THE Parliamentary Joint Committee on Intelligence and Security will hold two public hearings this week for its Inquiry into extremist movements and radicalism in Australia.

Various government agencies and organisations will speak at the hearing on Thursday while the Friday hearing will hear from civil society groups, academics, and tech companies.

Committee chair Senator James Paterson said, "These hearings will provide the committee with a solid base of evidence to this Inquiry. The committee is looking forward to discussing this significant national security topic with some of the leading experts in the field of extremism and radicalisation."

Due to COVID-19 restrictions, teleconference and video conference facilities will be used to connect witnesses to committee members. The hearings will be broadcast live on the Watch Parliament website.

Further information on the inquiry can be obtained from the committee’s website.

Public Hearing Details:

Thursday, 29 April 2021
10am – 4pm (AEST)
Committee Room 2R1, Parliament House, Canberra

Friday, 30 April 2021
10am – 4.30pm (AEST)
Committee Room 2S1, Parliament House, Canberra

Programs for both hearings can be found on the Committee's website.

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COVID-19 has drawn more investor interest to the health sector, particularly companies using genomics technology. It is shaping up as a hot area for venture capital firms in 2021, according to Stoic Venture Capital.

Genomics uses an organism’s whole DNA sequence to develop treatments such as vaccines or drugs. Stoic Venture Capital partner Geoff Waring said the COVID-19 pandemic revealed a greater need for investment in Australian genomics innovation.

Dr Waring said there was not enough Australian capability in the mRNA technology behind the fastest developed and highest efficacy vaccines, such as the Pfizer/BioNTech and Moderna vaccines.

“Venture capital firms see big potential for genomics technologies,” Dr Waring said.

“Example promising applications are mRNA vaccines for diseases such as malaria or HIV, precision patient-specific pharmaceuticals, or genetically engineered Chimeric Antigen Receptor (CAR) T cells which had miraculous results for even late stage cancer.”

Australian companies spun out from research in genes and genetic data are developing promising solutions that could dramatically change health care in areas such as cancer and cardiovascular disease, he said.

“The incredible efficacy and safety of mRNA COVID-19 vaccines has driven increased interest into genomics research and the genetic diagnosis and treatment of disease,” Dr Waring said.

“Using a different angle, some startups are also using artificial intelligence to identify patterns giving insights into complex genetic conditions.”

Genomics has potential application across many areas. Ophthalmology has seen promising results in Exonate, a drug development company using genomics from Australian research out of University of NSW. In February 2021 they began their phase 1b/2 clinical trial in collaboration with Janssen Pharmaceuticals.

“Exonate’s drug modulates alternative mRNA splicing to address wet age related macular degeneration, which is the leading cause of severe vision impairment for people older than 40,” Dr Waring said.

Dr Waring said investor interest in the health sector would continue to increase post-COVID-19, with venture capital firms providing critical funding to help these companies grow.

“They have to have the right value proposition, but start-ups translating genomics research into human trials are of interest,” Dr Waring said. “We are fortunate to have genomics-based research developed at leading organisations such as the Garvan Institute of Medical Research.

“Venture capital firms that understand the work of university researchers and clinicians have the best access to and understanding of the most promising innovations in life sciences.”

About Stoic Venture Capital

Stoic Venture Capital provides financing for early-stage companies, particularly those arising from university research. Stoic is unconditionally registered as an Early-Stage Venture Capital Limited Partnership (ESVCLP) and takes a collaborative approach to investing in the highest potential companies. Atlas Advisors Australia AFOF is the major limited partner for the Fund. www.stoicvc.com.au

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CORELOGIC's Rental Review for the March 2021 quarter revealed a surge in national rental rates of 3.2 percent, however the drivers of this growth are diverse, with the regions, Darwin and Perth collectively driving much of the increase.

Across the combined regional markets, rents rose 4.1 percent in the first quarter of the year while rents in the combined capitals increased 2.9 percent. Regional units recorded the highest quarterly rental growth of 4.8 percent compared to the 2 percent rise in capital city units. Capital city house rents were up 3.3 percent while regional houses rose by a higher 4 percent in the three months to March.

Houses and units in Darwin showed the strongest growth in rental rates over the quarter, up 8.2 percent and 7.0 percent respectively.

CoreLogic’s research director Tim Lawless said, "While housing rents are rising at the fastest pace since 2007, the headline reading hides the sheer diversity of rental conditions around the country. At one end of the spectrum we have Perth and Darwin where annual rental growth is well into double digits and accelerating. At the other end is Melbourne and Sydney where rents are down over the year.

“The annual decline in rents across Australia’s two largest cities is attributable to falling rents in the unit sector, where closed international borders have created a demand shock in a market that was already challenged by high supply. Melbourne unit rents have fallen by -8.2 percent over the year and Sydney unit rents are -4.9 percent lower.

“Some inner city precincts of Melbourne have seen unit rents fall by more than -20 percent over the past 12 months. Prospects for a material improvement in rental conditions across these inner city high density precincts are largely dependent on a return of tenancy demand from international students and visitors, who were previously a key component of rental demand," Mr Lawless said.

“Although rents are generally rising, housing values have been rising at a faster rate which has seen rental yields compress across most of the capital cities.  The exceptions are Perth and Darwin where rents have risen at a faster pace than housing values, driving a rise in yields. The opposite is true in Sydney and Melbourne where rental yields are plumbing new record lows.

“Outside of Sydney and Melbourne, with mortgage rates so low, yields are generally high enough to provide investors with positive cash flow opportunities from the outset,” Mr Lawless said.

Key highlights – March Quarter

• National rental rates rose by 3.2% over the first quarter of 2021; the largest quarterly increase in the national rental index since May 2007.
• Combined capital city dwelling rents rose 2.9% in the March quarter, while regional rents increased 4.1% over the same period.
• Unit rents rose across both regional and capital city markets, with regional units recording the highest quarterly rental growth of 4.8% compared to the 2.0% rise in capital city units.
• Capital city house rents were up by 3.3% over the three months to March 2021 and rents across regional houses rose by a higher 4.0% quarterly.
• Houses and units in Darwin show the strongest growth in rental rates over the quarter, up 8.2% and 7.0% respectively.
• Canberra was not only the most expensive market to rent a house across the capital cities, but also the most expensive capital city unit rental market in the quarter at $513p/w.
• Melbourne recorded the weakest growth in rents over the three months to March 2021, with house rents up 1.6%, while unit rents were unchanged over the quarter.
• National gross rental yields were recorded at 3.55%, down from 3.71% over the December quarter and 3.76% a year earlier as dwelling values outperform rental growth.
• Darwin was the highest yielding capital city, up 21 basis points over the month to 6.21%. Sydney remains the lowest yielding at 2.74%.

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WITNESSES on the Central Coast of New South Wales and in Western Sydney will speak to the Indigenous Affairs Committee this week as part of its inquiry into pathways and participation opportunities for Indigenous Australians in employment and business.

The Committee will also make site visits to The Glen Centre and Yarpa Business Hub.

Stakeholders appearing will include representatives from land councils, Indigenous enterprises and business associations, including: Barang Regional Alliance, Darkinjung Local Aboriginal Land Council, NSW Indigenous Chamber of Commerce, Speaking in Colour, Asquith Workforce, BlaQ Aboriginal Corporation, Muru Mittigar, and NSW Aboriginal Land Council.

Committee Chair Julian Leeser MP said, "These hearings will contribute significantly to the existing body of evidence for this inquiry. The committee looks forward to discussing gaps and opportunities in the workforce and future growth sectors that could result in employment and enterprise options for Indigenous Australians.

"We look forward to hearing from Indigenous business owners about their experiences running successful enterprises. It will be particularly useful to learn about present challenges and how the Government can better facilitate business opportunities," Mr Leeser said.

Public hearing details

Date: Wednesday, 28 April 2021
Time: 10am to 1:15pm AEDT
Venue: Mercure Kooindah Waters Hotel, Wyong. 

Date: Thursday, 29 April 2021
Time: 9am to 1pm AEDT 
Venue: Yarpa Business and Employment Hub, Liverpool.  

Interested parties can listen to the audio live streaming.

A full program is available at the inquiry website.

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