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Adrian Harrington

The economy, bond yields and real estate: where to from here?

The gap between property yields and bond yields is known as the ‘risk premium’, the excess yield from investment in commercial property. The high yield spread signals limited downside to commercial property values.

Offices will live on in a post-COVID world

  The concept of 'activity-based working', where several people occupy one seat on a particular day, is gone. Businesses will need more space for the same number of people as an offset to the decline in demand.

Not all non-residential real estate performs the same

Retail assets, particularly those focused on discretionary shopping, will continue to underperform and industrial and logistics assets will be the winners for the foreseeable future.

Strong capital flows support non-residential real estate

In this 'lower for longer' rate environment, investors are recalibrating expectations of the required return from high-quality real estate, and foreigners are targetting Australia.

Sale and leasebacks benefit both companies and investors

Property funds are finding new assets in companies making better capital management decisions by selling their properties and leasing them back. It also gives investors strong long-term returns.

Long lease property funds: follow the income

Investors should not assume all property leases are the same, and long WALE funds have the advantages of tenant quality and term, plus look for the highly-desirable 'triple net leases'.

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Retirement

Why it’s time to ditch the retirement journey

Retirement isn’t a clean financial arc. Income shocks, health costs and family pressures hit at random, exposing the limits of age-based planning and the myth of a predictable “retirement journey".

Financial planning

How much does it really cost to raise a child?

With fertility rates at a record low, many say young people aren’t having kids because they’re too expensive. Turns out, it’s not that simple and there are likely other factors at play.

Exchange traded products

Passive ETF investors may be in for a rude shock

Passive ETFs have become wildly popular just as markets, especially the US, reach extreme valuations. For long-term investors, these ETFs make sense, though if you're investing in them to chase performance, look out below.

Shares

Bank reporting season scorecard November 2025

The Big Four banks shrugged off doomsayers with their recent results, posting low loan losses, solid margins, and rising dividends. It underscores their resilience, but lofty valuations mean it’s time to be selective. 

Investment strategies

The real winners from the AI rush

AI is booming, but like the 19th-century gold rush, the real profits may go to those supplying the tools and energy, not the companies at the centre of the rush.

Economy

Why economic forecasts are rarely right (but we still need them)

Economic experts, including the RBA, get plenty of forecasts wrong, but that doesn't make such forecasts worthless. The key isn't to predict perfectly – it's to understand the range of possibilities and plan accordingly.

Strategy

13 reflections on wealth and philanthropy

Wealth keeps growing, yet few ask “how much is enough?” or what their kids truly need. After 23 years in philanthropy, I’ve seen how unexamined wealth can limit impact, and why Australia needs a stronger giving culture.

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