshaw's sentiments, while highlighting Peter Dwyer as another key contributor.
'Peter [Scanlon]'s always there and always giving of his time. He's been hugely influential in supporting the club through some pretty tough periods,' Buckley told The Age.
'I would stress that people like Peter, whether it's North Melbourne or at other clubs; a lot of the public commentary turns to financial support. But a lot of times, you just need that sounding board, to stress-test some of your decisions beyond the boardroom, which can get emotional.
'I always found Peter's counsel to be very objective – but with a great care for the people involved.'
Why Carlton bought shares in North, and the buyback
North Melbourne have long had to find innovative ways to make a buck, from starting the annual grand final day breakfast in 1967 to Friday night football, which has become the most coveted timeslot every week.
They also championed pre-game and half-time entertainment – including one occasion in 1978 where a circus elephant, with a cheer squad member aboard, briefly panicked and threatened to stampede at Arden Street – and invited women to attend the once men-only luncheons.
The Kangaroos went into a rebuild after winning two premierships with Ron Barassi as coach in the 1970s, and plunged into about $2.5 million of debt.
North Melbourne continued to do things their way under then-chairman Bob Ansett's leadership, issuing three million $1 shares and listing the club on the Hobart Stock Exchange in the late 1980s.
Ansett borrowed a significant amount of money from merchant bank Tricontinental to buy the shares, but later went bankrupt in a difficult financial climate.
At that stage, a group of investors, including ex-Kangaroos players Kerry Good, Mark Dawson and Robert Smith, Good's business partner Peter Johnstone, ex-South Melbourne footballer Greg Miller, and de Rauch bought a large number of the shares.
De Rauch's 10 per cent stake increased to 34 per cent after a deal where he helped a financially stricken fellow North director, which was why Demetriou and Carter wanted to speak to him.
'I got a phone call from Ron Joseph, and he said he wanted to come and talk to me, and he turned up with Mark Dawson,' de Rauch said. 'The club was in trouble. If we didn't buy the shares, Tricontinental might have taken over and sold the club to anybody.'
Loading
There were class A and B shares, with contrasting voting power, which Ansett did to make sure people with the club's best interests ended up with the biggest say.
'They were interesting times. It was not quite as serious as [having to do it for survival], but we wanted to get rid of a couple of million dollars [in debt],' Ansett told this masthead.
'It wasn't like we were out of business if we didn't do it. The shares were something that looked attractive and provided an opportunity to pay off the debt at the time.'
Complications arose a few years later when Dick Pratt purchased a bunch of those shares for Carlton – some say it was 10 per cent, and others 20 – and held onto them for the next decade as part of a potential hostile takeover bid until John Magowan bought them back.
Ansett said Magowan, a former CEO of the Australian branch of investment management company Merrill Lynch, could have saved his money, given the Blues had such an 'insignificant' percentage.
Loading
Miller, who became a long-time Kangaroos recruiter and administrator, is convinced that Ansett's innovative idea 'saved the club'. He also provided insight into Magowan's logic in buying Carlton's shares.
'The whole thing was a 'Jack' Elliott [former Carlton president] ego beat-up that wasn't reality,' Miller said.
'John Magowan went and bought them off Carlton. In the end, he said, 'The shares aren't worth anything, but Elliott carries on as if they are. F--- him, I'll go and pay'. He walked into Elliott's office, wrote him a cheque for $180,000, and got them all back.'
The shares again became a major topic during the Gold Coast relocation talks between the league and North.
Demetriou wanted the Kangaroos to revert from the shareholder arrangement to being a member-owned club, and Brayshaw and Joseph went to Noosa to meet with Ansett, who subsequently travelled south to the Gold Coast with them to discuss the matter with Demetriou.
'Both Ron [Joseph] and James [Brayshaw] didn't want me to consider selling the shares – and that was the end of it, as far as I was concerned,' Ansett said.
'My support was for North Melbourne, so I just tore them up. Most others did the same, but some with small quantities may have kept them as mementos.'
The 22 years of private ownership officially ended in March 2009 and meant all Kangaroos members had an equal vote on club matters, as was the case with Victoria's nine other teams.
The 17 people who relinquished their shares became patrons of the club, while de Rauch, Magowan, Dennis Morgan, Johnstone, Good and Andrew Carter received life membership.
'The fact that we were privately owned was a real stone in the AFL's shoe,' Brayshaw said at the time. 'They made no bones of the fact that they wanted us to have the same structure as every other club in Melbourne.
'We were in a position where our relationship with City Hall was compromised … [and] we want to have a great relationship with the AFL. They were of the opinion that we needed to sort this out.'
The would-be Fitzroy merger
If key North Melbourne people had their way, the Kangaroos rather than Brisbane would have merged with embattled Fitzroy in 1996.
Early that year at Leonda By The Yarra in Hawthorn, the AFL presented each club with a package of incentives to convince them to merge with Fitzroy, from extra players to fixture perks and a $6 million bounty to cover the Lions' $2.3 million debt and help the merger succeed.
Miller, North's chief executive at the time, went to the club's board with the proposal because the Roos had continued to struggle financially despite being an on-field powerhouse, led by Wayne Carey and coach Denis Pagan.
'Even though we were a very good side, it was an era where equalisation kind of wasn't around, and we still had a lot of financial problems,' Miller said.
'We decided as a board, 'We can do this', and we met with the Fitzroy board, and did all the things you expect behind the scenes … and then, of course, we kept winning, we were on top of the ladder, and the AFL realised, 'Hang on a minute, we're getting pushback here from what we've offered – will you take less?'
'I said, 'No, we're not taking less, we've got it in writing'.'
De Rauch, too, worked on the would-be merger with the AFL's then legal adviser and future Collingwood president Jeff Browne. The new club would have been called North Fitzroy Kangaroos, but opposition teams feared they would become a 'super club'.
Loading
The Roos refused to budge from their stance of not accepting less when clubs met again that year at Punt Road – but by then, the league was negotiating for Fitzroy to instead merge with Brisbane Bears.
In de Rauch's words, North Melbourne's rivals 'sabotaged' the concept. The other 14 clubs voted emphatically against the North-Fitzroy merger.
'Brisbane and Sydney were the two teams the AFL needed to work for the expansion of the competition, and I had no issue with that,' Miller said.
'But you can't offer something, then renege on it and blame us, so we were not going to change. The AFL gave the merger to Brisbane, and we won the premiership that year.
'We beat Geelong the next day by 60 points, and then we beat the two AFL sides – Brisbane and Sydney – in the preliminary final and grand final. We had to start looking for alternatives [to solve our financial issues], which was selling games interstate.'
The Kangaroos won another premiership, which remains their most recent (at least in the men's competition), in 1999.
The celebrity Shinboners
There is no higher-profile North Melbourne supporter than former Australian cricket captain Ricky Ponting, who was the club's No.1 ticketholder at the height of his legendary career.
Loading
Ponting was often on international tours throughout football seasons, and watching games was not as accessible then as it is now – but that did not stop him.
He would organise to receive match videos before graduating, as technology improved, to friends ringing him then placing their phone against a radio to hear the commentary. That is how Ponting followed the Roos' 1999 grand final triumph.
Since the COVID-19 pandemic, Ponting has been overseas with coaching and other commitments for most of every football season, but he watches every game on the AFL website.
Ponting went into business with North Melbourne premiership stars Glenn Archer and Anthony Stevens, while Ponting Wines became the Kangaroos' official wine partner last year.
'During my playing years, I was very lucky to be in and around our great sides of the '90s. Many of the players became close friends, and we have stayed in regular contact,' Ponting told this masthead. 'I was like a kid in a lolly shop back then.'
Ponting has spoken to several iterations of North Melbourne playing groups, and worked with the club on charitable initiatives via the Ponting Foundation, including a Twenty20 game between the Kangaroos and Hawthorn in Launceston in 2017.
They raised more than $300,000 for childhood cancer support in Tasmania that day, which is also remembered for a Peter Siddle bouncer that hit Alastair Clarkson on the helmet.
Cricket ties run deep at North. Siddle is another passionate supporter, along with the Marsh brothers – Mitch and Shaun – who caught up with the players and coaches during their current trip to Western Australia.
The Kangaroos twice asked Ponting to join the club's board, but he reluctantly said no because of his overseas commitments.
They also offered him a semi-executive football department role after he retired as a player and relocated from Sydney to Melbourne, but the timing was not right, a 'flattered' Ponting said.
North Melbourne's other celebrity supporters include actors Sigrid Thornton and Lisa McCune, singer Tim Rogers, leading horse trainer Lee Freedman, comedians Greg Fleet and Trevor Marmalade, Melbourne Storm star Ryan Papenhuyzen, tennis player Wayne Arthurs and basketballer Chris Goulding.
Loading
The club's ex-media boss, Heath O'Loughlin, attempted in 2009 to confirm rumours that supermodel Elle Macpherson was a North Melbourne supporter.
'I managed to hunt down Elle's email address through a friend at a talent agency who knew her brother,' O'Loughlin said, laughing.
'I almost fainted when she wrote back. It was something like, 'Oh, bless – thank you for checking. Unfortunately, I am not [a Kangaroos fan]. It's something that's always followed me around, but thank you for checking'.'

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Sky News AU

27 minutes ago

• Sky News AU

Albanese should find a seat at the everyday Aussie kitchen table where the bills are piling up, instead of looking for a place next to Trump

While Australians again struggled to afford fuel and basic groceries this week, the Prime Minister had in his sights another overseas trip to enhance foreign optics instead of fixing problems at home. Mr Albanese has now ditched a last-minute appearance at next week's NATO summit in The Hague, some 16,000 kms away, in the hope it would produce a face-to-face with US President Donald Trump. The decision to instead send his deputy Richard Marles follows the PM's scheduled G7 encounter with Mr Trump in Canada which was scuttled by President's early exit to address the Iran-Israel conflict. What we are now also witnessing in the aftermath of that snub is a diplomatic dance which underscores just how far Mr Albanese is willing to go to secure a seat at the grown ups' table. At home, Australians are hurting and the cost of living remains the number one issue in this country. It has been for three years, probably more. The PM needs to stop eyeing a meeting with Trump overseas and start restoring confidence in his government's ability to manage both domestic and foreign affairs in a strategic and strong fashion. Sure, the US President's brush-off was a diplomatic embarrassment especially as it lacked a private heads-up to Mr Albanese before publicly pulling the plug on their meeting. But it's time to move on. The real questions are these: when was the last time this government delivered a serious and immediate policy to cut household energy bills? When was the last time this government offered tangible relief to small businesses buckling under the weight of supply chain blowouts and relentless interest rate pressure? This week it was announced that a productivity roundtable in Canberra was in the works to 'shape our government's growth and productivity agenda'. But already this is being picked apart as a consensus talkfest if cutting net immigration and net zero targets are not seriously considered. I don't think we are dealing with an abstract economic trend here because for nine million Australians it has nearly reached the point of financial collapse. New research from comparison site Finder paints a grim picture. Nearly half the country is the cost of a cracked windscreen or dentist's bill away from the edge. The average savings for this group? A paltry $215 which in NSW I would argue doesn't even cover a week's groceries. I saw a 1kg bag of ordinary coffee beans at the supermarket this week for $80. Dishwasher tablets, 82 of them, for $78. There was plenty of room to move in the fruit and vegetable aisle, with the least expensive thing to buy some apple varieties I'd never heard of and likely tasteless and cold-storaged for months. You're trying your luck if you fancy 350g of multi-coloured mini tomatoes for under $6.50, punished for your caviar-style tastes. The frozen food aisle with the cheaper dinners like fish fingers and bulk meat pies was doing brisk business, however. Local Facebook group chat is dominated by members asking for money saving tips including what time of day do local supermarket staff appear in store with a yellow sticker gun to discount products. According to Finder, 43 per cent in the cohort referenced have less than $1,000 in a bank account. More than half live pay transfer to pay transfer and 47 per cent are banking on a tax refund to plug holes in the dam. And a $12 coffee? Don't laugh, it's coming to a cafe near you. When inflation is combined with supermarket gouging, international trade instability and policy gridlock, prices only go in one direction. In cafes, once the beating heart of urban Australia, small business owners continue to be crushed. Wages, energy, rent, beans, you name it. Roasters say stress on the international coffee bean market means the only solution is to jack up prices. This isn't indulgence anymore. It's economics at gunpoint. Meanwhile, those brewing at home are finding supermarket shelves are no longer a refuge. Instant coffee is probably booming but that's less about convenience and more about budget. And then there's fuel. If you're still planning on driving to work, brace yourself. Petrol is tipped to hit $2.20 per litre with Middle East tensions sending the global oil markets into panic mode and we're all meant to just accept it like it's the weather. Australia may not import oil from Iran but that's no comfort at the bowser. Our prices are still shackled to global markets which drives up costs at the pump while hammering fuel-reliant industries nationwide. Australia used to have several oil refineries and now we have just two - Queensland's Lytton Refinery operated by Ampol and Victoria's Geelong Refinery, operated by Viva Energy. We can blame globalisation and "market efficiency" for that and we now import most of our refined fuel. With petrol spiking, inflation stays high too so consider that in terms of the Reserve Bank delaying any long-awaited interest rate cuts. And let's not forget the cherry on top: fuel excise and GST. What's the domestic agenda? Because from where most Australians stand at the petrol pump, in the supermarket aisle or checking their empty bank apps, it doesn't feel like there is one. We don't need a seat at NATO next week. Mr Albanese has had months to build a relationship with the Trump administration and should now plan to see him in Washington. We need a seat at the kitchen table where bills are piling up and no one from Canberra seems to be listening. Louise Roberts is a journalist and editor who has worked as a TV and radio commentator in Australia, the UK and the US. Louise is a winner of the Peter Ruehl Award for Outstanding Columnist in the NRMA Kennedy Awards for Excellence in Journalism and has been shortlisted in other awards for her opinion work

News.com.au

35 minutes ago

• News.com.au

Melbourne homebuyers missing out on super hack

A growing number of young Melbourne homebuyers are using a little-known super hack to beat the property market — but hundreds of thousands of others are still missing out. Finder analysis of SuperRatings data has revealed that in 190 Melbourne suburbs, house prices failed to keep pace with the average 5.7 per cent annual return delivered by top-performing superannuation funds over the past decade. That means savvy buyers who contributed voluntarily into super rather than racing into the property market in those suburbs could have ended up ahead, growing a deposit faster than prices climbed. These suburbs include a mix of prestige pockets such as Docklands, Carlton, Parkville and St Kilda West, as well as outer-fringe areas like Cranbourne South, where growth has lagged super returns. In contrast, more than 100 other suburbs, particularly in Melbourne's booming outer west and north, outpaced super fund performance. Despite the clear financial benefits, the First Home Super Saver Scheme (FHSSS), which allows Australians to grow a deposit inside super, remains significantly underused. According to the latest Australian Taxation Office data, just 27,000 Australians have accessed the scheme since it began, withdrawing a combined $370m in voluntary contributions. Yet nearly half of those — 16,500 — were Victorian buyers, indicating strong uptake in the state. However, Australian Bureau of Statistics figures show there were more than 231,000 new loans issued to first-home buyers in Victoria between the 2018 and 2024 financial years, suggesting almost 93 per cent of eligible buyers never used the scheme. Super Members Council chief executive Misha Schubert said younger Australians should not have to choose between homeownership and a secure retirement. 'They deserve the same opportunities as previous generations to have both a home and strong retirement savings,' Ms Schubert said. 'As a result of Super Guarantee rate rises from 9 to 12 per cent over the past decade, the average 30-year-old today will be more than $130,000 better off in retirement. 'That's why protecting the core of super is so important.' Under the scheme, eligible first-home buyers can contribute up to $15,000 per year and a total of $50,000 in voluntary super contributions — which can later be withdrawn to use as a house deposit. The strategy is particularly appealing for disciplined savers, as it takes advantage of concessional tax treatment and compound growth within a super fund. Experts say it could be a powerful way to close the deposit gap for many young Australians locked out of their preferred suburbs. Smart Lending managing director Melissa Gielnik said the scheme remained an under-utilised financial tool, especially for buyers in their 20s and 30s. 'In a lot of cases, the First Home Super Saver Scheme can deliver a better outcome than a standard savings account or term deposit, and it's a huge help in a rising market,' Ms Gielnik said. OpenCorp chief executive Cam McLellan said while super performance had been solid, property still offered unique advantages that couldn't be overlooked. 'Super returns sound solid, but property has a massive advantage with leverage,' Mr McLellan said. 'With a 20 per cent deposit, you control the full value of the asset, and that means better real-world outcomes — especially when you factor in rental income and tax benefits.' Mr McLellan said successful investors often used a blend of both strategies, depending on their income and long-term goals. 'Some reduce their super contributions while building a property portfolio,' he said. 'Others use a self-managed super fund to buy property inside super. The smart ones use both.' M R Advocacy director Madeleine Roberts said more younger buyers were also turning to rentvesting — renting in their preferred lifestyle locations while investing in more affordable growth suburbs. 'They're realising it's a smart way to get ahead without giving up lifestyle,' Ms Roberts said. 'We're seeing savvy buyers take a strategic approach. 'They're arming themselves with the right information and using it to their advantage.' She said that while super could be a useful long-term growth tool, the right property purchase in the right location had the potential to outperform in real dollar terms, particularly when timed well. 'Smart property decisions can absolutely beat super, even in the short term,' Ms Roberts said. 'But it all comes down to timing and knowing where to buy. 'Sometimes the best move is to buy, wait for it to mature in value, and then reinvest somewhere else.' With Melbourne's housing market showing signs of recovery after a turbulent few years, experts say the combination of rising super balances, accessible government schemes, and flexible strategies like rentvesting could redefine the first-home buyer experience. It helps close the affordability gap for a generation of buyers priced out of the traditional path to homeownership. Ms Schubert said one of the scheme's biggest strengths was that it didn't require buyers to compromise their long-term financial wellbeing. 'It doesn't damage the safe deposit box that protects their employer super contributions, which they will need to deliver regular income to live on in retirement,' she said. 'It's a win-win, and we'd love to see more young Australians taking advantage of it.' Additional reporting by Nathan Mawby Disclaimer: OpenCorp does not provide financial advice about SMSFs or superannuation. Always consult a licensed financial adviser before making decisions regarding your super or establishing an SMSF. Melbourne suburbs where super outperformed houses Suburb Property Type 10-Year Property Return % Docklands H -1 Parkville H -0.3 Cranbourne South H 0.2 Werribee South H 0.3 Nar Nar Goon North H 0.9 Middle Park H 1.2 Carlton H 1.3 St Kilda West H 1.6 Toorak H 2.4 Armadale H 2.4 South Melbourne H 2.5 Williamstown North H 2.5 Glen Huntly H 2.6 Flemington H 2.6 Fitzroy North H 2.7 Box Hill H 2.8 Richmond H 2.8 Malvern East H 2.9 Cremorne H 2.9 Ashburton H 3 Prahran H 3 Elsternwick H 3.1 Princes Hill H 3.1 Mont Albert H 3.2 South Yarra H 3.2 St Kilda H 3.2 Bulleen H 3.2 Kew H 3.3 Mont Albert North H 3.3 Balaclava H 3.3 Windsor H 3.3 West Footscray H 3.3 Heidelberg Heights H 3.3 Caulfield North H 3.4 Caulfield South H 3.4 Doncaster H 3.4 Brooklyn H 3.4 Ripponlea H 3.5 Port Melbourne H 3.5 Maidstone H 3.5 Box Hill South H 3.6 Chadstone H 3.6 Maribyrnong H 3.6 Balwyn North H 3.7 Oakleigh East H 3.7 Collingwood H 3.7 Kensington H 3.7 Camberwell H 3.8 Glen Iris H 3.8 St Kilda East H 3.8 Belgrave South H 3.8 Seddon H 3.8 Footscray H 3.8 McKinnon H 3.9 Alphington H 3.9 Box Hill North H 3.9 Heidelberg H 3.9 Oakleigh H 3.9 Essendon North H 3.9 Heatherton H 3.9 Mount Dandenong H 3.9 Elwood H 4 Ivanhoe H 4 Fitzroy H 4 West Melbourne H 4 Balwyn H 4.1 Hawthorn East H 4.1 Surrey Hills H 4.1 Albert Park H 4.1 Templestowe H 4.1 Templestowe Lower H 4.1 Braybrook H 4.1 Bentleigh H 4.2 Mount Waverley H 4.2 Blackburn H 4.2 Williamstown H 4.2 Clifton Hill H 4.2 Burwood H 4.2 Ashwood H 4.2 Ascot Vale H 4.2 Forest Hill H 4.2 Yarraville H 4.2 Watsonia North H 4.2 Bundoora H 4.2 Springvale H 4.2 Brighton East H 4.3 Glen Waverley H 4.3 Burwood East H 4.3 Moorabbin H 4.3 Heathmont H 4.3 Knoxfield H 4.3 Keilor Park H 4.3 Warrandyte H 4.4 North Melbourne H 4.4 Blackburn North H 4.4 Abbotsford H 4.4 Viewbank H 4.4 Nunawading H 4.4 Pascoe Vale H 4.4 Croydon North H 4.4 Attwood H 4.4 Westmeadows H 4.4 Malvern H 4.5 Ormond H 4.5 Moonee Ponds H 4.5 Hughesdale H 4.5 Mitcham H 4.5 Huntingdale H 4.5 Bonbeach H 4.5 Ringwood H 4.5 Airport West H 4.5 Bayswater H 4.5 Caulfield H 4.6 Murrumbeena H 4.6 Ringwood East H 4.6 Altona North H 4.6 Avonsleigh H 4.6 Canterbury H 4.7 Brighton H 4.7 Kew East H 4.7 Carnegie H 4.7 Blackburn South H 4.7 Mentone H 4.7 Brunswick West H 4.7 Brunswick H 4.7 Macleod H 4.7 Kingsbury H 4.7 Eaglemont H 4.8 Ivanhoe East H 4.8 Sandringham H 4.8 Carlton North H 4.8 Donvale H 4.8 Hampton East H 4.8 Wheelers Hill H 4.8 Thornbury H 4.8 Coburg H 4.8 Rowville H 4.8 Bellfield H 4.8 Scoresby H 4.8 Gowanbrae H 4.8 New Gisborne H 4.8 Sunshine H 4.8 Brookfield H 4.8 Vermont H 4.9 Wantirna H 4.9 Clarinda H 4.9 Clayton South H 4.9 Sassafras H 4.9 Reservoir H 4.9 Croydon South H 4.9 Greenvale H 4.9 Boronia H 4.9 Caroline Springs H 4.9 Fairfield H 5 Brunswick East H 5 Newport H 5 Cheltenham H 5 Patterson Lakes H 5 Oakleigh South H 5 Yallambie H 5 Coburg North H 5 Wattle Glen H 5 Cairnlea H 5 The Basin H 5 Springvale South H 5 Glenroy H 5 Fawkner H 5 Broadmeadows H 5 Hampton H 5.1 Niddrie H 5.1 Clayton H 5.1 Seaholme H 5.1 South Kingsville H 5.1 Oak Park H 5.1 Keilor East H 5.1 Ferntree Gully H 5.1 Selby H 5.1 Eumemmerring H 5.1 Laverton H 5.1 Bentleigh East H 5.2 Parkdale H 5.2 Vermont South H 5.2 Mordialloc H 5.2 Ringwood North H 5.2 Preston H 5.2 Mulgrave H 5.2 Strathmore Heights H 5.2 Briar Hill H 5.2 Avondale Heights H 5.2 Croydon H 5.2 Hadfield H 5.2 Sunshine North H 5.2 Deepdene H 5.3 East Melbourne H 5.3 Black Rock H 5.3 Beaumaris H 5.3 Northcote H 5.3 Doncaster East H 5.3 Highett H 5.3 Rosanna H 5.3 Pascoe Vale South H 5.3 Greensborough H 5.3 Watsonia H 5.3 Taylors Hill H 5.3 Kalorama H 5.3 Noble Park H 5.3 Burnside Heights H 5.3 Roxburgh Park H 5.3 Tarneit H 5.3 Chelsea H 5.4 Carrum H 5.4 Albion H 5.4 Dandenong H 5.4 Altona Meadows H 5.4 Hawthorn H 5.5 Essendon H 5.5 Eltham North H 5.5 Botanic Ridge H 5.5 Chirnside Park H 5.5 Lilydale H 5.5 Mooroolbark H 5.5 Lynbrook H 5.5 Sunshine West H 5.5 Wallan H 5.5 Bacchus Marsh H 5.5 Plenty H 5.6 Kingsville H 5.6 Eltham H 5.6 Notting Hill H 5.6 Montmorency H 5.6 Upper Ferntree Gully H 5.6 Epping H 5.6 St Albans H 5.6 Melbourne suburbs where houses outperformed super Suburb Property Type 10-Year Property Return % Cobblebank H 14.6 Aintree H 14 Mickleham H 13.5 Weir Views H 12.6 Portsea H 11.3 Red Hill H 11.3 Wesburn H 10.7 Fraser Rise H 10.7 Bittern H 10.1 Cannons Creek H 10.1 St Andrews Beach H 9.7 Diggers Rest H 9.3 Kinglake H 9.2 Cape Schanck H 9.1 Harkaway H 9 Wandong H 8.8 Lang Lang H 8.8 Officer H 8.6 Mount Macedon H 8.3 Melton South H 8.3 Sorrento H 8.2 Pakenham Upper H 8.2 Balnarring H 8.2 Yarrambat H 8.1 Blairgowrie H 8.1 Frankston North H 8.1 Millgrove H 8.1 Safety Beach H 8 Nyora H 8 Baxter H 8 Cranbourne West H 8 Rockbank H 8 McCrae H 7.9 Kinglake West H 7.9 East Warburton H 7.9 Fingal H 7.8 Crib Point H 7.8 Belgrave Heights H 7.7 Gembrook H 7.7 Tyabb H 7.6 Launching Place H 7.6 Clyde North H 7.6 Junction Village H 7.6 Essendon West H 7.5 Somerville H 7.5 Mount Martha H 7.4 Frankston South H 7.4 Carrum Downs H 7.4 Devon Meadows H 7.3 Narre Warren North H 7.2 Seville East H 7.2 Warburton H 7.2 Gruyere H 7.1 North Warrandyte H 7.1 Hurstbridge H 7.1 Rye H 7.1 Tootgarook H 7.1 Melton H 7.1 Balnarring Beach H 7 Mount Eliza H 7 Diamond Creek H 7 Keilor Lodge H 7 Burnside H 7 Cranbourne North H 7 Beaconsfield Upper H 6.9 Warranwood H 6.9 Langwarrin H 6.9 Garfield H 6.9 Edithvale H 6.8 Ferny Creek H 6.8 Dromana H 6.8 Romsey H 6.8 Eynesbury H 6.8 Yarra Junction H 6.8 Hampton Park H 6.8 Cranbourne H 6.8 Werribee H 6.8 Kurunjang H 6.8 Frankston H 6.7 Capel Sound H 6.7 Woori Yallock H 6.7 Hastings H 6.7 Maddingley H 6.7 Wyndham Vale H 6.7 Coolaroo H 6.7 Lower Plenty H 6.6 Kilsyth South H 6.6 Macedon H 6.6 Keysborough H 6.6 Seville H 6.6 Rosebud H 6.6 Wollert H 6.6 Koo Wee Rup H 6.6 Research H 6.5 Lysterfield H 6.5 Aspendale Gardens H 6.5 Emerald H 6.5 Wandin North H 6.5 Mount Evelyn H 6.5 Coldstream H 6.5 Healesville H 6.5 Skye H 6.5 Narre Warren H 6.5 Sunbury H 6.5 Doveton H 6.5 Strathmore H 6.4 Wonga Park H 6.4 Keilor H 6.4 Sandhurst H 6.4 Gisborne H 6.4 Williams Landing H 6.4 Belgrave H 6.4 Albanvale H 6.4 St Helena H 6.3 Pearcedale H 6.3 Montrose H 6.3 Heathcote Junction H 6.3 Mill Park H 6.3 Hallam H 6.3 Blind Bight H 6.3 Pakenham H 6.3 Kings Park H 6.3 Dallas H 6.3 Melton West H 6.3 Aberfeldie H 6.2 Mornington H 6.2 Lyndhurst H 6.2 Narre Warren South H 6.2 Keilor Downs H 6.2 Mernda H 6.2 Hoppers Crossing H 6.2 Meadow Heights H 6.2 Longwarry H 6.2 Lysterfield South H 6.1 Altona H 6.1 Dingley Village H 6.1 Olinda H 6.1 Beaconsfield H 6.1 Taylors Lakes H 6.1 Yarra Glen H 6.1 Berwick H 6.1 Doreen H 6.1 Clyde H 6.1 Deer Park H 6.1 Truganina H 6.1 Badger Creek H 6.1 Somers H 6 Spotswood H 6 Tecoma H 6 Monbulk H 6 Seaford H 6 Hillside H 6 Noble Park North H 6 Seabrook H 6 Delahey H 6 Ardeer H 6 Darley H 6 Kallista H 5.9 Chelsea Heights H 5.9 Bayswater North H 5.9 Endeavour Hills H 5.9 Bunyip H 5.9 Thomastown H 5.9 Craigieburn H 5.9 Croydon Hills H 5.8 Riddells Creek H 5.8 Silvan H 5.8 Heidelberg West H 5.8 Dandenong North H 5.8 Gladstone Park H 5.8 Tullamarine H 5.8 Cranbourne East H 5.8 Lalor H 5.8 Campbellfield H 5.8 Park Orchards H 5.7 Waterways H 5.7 Aspendale H 5.7 Wantirna South H 5.7 Upwey H 5.7 Kilsyth H 5.7 Point Cook H 5.7 South Morang H 5.7 Lancefield H 5.7 Whittlesea H 5.7 Kealba H 5.7 Sydenham H 5.7 Beveridge H 5.7 Manor Lakes H 5.7 Jacana H 5.7 Harkness H 5.7

The Age

37 minutes ago

• The Age

The Libs have been handed a golden opportunity. Now, watch them stuff it up

One of the great entertainments of political commentary in Australia over the past decade-and-a-bit has been speculating on what new and inventive way the Liberal Party will find to comprehensively bugger itself up. I can't help thinking this must have crossed Treasurer Jim Chalmers' mind as he fronted the National Press Club this week to announce that he will undertake a process to develop a new productivity agenda. Chalmers' speech was solid, but then so it should be after so many have said the same things so often to so little avail. His words and aspirations have been written for him many times over, sometimes with hope, other times with emotions ranging from dull rage to despair. Sometimes even by the Coalition. We need productivity reform, politicians all know we need it, the media all know they know we need it, yet no-one ever does it. There's a simple reason for that: it's hard. The treasurer dwelt in his speech on why it's hard. Reforming an economic system requires trade-offs. Some choices will cost some people. They may or may not be recompensed in the rejig. Chalmers doesn't want the media to simplify economic reform by explaining it in terms of 'winners and losers', as they do after each budget, but there will be winners and losers in the short, medium, or long term as a result of any new tax system. And, naturally, the opposition will do what the name says on the tin. It will oppose. Given the last years of Liberal shenanigans, the real question is how it chooses to do that. In one scenario, Sussan Ley leads a team which analyses and criticises the government's productivity proposals to ensure the best outcome for Australia and Australians. Should they choose this version of their own adventure, there will be plenty of material to tackle. The prime minister has already shown that he has no instinct for making business more efficient or even any understanding that a healthy economy relies on the private sector, creating new wealth instead of just shifting existing money around. In the first term of the Albanese government, the size of the public sector grew relative to the size of the private sector, so now each private employee is supporting more public sector salaries. Loading Then-employment minister Tony Burke passed through an industrial relations bill which makes it harder for businesses to scale up without locking themselves into costly arrangements. Meanwhile, the 'Future Made in Australia' slush fund has been 'picking winners' (code for government making decisions on industries it poorly understands) by investing in bringing in an overseas quantum technology firm rather than backing existing quantum technology firms – ahem – made in Australia. Labor is even trashing its own legacy by changing the rules on the superannuation system it forced people to contribute to, undermining trust that the money you lock away for retirement is really yours for later. It's hard to see how a government which made policies of this sort a priority and prefers the public to the private sector will back a productivity agenda which turns Australia around. But one of the great paradoxes of politics is that sometimes you need the party which is seen to be the touchy-feely side to deliver hard-nosed decisions. Think Labour prime minister Tony Blair in the UK, Democrat president Bill Clinton in the USA, or chancellor Gerhard Schroeder in Germany, all of whom delivered welfare reform in the face of their countries' badly designed benefits systems, which were creating disincentives to work.