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🤗 Howdy Readers
In this newsletter, you'll find:
Our latest blog post discusses super for home deposits vs our boomer bonds model - who wins? (bet your excited to find out!)
Evaluating Housing Affordability Solutions: Accessing Superannuation vs. Boomer Bonds
In our latest blog post, we look at two potential solutions to Australia's housing affordability crisis: allowing access to superannuation funds for home purchases and "Boomer Bonds."
Accessing Superannuation for Home Purchases
This approach proposes permitting individuals to use their superannuation savings to buy a home. While this could help people enter the housing market sooner, there are concerns it might reduce retirement savings and drive up property prices.
"Boomer Bonds"
Alternatively, "Boomer Bonds" offer a way for baby boomers to invest in bonds that fund affordable housing projects. This strategy aims to increase housing supply without affecting personal retirement funds, providing stable returns to investors and addressing issues contributing to high housing costs.
Click the link below to read the blog post:
Updates
20-03-2025: We’re still working through our latest quality management checklist, C11 - The Enclosed Stage. It’s taken a bit longer than expected, but we’re making steady progress. The checklist has been fully drafted, and now we’re focusing on editing and formatting it to ensure it’s ready for release next week.
💾 Software of the Week: Upnote
This is not a sponsored post - just software we use and are sharing it with you
Upnote Review:
If you're searching for an affordable, straightforward and efficient note-taking app, UpNote might be worth considering. It's designed to help you organise your thoughts and information without unnecessary fluff.
What is UpNote? UpNote is an app that allows you to create, organise, and manage notes across various devices. Whether you're jotting down ideas, keeping a journal, or compiling research, UpNote provides a platform to store and access your notes seamlessly.
Why Use UpNote? Having a reliable place to capture and organise your thoughts is essential. UpNote offers a clean and user-friendly interface, making the process of note-taking and retrieval straightforward.
Key Features:
- Cross-Platform Availability: UpNote is accessible on multiple platforms, including Linux, iOS, Android, Windows, and macOS. This ensures that your notes are synchronised and available, whether you're on your computer or mobile device.
- User-Friendly Design: The app's interface is designed to be intuitive, allowing users to focus on their content without distractions. This simplicity is reminiscent of early note-taking applications that prioritised functionality over frills.
- Media Embedding: You can easily add PDFs and images to your notes, enriching your content and making it more comprehensive. This feature is particularly useful for those who need to reference documents or visuals regularly.
- Note Sharing: UpNote allows you to share notes via links, making it convenient to disseminate information without cumbersome attachments.
Who is Upnote For? UpNote is suitable for individuals seeking a reliable and straightforward note-taking solution. Whether you're a student, professional, or someone who enjoys organising their thoughts digitally, UpNote's features cater to a broad audience.
System Requirements:
UpNote supports the following platforms:
- Desktop: Windows, macOS, and Linux.
- Mobile: iOS and Android.
This cross-platform compatibility ensures that users can access their notes from virtually any device.
Considerations: While UpNote offers many super helpful features, it's important to note that it currently lacks collaborative editing capabilities. This means that multiple users cannot edit the same note simultaneously. For some, this might be a limitation, especially if collaborative note-taking is essential.
Final Thoughts: UpNote provides a balanced blend of simplicity and functionality for those in need of a dependable note-taking app. Its cross-platform support and user-friendly design make it a practical choice for organising digital notes. However, if collaboration is a key requirement, you might need to explore additional options or await future updates that could introduce this feature.
👉 Check out Upnote on the link below:
🕊️ Tool Of the Week - Blip
This is not a sponsored post - just software we have used and are sharing it with you
Send large files like the wind blows (i think that sounds right?)
(we mean: send files fast and easy)
Have you've ever struggled with sending large files over the internet? Blip might be the solution you've been looking for. It's a really easy to use and is designed to make file transfers quick and hassle-free.
What is Blip? Blip is an application that allows you to send files of any size directly from your device to someone else's, without the need for intermediary steps like uploading to cloud storage. This means you can share large videos, extensive photo albums, or hefty project folders without worrying about size limitations.
Why Use Blip? Traditional file-sharing methods often involve uploading files to a server before the recipient can download them, which can be time-consuming and cumbersome. Blip simplifies this process by enabling direct transfers between devices, making the experience faster and more efficient.
Key Features:
- Unlimited File Size: With Blip, there's no need to worry about file size restrictions. Whether it's a small document or a massive video file, Blip can handle it.
- Direct Transfers: Blip eliminates the traditional upload-download sequence by allowing files to be sent directly from one device to another, saving time and reducing potential points of failure.
- Cross-Platform Compatibility: Blip is available on multiple platforms, including macOS, iOS, iPadOS, and Android, with Windows and Linux versions in development.
- Resilient Transfers: If a transfer is interrupted due to network issues or other disruptions, Blip can resume the process without starting over, ensuring your files reach their destination.
Who's it for? Blip is ideal for anyone needing to transfer large files quickly and securely. Creative professionals, such as video editors and designers, will appreciate the ability to send high-quality media files without compression. Additionally, businesses can use Blip to share large datasets or project files efficiently.
System Requirements:
To use Blip, you'll need a device running one of the supported operating systems:
- macOS: Version 12.1 or later
- iOS/iPadOS: Version 15 or later
- Android: Version 9 or later
An active internet connection is necessary for transfers over the internet, while local network (LAN) transfers can occur without external internet access. Blip works much the same way as peer to peer file transfer networks do, without all the seeders (just peer to peer).
Final Thoughts: Blip is a practical solution for transferring large files without the usual hassles associated with traditional methods (email size limits). Its user-friendly design and robust features make it a valuable tool for both personal and professional use.
Sign up, make sure your received signs up then locate their email, upload a file, image, video and its there. Just to note: the speed of transfer does depend on your connection speed.
👉 Learn more by clicking on the link below:
Blip created by two ex dropbox engineers. Making file sharing fast and secure as.
On with the news from this week
🚀 The latest residential construction news from new sources around Australia for the news week ending 20-03-2025 🔥
A theme of these weeks news titles is: Australia’s Housing Crisis: Challenges, Solutions, and New Hope?
(yes - that was a star wars reference - LINK)
This week’s headlines paint a picture of ongoing housing challenges for the country, highlighting both the hurdles we face and showing innovative solutions emerging to tackle them.
- Housing Affordability Crisis:
Property prices continue to rise faster than wages, making home ownership an increasingly distant dream for many of us. - Construction Industry Struggles:
Over the past year, a significant number of building companies have gone boots up (or safety thongs up), worsening the housing supply shortage. Labour shortages, skyrocketing costs, and regulatory challenges are key contributors to these struggles. - Labour Shortages and Rising Costs:
With soaring land prices and high tradie wages, Sydney’s housing market has become one of the most expensive in the world, stifling development and deepening the crisis.- Brickies demanding $900 per day clearing $243k per year beating most local GP's in banking wages.
Emerging Solutions and Positive Developments:
- Policy Initiatives:
Discussions around stamp duty exemptions aim to encourage boomers to downsize, potentially freeing up larger homes for families and easing housing shortages. - Regional Growth:
Some regional markets are showing resilience, with rising property values offering more affordable alternatives to capital cities. - Government Intervention:
The reinstatement of the Queensland Productivity Commission signals a positive approach to tackling housing costs, reflecting a commitment to finding sustainable solutions.
While Australia’s housing market faces significant challenges—from affordability issues to construction industry strains—there’s a growing focus on policy reforms, support for the construction sector, and regional opportunities. These efforts offer new hope (did it again) for a more balanced and hopefully accessible housing landscape in the future.
🤔 Our View on This Week’s Most Important News
🌯🌯🌯🌯 Sydneysiders paying almost half the total property value in taxes – [LINK]
The government seems to be keeping quiet when it comes to their share of the pie. They have no real incentive to lower house prices because higher prices mean more tax revenue (without raising taxes), which lets them spend money they don’t actually have.
Think of it like this: if you were a drug addict with an endless supply, why would you ever stop?
Meanwhile, we’re all out here saying, “Do something! What about Gen Z? Think of the children!” But the government’s response is essentially, “Yeah, high prices help us pay for all the promises we’ve made—business subsidies, handouts, and whatever else we need to stay in power.”
It’s a lot like real estate agents taking a 3% commission on these inflated prices. In a market like this, where houses sell in 30 days or less, there’s way less work involved compared to a slow market. Honestly, even the potted plant out front with an internet connection could probably close a deal and pocket a fat commission. But guess who’s footing the bill for all this? Consumers.
The only reason people seem okay with it is the same logic that drives crypto: as long as they can sell and avoid being left holding the bag, it’s all good. “Not my problem, right?”
We've highlighted our favourite news articles for the week by marking with a 🌯 or five
14-03-2025
Residential Focus: Changes to strata laws – extension of Section 106 claims to six years – LINK
🌯🌯 What’s happening with the National Construction Code? We asked Neil Savery – LINK
Article Excerpt: "Former head of the ABCB, Neil Savery, who led much of the work on updates to the NCC between the early 2000s and February 2022, told The Fifth Estate that he has reached the view that continuing to do incremental change may not be the best way to get the industry to net zero."
The growing problem facing Australia’s ‘broken’ housing market – LINK
Social housing units sat empty, vandalised, for months after sudden tenant relocations – LINK
EOI launched seeking developers to deliver homes on property audit sites – LINK
Queensland Productivity Commission reinstated to tackle housing costs – LINK
Building Smarter: The Advantages of Modular and Prefabricated Homes – LINK
Hand-built 'English village' in Victoria selling for less than a typical Aussie house – LINK
Sport centre builder announced – LINK
Construction begins at events precinct – LINK
Our Comment: Click "I'm under 18" to get rid of the awful gambling ad preceding the article—because we don’t get enough of this advertising jammed down our throats already.
🌯🌯 Buying off-the-plan: tempting tax benefits but loaded with risk – LINK
Article Excerpt: "Investors should take the time to understand the contract, history of the developer, and how many of their projects they have successfully completed. Most developers contract a builder to conduct and oversee construction. For smaller developers, the proficiency of the main contractor and their subcontractors is actually the most important factor."
🌯 Australians used to love a "renovator's delight." But is the reno boom going bust? – LINK
Our comment: The shift from "renovator's delight" to "maintenance and rectify delight" is underway—making good the poor quality of new builds will be the future.
Where property prices rose most over the past five years – LINK
‘Crowdfunded’ SOHO House ushers in year’s hottest design trend – LINK
🌯🌯 (USA Article) Builders are stockpiling lumber to avoid tariffs—But at what cost? – LINK
🌯🌯🌯 Housing affordability crisis – Saving for a deposit forever – LINK
Article Excerpt: "Twenty-five years of the tax system incentivising housing speculation through the 50% capital gains discount combined with negative gearing has left Australia with a housing affordability crisis."
🌯🌯🌯 Super housing scheme could shave years off home wait – LINK
Home values could be set for slowdown – LINK
🌯🌯🌯 Five years on from COVID-19: How the housing market has changed – LINK
Our comment: This article provides a detailed summary of house prices and affordability over time, correlated with economic and market events.
Temporary ban on foreign purchases of homes is likely to have limited market impact – LINK
🌯🌯🌯🌯 Australia’s sick housing joke (LISTEN) – LINK
On why all’s fair in love, war – and a housing crisis – LINK
15-03-2025
Builder RobertsCo puts Victorian business into administration – LINK
More people are opting to build homes despite inflationary pressures – LINK
🌯🌯 Passive House, the active choice to redefine living – LINK
Experts reveal how much a house will cost in 2050 as part of a grim prediction for Australia’s future – LINK
Our comment: The comments section includes a range of diverse opinions worth reading.
Rally for Construction Reform on Tuesday – LINK
30% loss: Urgent move homemakers have to make – LINK
UK unveils new plans to revive the construction sector – LINK
Good design shaping Brisbane’s residential identity – LINK
Yarram crews celebrate new branch – LINK
Charts show how Australia's housing market has changed since COVID – LINK
COVID-19 drives surge in Australia's housing prices – LINK
🌯🌯 Five years on from COVID-19: How the housing market has changed – LINK
🌯🌯 Solution to the housing crisis is staring us in the face – LINK
🌯🌯🌯🌯 Australian housing supply falls further behind target – LINK
16-02-2025
Your builder went bust – now what? – LINK
Article excerpt/comments section: "It is not ridiculous that a builder must have a dozen approvals, insurances, and licences before they turn a sod of dirt on one side, and on another, clients are advised to check social site comments and testimonials to assess credibility?"
(Thailand) Five killed as Thai road under construction collapses – LINK
🌯🌯 Want to fix the housing crisis? Then listen to dads like Morgan – LINK
Our comment: This was heartbreaking—two jobs, a young child, and no certainty. I do not agree with the article’s author, who is trying to move the conversation away from immigration as a contributor to the housing shortage. It’s clear that if we can only supply 180,000 houses per year while immigration is at 300,000 or more, there is a shortfall—even before factoring in available rental stock.
If we assume demand is being absorbed by citizens and residents already, doesn’t it stand to reason that we pause immigration, allow supply and demand to normalise over a few years, and then gradually reintroduce migration? Saying there are systemic issues is obfuscating the simplicity of this problem.
There has always been a need for social housing—that hasn’t changed. This is just one of many demand-side factors. Yes, we need to address it, but it can be tackled by either improving supply or reducing demand.
Rental Commissioner under fire as housing crisis deepens – LINK
Article excerpt: "Sydney rents have reached an unprecedented $780 per week for houses and $700 for units, making it the least affordable state in Australia."
🌯🌯 Longer but not better: 40-year mortgages don’t make houses cheaper – LINK
Our comment: This is dumb—generational mortgages? Debt kills innovation and productivity. Fix supply, and the rest will follow (see below). We need a nation-building campaign focused on housing and manufacturing. The outcome will be jobs and increased housing supply.
It must be done. We cannot rely on private companies—they are too bloated and greedy (as outlined in the productivity report). Middle management siphons so much money, increasing housing costs without adding real value. The solution? Run it like a tech company—lean and mean in management, while building up the labour force with clear career pathways for professional development and management.
WA councils are calling on the Commonwealth to pay their fair share – LINK
More people are opting to build homes despite inflationary pressures – LINK
Victorian property: Affordability and lifestyle, interest rate-survivor suburbs revealed | PropTrack – LINK
A royal flush for SA’s booming north – LINK
17-03-2025
🌯🌯 The Queensland government sold land in Townsville's flood plain 'black zone' for housing – LINK
Our comment: It's not that flood zones cannot be built on, but you cannot put a slab-on-ground house in these areas as we have. That is just stupid. There is a good reason why "Queenslander" homes were raised off the ground and not built in.
So for all the renovators raising and enclosing your ground floor in a flood zone—expect water damage. Your house was never meant to be built in. If you do, that’s the risk you accept by choosing to "increase yield" or flip your house. Someone always pays at some point. You can't escape bad decisions, but we can all try to learn from them and make better choices next time (not repeat the bad ones).
🌯🌯🌯 ‘Multimillion-dollar profits’: One question Peter Dutton and Anthony Albanese won’t answer – LINK
Our comment: Their interests are not aligned with the needs of future homeowners. They can offer sympathies—"thoughts and prayers"—but they don’t actually care because they are not personally affected by the decisions they must make. Or, if they are affected, it’s to their detriment, so they refuse to make the tough, selfless decisions needed to build a nation.
Drastic times require equally measured responses. I don’t believe either candidate is interested in fixing the issue—just kicking the can down the road. Perhaps they should put their "money where their mouth is" by selling everything, placing their funds in escrow, getting paid the average wage for six months, standing in the rental queue for half a day, lodging 20 applications, getting rejected, and then seeing if their attitude towards affordable housing and supply doesn’t change.
Until you walk a mile, you can’t relate—despite all the platitudes, "we understand" word-smiling, faux emotions, and empty cries. Things aren’t improving, and the buck stops with them.
Orange Book 2025: Policy priorities for the federal government – LINK
🌯🌯🌯🌯 Sydneysiders paying almost half the total property value in taxes – LINK
Article excerpt: "Reardon continued: 'In Brisbane and Adelaide, government taxes, fees, and charges on new homes have doubled in five years. Not even the best legitimate investment strategies could achieve that same level of return.'"
Our comment: Rather than increasing consumption taxes like the GST, our government imposes indirect taxes to recover revenue for its budgetary expenses. So, despite consumers being blamed for inflation—being told that buying things is the problem, so interest rates must rise—we’re also expected to absorb land taxes that have doubled in five years. Consumers are told to "just work harder" to get ahead.
China, Trump, and tradies: confronting Australian home building's great uncertainties – LINK
Sydney man fined more than $470,000 for unlicensed and uninsured building work – LINK
Our comment: Only 40 breaches to receive this fine? Wow.
A home to be built behind Girdlers, North Narrabeen, and more alterations on the Beaches in this week’s Council Development Applications – LINK
Residential Focus: In The Media, In Practice And Courts, Publications, Cases, And Legislation – LINK
Residential Buildings & Retail – Macarthur Avenue, Hamilton – LINK
🌯🌯🌯 Overconsumption – a global challenge that can be addressed by architects – LINK
Our comment: Absolutely! Architects do fantastic work. The main issue is their lack of involvement in the affordable housing sector. Project builders just churn out the same designs to suit their business model, which leads to zero innovation. Architects can fix this—but how do we bring their expertise into the affordable housing market?
Administrators, developers comb through RobertsCo wreckage – LINK
🌯🌯 The rise of Urban Core and its founder Dominique Gill – LINK
Our comment: Best wishes to Urban Core in their journey.
Maribyrnong: New house price record set by car collector’s dream home with an eight-car garage – LINK
18-03-2025
Giddy up! Trackside homes prove popular with property punters – LINK
Housing crisis shock: Half a million homes short of target – LINK
Article excerpt: “2025 is the year for Australia to redouble our housing supply efforts with the urgency and commitment this crisis demands,” Mr Zorbas said.
Our comment: How? If this could be done, it would have been done already. Sounds to me like The Simpsons method of management:
"Are you working as hard as you can?"
"No, sir, I shall work harder." (Proceeds to double output since asked.)
Article excerpt: "The Australia Institute’s chief economist Greg Jericho said capital gains tax and negative gearing reforms needed to be considered in the lead-up to the federal election. 'The settings that we have at the moment, that have been in place for 25 years now, are not working — in fact, they’re making things worse,' Dr Jericho said."
Housing crisis worsens despite shortfall improvement – LINK
Supply time bomb ticking, but renters can save $90 a week if we reach 2029 housing targets: new research – LINK | Report download: LINK
And this article (media blitz in progress) Smarter Incentives, More Homes – LINK
Our comment: I feel the PCA wasted their money commissioning this report. The key findings were:
- "We’re not building enough homes." (Yep, the ABS reports on this already.)
- "We need to talk more and be more transparent." (Yep, holding hands helps too.)
- "Let’s establish another government committee to talk about this some more."
Bugger me. This is why nothing gets done.
Our great idea: Take all the money paid to marketing and PR companies, or funds allocated to lobby groups like HIA, QMBA, PCA, and put it into an innovation fund for housing-focused startups and housing innovation. Keep doing the same things and get the same shitty results. Instead of paying marketing and PR bullshitters to push a narrative that supports their position, try fostering actual innovation. Wasted money doesn’t build new properties—it just funds consultants to puff about.
Housing crisis failure: 96,000 homes short of QLD target – LINK
🌯🌯 ‘Supercharged house price hike’: Academic throws cold water on Liberals’ super-for-housing scheme – LINK
Draft plan lays foundation for more affordable rental housing (Camden) – LINK
Three scenarios for Australia's housing market – Ray White – LINK
Our comment: This article seems to rely on either a slippery slope fallacy or a red herring argument. We outlined 10 common fallacies in this article HERE.
There are many other possible outcomes, but the author has picked a few topical interest points to suggest these are the most likely cause-and-effect relationships.
Alternative positions could be:
- Creation of a new national housing authority tasked with filling the demand for social and affordable housing.
- Establishment of state-based housing investment corporations to kickstart the manufactured home industry in each Australian state.
- Changing investment laws to encourage housing supply-side deals through government-secured real estate-backed securities.
Australian residential building approvals surge in January, led by apartment projects – LINK
🌯🌯 Sam can't afford to live alone. His path to home ownership would 'ruin his future' – LINK
Construction projects worth billions in limbo as Roberts Co's Victorian arm folds – LINK
Multiplex tops out John Hunter Health and Innovation Precinct (Newcastle) – LINK
Bathla launches Hillview Crescent, North Kellyville townhouse development – LINK
The K2K Plan to transform Kensington and Anzac Parade corridor – LINK
19-03-2025
Tradie calls out dodgy detail on new build costing homeowners thousands: 'Deceptive' – LINK
(USA) A $9,200 ‘Tax’ on New Houses — Lumber Tariffs Punish Homeowners – LINK
🌯🌯🌯 How building an energy-efficient house delivers big cost savings – LINK
Our comment: We've discussed this in several of our posts HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, HERE, AND HERE.
So yes, we rant about this quite a bit. :-)
‘Modern-day mafia’: Building industry let down as CFMEU corruption claims arise – LINK
Builder appointed for Moree Hospital Redevelopment – LINK
VBA secures injunction as builder faces charges, fines – LINK
FDC completes Ascent on Bourke warehousing facility – LINK
Labor questions Coalition's 500,000 homes claim as election fight hones in on supply – LINK
New guide to drive circular procurement in Australia’s built environment – LINK
Report download: LINK
High construction activity in Melbourne: Does it stifle property value growth? – LINK
$234k a year: The tradie ‘to blame’ for the housing crisis – LINK
🌯🌯 The Stats Guy: New housing is desperately needed but often not wanted – LINK
Australians need a six-figure income to afford the average rental, report finds – LINK
Meeting housing targets could lead to savings for renters: Study – LINK
Record housing resale returns amid high prices and tight supply – LINK
Housing crisis shock: Half a million homes short of target – LINK
Research reveals the huge salary needed just to afford to rent a home as the housing crisis deepens – LINK
20-03-2025
Construction workers 'flying blind' amid lengthy development approval processes – LINK
Our comment: While I agree with the general criticism of approval delays, the conversation often ignores that many delays result from the quality of the application itself. Missing details, incomplete information, and incorrectly filled applications lead to RFIs (Requests for Information), which slow down the process.
I often speak with a friend who is a building certifier, and they are overwhelmed with poor-quality applications. Many building companies have outsourced their administration overseas or employ unskilled admin staff who lack construction knowledge to draft approval applications. As a result, applications are submitted missing key information, placing an unnecessary burden on certifiers.
Under their (the certifiers) regulatory and licensing obligations, certifiers must review and instruct applicants on the issues with their applications—essentially playing the role of a grade school teacher marking homework and sending it back for another attempt.
Before throwing approval authorities under the bus, consider the quality of what they are dealing with. Builders and contractors are not "pure and innocent" in this process.
Things are most likely not as simple as they are being made out to be here.
🌯🌯🌯🌯 Brace for a building shake-up: Proposed changes to Victoria’s legislation on the horizon – LINK
Our comment: This is quite an interesting development.
Homes you can build for under $250k in Australia – LINK
🌯🌯 The case for retrofit housing – LINK
Australian homeowners are making a record average profit on their property sales – LINK
(NZ) The Perfect Solution — NZ Should Look to the USA on Timber Buildings – LINK
Griffith affordable housing builder allegedly $3 million in debt as subcontractors chase money owed – LINK
Hutchinson Builders wins $105 million Moree Hospital Redevelopment – LINK
Builder faces criminal charges, $1M in fines – LINK
Construction begins on eight-storey $73.7m Sorrento luxury beachfront apartment complex – LINK
Harnessing the renovation boom for climate and sustainability goals – LINK
🌯🌯🌯 Golden Sedayu establishes Golden Sedayu Construction to deliver landmark Burswood Point masterplan – LINK
Our comment: You’re going to see much more of this—developers integrating building companies. Developers are trying to cut construction costs, and this is their "only way."
Currently, builders of larger projects are demanding fees plus profit share, and developers don’t want to pay this. It will be interesting to see how this plays out because while developers will throw money at attracting talent, after a year or two, the talent may tire of the company and move on—meaning it won’t be all smooth sailing.
Being a developer and running a building company are two entirely different beasts. Builders are not easy to deal with and will find ways to maximise return for themself even when working directly for the developer.
I wish them well, and I understand why they are doing this, but I don’t think it will end well unless they can foster a strong company culture and a great working environment.
Housing supply boost puts government one step closer to achieving targets – LINK
🌯🌯🌯 Home In Place targets the housing crisis with the "One in Ten" plan – LINK
Media Release – Shelter WA congratulates new ministers, looks forward to strong leadership on housing and homelessness – LINK
Fed Gov boosting NSW housing – LINK
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18-03-2025 Update - we've moved file sharing service from Papermark to Transfernow which is much easier and faster to use. All links in the url above (checklist url) have been updated to transfernow which is in a partner company name "ACCELX".
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