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THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA

ISSUE 05 SPRING 2020
MEMBER PROFILES LANDSON GLASS 10 | PAARHAMMER 12 |
CASE STUDIES STEGBAR 16 | ELEMENT WINDOWS 18 |
GLASS 24/7 44 | COTTON’S GLASS & ALUMINIUM 46
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
SCREENS                                                                                                      43

        SCREENS

                                                                                                                     44
Glass 24/7

                       CASE STUDIES         Breaking Windows & Preventing Falls Glass 24/7                                 44
                                            Carrington House Cotton’s Glass & Aluminium                                    46
IMAGE

                       BUSINESS SNAPSHOT    PRW Security Doors & Screens Q&A with Brad Wickett                             49

                       NEWS & PRODUCTS      ASSA ABLOY Yale Quattro® Slider                                                51
                                            Doric’s Highest Level of Security Yet                                          52
                                            Luxury Screen by Elite Security Screens & Doors                                53
                                            9th Successive OHS Award For Meshtec                                           53
                                            Why is AS 5039 Compliance Labelling So Important for Our Industry?             54

                       MEMBERSHIP           Association Membership Gives You the Advantage                                 55

                       UNIQUE JOB           Platinum Glass & Security                                                      57

                       DIRECTORY            NSSA Welcomes Our new members                                                  57
                                            NSSA Calendar Important dates                                                  57
                                            NSSA Socials Join our community online                                         57

                       PROUD CONTRIBUTORS
                       TO THE NSSA
                       DEVELOPMENT FUND
                       2020-2021

                                                                                              ISSUE 05 SPRING 2020   BUILTVIEW
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
44                                                                                                              SCREENS

 CASE STUDY

BREAKING WINDOWS
& PREVENTING FALLS
Supporting a safe and productive environment for students.

L
     ocated in Taree, in the Mid North Coast region of New
     South Wales, Chatham High School began operation
     in 1965. As is a common occurrence in most schools,
classroom windows were regularly broken by stray balls at
lunch time. Unfortunately, the putty used to hold the glass in
the old windows was known to contain asbestos.
While Glass 24/7 worked on boarding up the damaged
windows and getting the putty tested for asbestos, the
decision was made to replace all windows in the affected area
of the school. This meant that Chatham High School would not
be left with boarded up windows while waiting for test results.
After the asbestos was removed by specialists and windows
were installed, the windows were fitted with Amplimesh®
SupaScreen® security screens by Glass 24/7.
Amplimesh® SupaScreen® security screens are made from a
high tensile, 316 marine-grade stainless steel mesh providing
the school with unparalleled security complemented by one of
the best viewing angles on the market.
In just 15 days, Glass 24/7’s team of two tradespeople and
two apprentices measured, manufactured and installed
74 Amplimesh® SupaScreens. The screens, each measuring
1820 mm x 1660 mm, were installed over two levels in the 55-
year old school building.
Selecting from a range of colours and style options that best
suited their window frames, Chatham High School was so
pleased with the finished result that they ordered another 69
screens to be installed in different areas of the school.

PROMOTING A PRODUCTIVE ENVIRONMENT
The installation of the Amplimesh® SupaScreens has resulted
in immediate energy cost savings for Chatham High School
– providing an energy efficient way of cooling classrooms
through natural cross-flow ventilation. With hot and stuffy
classrooms a thing of the past, students and staff are
provided with better air quality – more oxygen results in
better concentration and mental clarity and is one of the main
reasons why students perform better in well-ventilated rooms.
Amplimesh® SupaScreens are WERS rated for both UV-                   LOCATION     Chatham High School, Taree,
resistance and energy efficiency. By providing a significant         				         New South Wales
reduction in glare, without forfeiting natural light, students are
able to work in a more productive environment.                       FABRICATOR   Glass 24/7

In addition to helping the school reduce their carbon footprint      SYSTEM			    Capral Aluminium
for many years to come, Amplimesh® SupaScreens require low           PRODUCTS     Amplimesh®
maintenance and are backed by a 16-year warranty.                    				         SupaScreen®

BUILTVIEW      ISSUE 05 SPRING 2020
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
SCREENS                                                                                  CASE STUDY: GLASS 24/7          45

UNPARALLELED SECURITY & SAFETY                                 • Knife shear test (AS 5039 and AS 5041).
Without air conditioning, eight rooms on the second floor      • Fire attenuation test (AS 1530.4:2005, Appendix B7).
of the school relied on open windows for ventilation.          • Bushfire compliance (AS 3959:2018).
Unfortunately, these windows did not have any pre-existing     • Cyclone missile impacts (AS 1170.2:2011).
security screens or fall prevention measures presenting a
                                                               • Fall prevention (AS 5203:2016).
danger to staff and students.
Manufactured with fall protection technology, the Amplimesh®
SupaScreen® security screens enable the second-storey
windows to be safely opened by teachers without jeopardising
the safety of their students. The use of security screens on
all ground floor windows also acts as a deterrent to prevent
break-ins and acts of vandalism. As an added bonus, the
school no longer has to worry about children accidentally
breaking windows whilst playing outside.
With Amplimesh® SupaScreen®, both students and teachers
feel safe inside the building knowing they are protected by
security screens that exceed Australian Standards.             Glass 24/7
                                                               65 Whitbread Street,
Amplimesh® SupaScreen® products have met the requirements
                                                               Taree, New South Wales 2403
for compliance with the following Australian Standards:
                                                               glass247.com.au
• Security and dynamic impact tests (AS 5039 and AS 5041).     02 6557 7247

                                                                                             ISSUE 05 SPRING 2020   BUILTVIEW
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
46                                                                                                                         SCREENS

 CASE STUDY

CARRINGTON
HOUSE
This 1880s home is on a renovation journey to retain its
period charm while meeting modern living expectations.

W
          hen the team                                                                                  With Naomi’s plan to
          from Cotton’s                                                                                 install French timber
          Glass &                                                                                       doors at the front of the
Aluminium approached                                                                                    house, the team worked
Carrington House for the                                                                                together to find the best
first time, they thought                                                                                solution to achieve a
the cottage looked                                                                                      seamless flow from old to
like most of the other                                                                                  new, pairing the timber
traditional dwellings in the                                                                            doors with modern Invisi-
street. But that quickly                                                                                Gard French security
changed when they went                                                                                  screen doors.
inside.                                                                                               “You can see in the end
“We were confronted                                                                                   result how we were able
with a house that was                                                                                 to look at the design and
in total disrepair,” says                                                                             living intent, and offer
David Flynn, Managing                                                                                 the best solution for the
Director of Cotton’s Glass                                                                            space,” says Samantha.
& Aluminium. David and                                                                                While the French doors
his fabrication team had                                                                              give the cottage character
been called in by Alspec®                                                                             and a vital connection to
to assist Naomi Findlay, a                                                                            the outdoors, the screen
well-known renovator and designer, who took on the challenge       doors meet modern living expectations, providing security and
of renovating the derelict home. Alspec® were engaged by           insect protection.
Naomi to manufacture many of the new window and door
                                                                   “People love the traditional nature of gorgeous French
elements being incorporated into the home – including Invisi-
                                                                   doors, but we have to be realistic – form without function is
Gard security screens.
                                                                   absolutely useless,” explains Naomi.
Renovating the cottage one room at a time, Naomi is
                                                                   Whilst adding the Invisi-Gard doors provides essential
documenting and sharing the journey with others. “In
Carrington House, I saw a diamond in the rough,” she explains.     security and protection, light and views are also retained,
“My vision is to bring the cottage back to life, retaining its     complementing Naomi’s interior design. “I made sure I chose
heritage while adding modern functionality.”                       a product which had the ability to look as internally integrated
                                                                   as possible,” she says.
The cottage dates back to the early days of West Wallsend
which came to life as a coal mining town in the mid-1880s.         Naomi was able to select an Invisi-Gard profile, hinges and
Today it is a growing residential area, well known for its         door handles which were indoor-oriented. “When the outer
federation homes and miners cottages with period features.         doors are open, the security screens on the inside actually
                                                                   disappear – it’s like they are not even there!” exclaims Naomi.
“Staying sympathetic to the history of the cottage has been an
important element of the renovation,” says Samantha Wykes,         With their triple locking system, double flush bolt, and impact
National Brand Manager for Alspec®. “We recognised that it         and knife-resistant mesh, the high visibility of Invisi-Gard
was important to work closely with Naomi to ensure her vision      screen doors provide a secure environment when the main
could be both visually stunning, but also functional for today’s   doors are open, giving peace of mind to occupants inside.
living.”

BUILTVIEW      ISSUE 05 SPRING 2020
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
SCREENS                                                          CASE STUDY: COTTON’S GLASS & ALUMINIUM             47

                                                                             Cotton’s Glass & Aluminium
                                                                             4 Carbine Close
                                                                             Maryland, New South Wales 2287
                                                                             cottonsglass.com.au
                                                                             info@cottonsglass.com.au
                                                                             02 4955 9152

Installing the French screen doors was straightforward for the               FABRICATOR          Cotton’s Glass &
Cotton’s team, measuring and easily fitting them to the newly                				                Aluminium
built timber doors and jambs.                                                SYSTEM			           Alspec®
“Invisi-Gard screens give the house something that was not                   PRODUCTS            Invisi-Gard Security
possible back when it was built in the 1880s,” says David.                   				                Screen Doors
“They seamlessly integrate into this unique build and provide
airflow, security and insect protection.”                                    DESIGNER		          Naomi Findlay

While the original cottage renovation is well underway, the
team from Cotton’s Glass & Aluminium and Alspec® are
working closely with Naomi on plans for the extension to the
back of the home, where Invisi-Gard screens and windows and
doors from Alspec’s Carinya residential range will feature.

                                                                                      ISSUE 05 SPRING 2020    BUILTVIEW
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
MORE
          MORE FOR
               FOR
          MEMBERS
          MEMBERS
                                   STAY
                                    STAYUP
                                         UPTO
                                            TODATE
                                               DATE
                Keep abreast
                   Keep      of industry
                        abreast           news,
                                 of industry     changes,
                                              news,        regulations,
                                                    changes,            updates
                                                              regulations,      andand
                                                                           updates  opportunities
                                                                                       opportunities
                                     via via
                                         NSSA   Socials,
                                             NSSA        eNews
                                                   Socials,     andand
                                                            eNews    website.
                                                                         website.

                             ACCESS
                              ACCESSTO
                                     TOTHE
                                        THEBEST
                                            BEST
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                                                                                               advice
               an industry network
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                                                      business       as aasprofessional
                                                               operate                   andand
                                                                            a professional    compliant
                                                                                                 compliant
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                                                 security     business.
                                                          screen business.

                                        COMPLIANCE
                                         COMPLIANCE
                Identify youryour
                    Identify   business   as compliant
                                   business   as compliantto the  Australian
                                                              to the         Standards.
                                                                     Australian           NSSA
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                                                                                             NSSA members
              follow  a strict
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                                                                   by the NSSAto provide  consumers
                                                                                  to provide        a high
                                                                                             consumers  a high
                                             level of standards
                                                level  of standardsandand
                                                                        service.
                                                                           service.

                                           STAND
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                  AddAdd
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                                                                                                provide
              members   – from
                  members       marketing
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                                                   business, annual
                                                      business,      Design
                                                                 annual      Awards,
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                                          involved    have youryour
                                                         have   saysay
                                                                     on the industry
                                                                        on the        andand
                                                                                industry   the the
                                                                                                Association.
                                                                                                   Association.

             JOIN
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                                BEPART
                                   PART
             OF
              OFAAGROWING
                   GROWINGCOMMUNITY.
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               ForFor
                   further information
                      further          contact
                              information      info@nssa.org.au
                                          contact info@nssa.org.au
                                                                or call 02 02
                                                                   or call 9160 4737
                                                                              9160 4737

Download thethe
  Download   member application
                member          form
                       application    andand
                                   form   member information
                                             member          book
                                                    information   at nssa.org.au/nssacontent/join
                                                                book at nssa.org.au/nssacontent/join
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
SCREENS                                                                                                                           49

                                                                        BUSINESS SNAPSHOT

PRW SECURITY
DOORS &
SCREENS

NSSA Board Member
Brad Wickett from PRW
Security Doors & Screens
joins BuiltView for our
spring Q&A.

BV How long you have been in this                 of COVID-19, we are all experiencing    BV What’s the best part about being a
   business?                                      the same challenges, such as               member of the NSSA?
BW PRW Security Doors & Screens is a              keeping work coming through the
                                                                                          BW The ‘shared’ knowledge of NSSA
   family owned and operated business             doors and keeping our staff in their
                                                                                             members, including the Board
   that has been operating in the                 jobs.
                                                                                             of Directors, totals centuries of
   industry for over 30 years.                BV Does your business support a charity        industry experience. I always know
BV How many employees do you have                or other worthwhile cause?                  that at any time, I only have to
   and what do you look for in an             BW Over our 30 years in business, we           make a call or send a message and
   employee?                                     have supported many local projects,         the appropriate person will always
                                                 including a young local teenager            respond to our questions, no matter
BW PRW currently employ over 40
                                                 who was an up-and-coming go kart            how big or small.
   staff. We are always on the lookout
   for committed individuals to join             driver and the local netball club.           The NSSA keeps all of their
   the team. We work as a team by                We also support our clients through          members up-to-date through many
   supporting and encouraging one                contributing to fundraisers for the
                                                                                              avenues, including social media. This
   another and we take the health and            likes of Ronald McDonald House,
                                                                                              is an easily accessible resource for
   safety of our team seriously. So              the Cancer Council and the National
                                                                                              us along with a great comradery
   these personal priorities are always          Breast Cancer Foundation.
                                                                                              with all members of the Association.
   things that we look for in our staff.      BV If you had one piece of advice for
                                                                                              At PRW Security Doors & Screens,
BV What’s it like to work at PRW?                someone just starting out, what
                                                                                              we believe that we can play a key
                                                 would it be?
BW We work as a team. We take pride                                                           role in educating everyone in our
   in our work, so we can celebrate our       BW My advice would be to ensure they            industry. Being a part of the NSSA
   contribution to the success of the            understand the relevant Australian           Board of Directors and Technical
   team and also celebrate our own               Standards for security products              and Marketing Committees enables
   personal achievements together. We            – AS 5039 – Security screen doors            us to play a part in ensuring that
   are all like family.                          and security window grills, AS 5040
                                                                                              we, as an industry, continue to
                                                 for installation, the method of
BV What has been your biggest                                                                 deliver a high quality product that
                                                 test standard AS 5041, as well as
   challenge in this industry?                                                                is manufactured and installed to
                                                 AS 3959 for bushfire rated products,
                                                                                              Australian Standards.
BW I think, like everyone else in the            and obtain the correct licences
   business, one of our greatest                 required for their particular state.
   challenges are companies that claim            I would also recommend that they        PRW Security Doors & Screens
   to provide security products when,             join the NSSA, which is where they      37 Dunn Road,
   in actual terms, they are providing            will be able to access and benefit      Smeaton Grange,
   inferior products that do not comply           from the cumulative information and     New South Wales 2567
   with Australian Standards.                     experience of members that have         02 4648 6111
    I also believe that, being in the midst       been in the industry for a long time.   prw.com.au

                                                                                                  ISSUE 05 SPRING 2020   BUILTVIEW
THE INDUSTRY MAGAZINE OF THE AGWA & NSSA - ISSUE 05 SPRING 2020 - Window Energy Rating ...
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SCREENS                                                                                                                                    51

                                                                               NEWS & PRODUCTS
ASSA ABLOY YALE QUATTRO® SLIDER

01                          02                             03                              04

A
       SSA ABLOY recently announced           locking snib pre-installed into the           01 Yale Quattro® Sliding Security
                                                                                               Screen Door Lock (Y8103) in
       the launch of the new Yale             internal escutcheon. At install, all that        Black.
       Quattro® Y8103 Sliding Security        needs to be configured to suit sliding        02 Y8103 in White.
Screen Door Lock, complementing their         direction is the latching handles and pull    03 Y8103 in Primrose.
total Yale offer for the security screen      handles, and the rest is already taken        04 Y8103 in Silver.
door market. Let’s take an in depth look      care of, quick and easy!                      05 Yale Quattro® Sliding 3-Point
                                                                                               Locking Kit.
at this new lock, its features, and how
                                              But don’t think that the easy install
it can be used to diversify end product
                                              means that the Yale Quattro® is
offerings.
                                              lacking in security. Short of having the
With Lockwood’s 8653 at the top end           stainless steel hardware of the premium
of the market, and Whitco’s great value       Lockwood 8653, amazingly, the Quattro®
Leichhardt being a dominant volume            shares similar security and durability
player, one would think that ASSA             ratings, as tested to all the relevant
ABLOY already had the market covered.         Standards. All fixings are internal and
However, the team recognised growth           the Yale Quattro® also has a 3-point kit
in the middle market segment and              available, for a well-rounded offering.
developed the Yale Quattro® to meet
that need.                                    Finally, let’s face it, no-matter how good
                                              the lock is and how much installers
Combining some of the high security           love it, good looks sell. For the style
features of the 8653 with some of the         conscious consumer, this lock is modern,
value features and popular dedicated
                                              sleek, and minimalistic.
locking snib of the Leichhardt, the Yale
Quattro® is an exciting new product that      Available in a broad range of colours,
offers high security at an affordable         Quattro® will suit any look the customer
price.                                        wants. This too is appreciated by
                                              security door fabricators, having a lock
In addition to this, the Yale Quattro® is
                                              that enhances all their great work.
very quick and easy to install – providing
a clear value proposition to the installer    The Quattro® is sure to create a stir and
as well as the end consumer.                  excitement in the market, and will be
                                              seen on many new builds this decade.                                              05
The designers really thought about the
                                              The Yale Quattro® is a refreshing modern
total cost to their customers – resulting
in a well thought out design that             lock that extends the style of the home
reduces the time-cost of install as well as   right through to the sliding security
product cost. The considerate design is       door.
appreciated by installers.
Fitting into industry standard cut-outs,      For more information, visit
the Yale Quattro® has an integrated           www.yalelock.com.au

                                                                                                       ISSUE 05 SPRING 2020          BUILTVIEW
52             NEWS & PRODUCTS                                                                                                    SCREENS

DORIC’S HIGHEST LEVEL
OF SECURITY YET

A   s one of Australia’s leading window and door hardware
    manufacturers, Doric has a long history of pioneering and
innovating many industry leading products. Since 1972, their
award winning products have made their way into residential
and commercial properties across the globe. In addition to
window and door hardware, Doric has also been a long-term
key supplier to the security industry, continuously evolving
their range within a changing landscape.
A few of Doric’s key security product offerings include:

DS2075 HINGED BARRIER                 DS2210 SLIDING SCREEN             DC224 SECURITY DOOR               CMESH STAINLESS STEEL
DOOR LOCK                             DOOR LOCK                         CLOSER                            SECURITY MESH
Designed to provide secure            The DS2210 includes a parrot      The DC224 is an innovative        CMesh is a premium product
and optimal performance for           beak deadlock and an inside       update to Doric’s DC223           offering from Doric for the
hinged security and barrier           snib. Self latching, the DS2210   Pneumatic Swing Door              Australian woven stainless
screen doors, the DS2075 is           can be key deadlocked from        Closer, simplifying the           steel mesh market.
made from a zinc die cast             both sides.                       process with a streamlined        For fabricators, CMesh can be
body with a stainless steel                                             hold-open button.
                                      Featuring zinc die cast                                             installed on larger and wider
strike.                               furniture and locking             HOW IT WORKS                      doors without requiring mid-
Designed to suit standard             mechanisms, the DS2210                                              rail support. Easier installation
20 mm door thickness, the             has also been tested to and       During initial operation, press   is aided by total flatness over
DS2075 features include:              exceeded AS 4145. Other           the hold button then open         the whole sheet.
                                      features include:                 the door to the required
• Non-handed furniture for                                              position. The door will stop      For the end-user, the 316
  left or right handed doors.         • Compatible with left and        there. Alternatively, open the    Grade Stainless Steel
• Accepts Doric Euro profile            right handed closing            door to the required position,    provides high corrosion
  lazy cam cylinder.                    sliding doors.                  then depress the hold button      resistance while the thick
                                      • Key overrides snib              to stop the door.                 gauge wire ensures a strong
• Tested to and exceeds
                                        operation.                                                        level of security. The mesh
  AS 4145 – Locksets and                                                To close the door, open the       has been designed to resist
  hardware for doors and              • Suits Doric Euro profile        door further so that the hold     shearing, impact and slicing.
  windows.                              lazy cam cylinder locks.        function is released.             It won’t hamper your home’s
• Optional DS2079 multi-              • Optional DS2269 multi-          The DC224 features include:       airflow, providing vital
  point kit available for               point kit available.                                              protection and a fresh breeze.
                                                                        • Quick and easy installation.
  increased security.                 • Available in a range of                                           CMesh also provides a great
                                                                        • Variable speed/force            visual aesthetic through sheet
• Available in a range of               colours.
                                                                          adjustment screw.               flatness and colour finish.
  colours.
                                                                        • Tested up to 24 kg.

                                                                        For more information, contact sales@doric.com.au, call
                                                                        1300 132 389 or visit doric.com.au

BUILTVIEW      ISSUE 05 SPRING 2020
SCREENS                                                                                        NEWS & PRODUCTS              53

LUXURY SCREEN                                                              9TH SUCCESSIVE
BY ELITE SECURITY                                                          OHS AWARD FOR
SCREENS & DOORS                                                            MESHTEC

LUXURY SCREEN                        STANDARD SCREEN

L  uxury Screen can seamlessly connect the inside of your home to
   the outside world, with the latest nanotechnology from Japan.           M    eshtec take Work Health and Safety (WHS)
                                                                                very seriously, placing a premium on the
                                                                           health and wellbeing of their employees – which
KEY FEATURES & BENEFITS                                                    is now more important than ever in these difficult
• Crystal clear view                                                       times. As such, they are always seeking to
                                                                           implement new and innovative WHS measures and
   With Japanese nanotechnology, thinner sheer strands, nearly
                                                                           improve existing systems and processes.
   invisible to the naked eye, create a softer impact to enhance your
   view.                                                                   Meshtec are extremely proud to announce that they
                                                                           have recently received ‘The National Occupational
• Anti-insect mesh
                                                                           Safety and Health Award’ from the Thailand Ministry
   With a higher strand count than a standard screen, 33 versus 18         of Labour’s Department of Labour Protection and
   strands per inch, Luxury Screen keeps out the smallest insects,         Welfare in the category of ‘Best Safety Manufacturer
   even midges and sand flies.                                             for Year 2020’.
• Greater airflow, greater comfort                                         Recipients of the Award are honoured as role
   A 0.15 mm ultra-fine strand diameter enables maximum airflow –          models, serving as a positive example for
   25 per cent better than a conventional screen, providing superior       others to benefit society as a whole. The Award
   ventilation that leads to a higher level of indoor air quality for      demonstrates Meshtec’s commitment to the
   your home.                                                              principles of ongoing and continuous improvement
                                                                           of their entire Safety Management System.
   The tiny aperture of the sheer mesh in Luxury Screen allows over
   60 per cent airflow through the screen - significantly higher than      Along with the prestigious ‘Prime Minister’s Industry
   fibreglass mesh.                                                        Award 2014’ in the category of ‘Safety Management’,
                                                                           this is Meshtec’s ninth successive award – an
• Safe, eco-friendly material                                              unprecedented achievement for a manufacturing
   Made from environmentally friendly polypropylene, Luxury                company in the Northern Thailand region.
   Screen is proven to be completely safe for both you and your            Meshtec are committed to providing a safe and
   pets.                                                                   healthy environment and workplace based on
Suitable for:                                                              international standards. Along with their product
                                                                           range, their goal is to always exceed these
• Flyscreens
                                                                           standards.
• Fly doors
Luxury Screens are easy to maintain by washing thoroughly with
                                                                           For more information, visit meshtec.com
a neutral cleaner, like dishwashing detergent, or by simply using a
vacuum or soft brush.

For more information, call Elite Security Screens & Doors on
02 9838 1016 or email quotes@elitessd.com.au

                                             IMAGE: Comparative view
                                             between Luxury Screen mesh
                                             and a standard screen mesh.

                                                                                               ISSUE 05 SPRING 2020   BUILTVIEW
54                NEWS & PRODUCTS                                                                                                                  SCREENS

WHY IS AS 5039 COMPLIANCE
LABELLING SO IMPORTANT
FOR OUR INDUSTRY?

A    s part of the security requirements
     of Australian Standard (AS) 5039
– Security screen doors and security
                                                      For consumers, this label means
                                                      assurance, quality, performance and
                                                      security. For members, correctly
window grilles, it is mandatory to label              labelling every AS 5039 compliant
all screening products that are sold as               security screen window grille and
a security screen. Labelling is essential             security door that leaves your factory
as it provides the customer with a                    or workshop with the NSSA AS 5039
guarantee that the security screen or                 Compliance Label helps to lift the profile
door they purchase is verified and tested             of compliance, your business and the
to Australian Standards.                              National Security Screen Association.
The NSSA AS 5039 Compliance Labels                    Importantly, the Competition and
communicate meaningful product                        Consumer Act 2010 (previously known
information. The Compliance Labels                    as the Trade Practices Act 1974) protects
placed onto security screens and                      consumers from businesses making false
security doors provide consumers                      or misleading representations. In order
with peace of mind, knowing that the                  to label a product a ‘Security Screen’,
products labelled are manufactured                    members must be able to verify that the
to comply with the requirements                       product has been tested and conforms

                                                                                                                                                             Decoview
of AS 5039 and that the design                        to AS 5039 requirements.
performance has been verified by a
NATA Accredited Test Laboratory in
accordance with AS 5041 Methods of                    For more information on the NSSA

                                                                                                                                                             IMAGE
test – Security screen doors and window               AS 5039 Compliance Labels, contact
grilles.                                              info@nssa.org.au

                                                                                   Stainless Steel Mesh Security System
                                                                                   The ScreenGuard Stainless Steel Mesh System for windows and
                                                                                   doors is designed to offer maximum security, visibility and style.

                                                                                   ScreenGuard aluminium frames are made of T6 extruded
                                                                                   aluminium with 316 marine grade stainless steel mesh that
                                                                                   provides strength, protection and quality. ScreenGuard’s
                                                                                   patented security screen system, meets and exceeds
                                                                                   Australian standard AS5039-2003.

                                                                                   Key Features & BENEFITS                               10 YEAR
                                                                                                                                        WARRANTY

                                                                                         Australian designed & engineered
                                                                                         Easy to fabricate & install
                                                                                         Now available with Nylon Corner Stakes
                                                                                         Meets and exceeds AS5039-2003
                                                                                         High quality 316 marine grade stainless steel mesh
                                                                                         Bushfire rated
                                                                                         Corrosion Resistant
     SYDNEY HEAD OFFICE . T: (02) 8887 2888 . E: sales@darleyaluminium.com.au
                                                                                   To request a catalogue or find out more go to
     MELBOURNE . T: (03) 9238 3888 . E: salesvic@darleyaluminium.com.au            www.screenguard.com.au
     BRISBANE . T: (07) 3287 1888 . E: salesqld@darleyaluminium.com.au
     PERTH . T: (08) 9437 2999 . E: saleswa@darleyaluminium.com.au

  BuildViewMag_Screenguard HP Advert_180x128-5mm_6Jul20.indd 1                                                                             6/7/20 1:47 pm
BUILTVIEW         ISSUE 05 SPRING 2020
SCREENS                                                                                                                               55

                                                                                             MEMBERSHIP

ASSOCIATION MEMBERSHIP
GIVES YOU THE ADVANTAGE

T
     he National Security Screen             RESOURCES                                    STAND OUT
     Association (NSSA) is the peak
                                             • Due to the complexity of technical         • NSSA manufacturing members
     national industry association
                                               information, industry regulations in         are audited to ensure products
representing security screen
                                               relation to compliance, Australian           are manufactured to correct
manufacturers, installers and their
                                               Standards, state licensing and               specifications. Promote your AS 5039
suppliers. We aim to provide services
                                               certification requirements, the NSSA         compliance certification to your
to our members that improve their
                                               provides members with regularly              customers.
businesses and help them deliver and
                                               updated:                                   • Add value to your sales proposition
promote quality products to their
customers.                                      • Technical resources.                      by promoting your membership, your
                                                                                            products as Australian Standards
                                                • Key messages.
GREAT REASONS TO BE A                                                                       compliant and your staff as trained
                                                • Industry announcements.                   and licenced.
MEMBER OF THE NSSA                              • Video interviews and panel
                                                  discussions.                            JOIN US
GAIN KNOWLEDGE
                                                • Information guides.
• Keep abreast of industry news,                                                          Be part of a member focused
  changes and opportunities via NSSA            • Online community forums.                Association that is up-to-date and
  social media platforms, newsletters,       • Direct access to the NSSA Technical        relevant to our industry, and help
  state forums and conferences.                Committee.                                 grow our message on compliance with
                                                                                          Australian Standards: AS 5039, AS 5040
• Improve your staff’s understanding of
                                                                                          and AS 5041.
  our industry and upskill them through
  professional industry specific training.
• Network, share information and learn
  tips from industry leaders, suppliers         STEPHEN CHALMERS,                            ANDREW EARLES,
  and other members at NSSA                     CSI: Chalmers Security                       Stan Bond SA, South Australia
  networking events and the NSSA                Installations, Queensland
  Facebook Community Group.                                                                  “The NSSA has given us an
• Read ‘Screens’ in BuiltView Magazine,         “We have been a member of the                opportunity to ensure that what
  packed with relevant information,             NSSA for a few years now. My view            we are offering the customer is
  case studies, business profiles, and          is that it is essential for any serious      truly a well manufactured, quality
  product and industry news.                    business in our industry to be a             product and installation. At times
                                                member. It is always something               people can be worried about
SAVE TIME & MONEY                                                                            sharing ‘secrets’ with potential
                                                I bring up with my customers
• Utilise the NSSA website and                  when running them through our                competitors but in a group like
  resources to help get your business           products. The simple fact is, if             the NSSA, the old adage of ‘a
  looking and operating as a                    the company is not a member, do              rising tide lifts all boats’ is true.
  professional security screen retailer,        you know what you’re getting? All            In these tougher economic times,
  with member only marketing tools              our products are marked with a               with the potential for large players
  and information to help promote your          NSSA AS 5039 compliance label                such as Amazon to influence our
  business.                                     which gives clients reassurance              market, it is critical to be part of a
                                                that the screens are of the                  group committed to ensure great
• Follow NSSA Social Media –
                                                highest quality and audited so the           outcomes for
  Facebook, LinkedIn and Instagram,
                                                installation                                 customers.”
  and share our posts with your
  customers and peers.                          will be done
                                                correctly.”
• Quick access to a variety of
  compliance tools.
                                                                                          2019 National Design
                                                                                          Award Winner:
                                             2019 National Design                         Best Installation –
                                             Award Winner:                                Commercial
                                             Best Installation –
                                             Residential

                                             For more information, contact info@nssa.org.au, call 02 9160 4737 or visit
                                             www.nssa.org.au

                                                                                                    ISSUE 05 SPRING 2020    BUILTVIEW
Say
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    nono
       more
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      Starline
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                 Security
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                                           NEWNEW
                                                Wholesale
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                                                          Ordering
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                                                                   Portal.
                                                                     Portal.

                 Portal
                  PortalBenefits
                         Benefits
                  - Reduce
                     - Reduce
                            Errors
                              Errors
          - 100%
             - 100%
                  online
                    online
                         ordering
                           ordering
        - PC
           - PC
              and
                and
                  mobile
                    mobile
                         friendly
                            friendly
           - Product
              - Product
                     configurator
                        configurator
         - Instant
            - Instant
                   price
                      price
                          with
                            with
                               GST
                                 GST
       - Quote
          - Quote
               done
                  done
                     in in
                        minutes
                           minutes
  - Estimates,
     - Estimates,
               Quotes
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                       & Orders
                         & Orders
            - Full
               - Full
                   accessories
                      accessories
                                listlist
 - Direct
    - Direct
          email
             email
                quote/estimate
                   quote/estimate

   Save
     Save
        Time,
           Time,
              Save
                 Save
                   Money,
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                          Save
                             Save
                               Yourself!
                                  Yourself!

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             dealers
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                                                Starline
                                                      Security
                                                         Security
                                                               today.
                                                                  today.

               https://portal.starlinesecurity.net.au/
                 https://portal.starlinesecurity.net.au/

                                          “qualityservicevalue”
                                            “qualityservicevalue”

                                  Proud
                                     Proud
                                        Member
                                           Member
                                               of of

   www.starlinesecurity.net.au
     www.starlinesecurity.net.au0707
                                  3272
                                     3272
                                       2974
                                          2974contact@starlinesecurity.com.au
                                                contact@starlinesecurity.com.au
SCREENS                                                                                                                                 57

UNIQUE JOB                                                                                       DIRECTORY
PLATINUM GLASS                                                                 NSSA WELCOMES
& SECURITY                                                                     Advanced Glazing
                                                                               & Security
                                                                                                                  Gympie, QLD

                                                                               Century Doors                      Aspley, QLD

                                                                               Classic Security                   Mandurah, WA

                                                                               Contour Security                   Caboolture, QLD
                                                                               Screens & Patio
                                                                               Enclosures

                                                                               Cotton's Glass                     Maryland, NSW
                                                                               & Aluminium
                                               IMAGE RIGHT Robbie Hawkswell.
                                               Photo supplied.                 EHI Australia                      Baulkham Hills,
                                                                                                                  NSW

                                                                               Gav's Glass                        Fernvale, QLD

                                                                               Kestrel Screens                    Pakenham, VIC

                                                                               Kinny Screens & Doors              Camden, NSW

                                                                               M&M Security Doors                 Swan Reach, VIC

                                                                               SP Shutters, Doors                 Coburg North, VIC
A   fter contacting numerous security screen businesses and being told
    it could not be done, Robbie’s client eventually found him through
recommendations and asked if he’d simply take a look and give an
                                                                               & Blinds                           & Northcote, NSW

                                                                               Stay Safe Security Doors Cowes, VIC
opinion.
By working with a fellow business, Robbie was able to custom fit a             Viking Security Screens            Ormeau Hills, QLD
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                                                                               NSSA CALENDAR
everything they say,” Robbie adds.
                                                                               29 October               Annual General Meeting

                                                                               PLEASE NOTE: Calendar dates are correct at time of printing.
For more information on Platinum Glass & Security, call
                                                                               Visit nssa.org.au for the latest updates and information.
0419 0236 487 or visit platinumgs.com.au
MEMBER		           Robbie Hawkswell
LOCATION           Toowoomba, Queensland                                       NSSA SOCIALS
FABRICATOR         Platinum Glass & Security
SYSTEM			          Prowler Proof® ForceField                                             National Security Screen Association
PRODUCT		          Prowler Proof® ForceField
                                                                                         #nationalsecurityscreenassociation

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at claudene@nssa.org.au                                                           SECURITY THAT PERFORMS

                                                                                                 ISSUE 05 SPRING 2020           BUILTVIEW
58                                                                                                                                                            SCREENS

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BUILTVIEW         ISSUE 05 SPRING 2020
Columns                                                                                                       59

            COLUMNS
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                                                                                                                            60
IMAGE

                             ECONOMY    COVID‑19 & Summer Bushfires – The Economic Impact            Terry Rawnsley,              60
                                        & Pathways to Recovery Two unprecedented crises have         SGS Economics &
                                        battered Australia over the past six months: catastrophic    Planning
                                        bushfires and the COVID‑19 pandemic. The subsequent
                                        economic decline across Australia is both considerable and
                                        varied. History tells us that economies can bounce back
                                        quickly after a severe downturn, so a quick recovery is
                                        possible but uncertain. Recovery could take many forms.
                                        The RBA’s Big Guns – We’ve Seen It Before, Just Not          Thomas Devitt,               63
                                        Here The RBA has dropped the cash rate and unleashed         Housing Industry
                                        quantitative easing as part of a broad COVID-19 response     Association
                                        package to stabilise the financial market and reduce
                                        borrowing costs for households and businesses – a move
                                        supported by international experience.

                             BUSINESS   Managing Performance & Behaviour Remotely Navigating         Gaby Zipor,                  64
                                        the challenges of working from home for employers.           AB Phillips

                             LEGAL      Minimum Wage Increase Alert for Employers The Fair           Harry McDonald,              65
                                        Work Commission has announced an increase to the             Greenhalgh
                                        national minimum wage following its 2020 Annual Wage         Pickard Solicitors &
                                        Review, which, due to the COVID crisis, will be applied to   Accountants
                                        Modern Awards in three stages.

                             PEOPLE     Resilience – Will We Bounce Back? Sometimes you need         David Esler,                 66
                                        sheer determination to be successful.                        Kaizen Executive

                                                                                                     ISSUE 05 SPRING 2020   BUILTVIEW
60             ECONOMY                                                                                                                                                                    Columns

COVID‑19 &
SUMMER BUSHFIRES
THE ECONOMIC IMPACT & PATHWAYS TO RECOVERY
Two unprecedented crises have battered Australia over the past six months:
catastrophic bushfires and the COVID‑19 pandemic. The subsequent economic
decline across Australia is both considerable and varied. History tells us that
economies can bounce back quickly after a severe downturn, so a quick
recovery is possible but uncertain. Recovery could take many forms.

                                            1990‑91, there have been many
TERRY RAWNSLEY                              regional recessions during this time                                                             “The purpose of this
National Leader for Economic & Social       due to the very different economic                                                               analysis is to understand
Analysis, Principal & Partner,              structures across the country. A                                                                 the size of the shock to local
SGS Economics & Planning                    patchwork economy has evolved from                                                               economies in 2019‑20 and
                                            different population growth rates, the                                                           then to understand what
                                            rise of knowledge-intensive services,                                                            the recovery scenario might

T
      he COVID‑19 pandemic represents       differentials in government policy and                                                           look like. Looking back
      the most significant challenge        investment, the resources construction
                                                                                                                                             at past recessions helps
      to Australia’s economy since the      boom and bust, and the declining
                                                                                                                                             to contextualise current
Second World War. The social distancing     competitiveness of manufacturing
restrictions that have shut down
                                                                                                                                             economic challenges better.”
                                            among other changes2.
large parts of the Australian economy
are unprecedented. The economic             GDP IS NOT DECLINING                                                                                                     Terry Rawnsley
uncertainty surrounding the COVID‑19        EVERYWHERE
shutdown, compounded by summer              Some regions with significant mining
bushfires that wreaked destruction
                                            and agriculture industries, less impacted
across many local communities, means
                                            by social distancing restrictions, have
that Australia’s Gross Domestic Product
(GDP) will contract significantly in
2019‑20 – the biggest contraction since
the Great Depression.                       Figure 1                                      Australian Recession Events - Ordered by Size
                                                                                          SOURCE: SGS Economics & Planning and ABS Australian System of National Accounts
GDP MOVEMENT VARIED ACROSS
REGIONS                                                                              Start of                                                   Early    Wool   Spanish   Gold Standard    Early
                                                                                                   Great Depression          End of WW2
                                                                                      WW1                                                       1980s    Bust     Flu     Export Shock     1990s
Australia’s GDP is expected to decline
                                                                                     1914-15    1929-30 1928-29 1930-31 1946-47 1945-46 1944-45 1982-83 1952-53 1919-20 1924-25 1926-27 1990-91
by 6.7 per cent in 2019‑20. This estimate                                     0%
is based on information available (as of
May 2020) on the COVID‑19 restrictions
and the likely flow-on effect on the                                          -2%
                                            Change in GPD (Volume Measures)

economy1. This estimated decline
accounts for the various stimulus
measures announced by all levels of                                           14%

government (as of 24 April 2020).
Without these stimulus measures,
                                                                              -6%
Australia’s 2019‑20 GDP would likely
decline by over 14 per cent.
AUSTRALIA’S PATCHWORK                                                         -8%

ECONOMY
There are wide variations in GDP                                              -10%
movement across the country. While
the Australian economy has not
had an annual decline in GDP since                                            -12%

BUILTVIEW      ISSUE 05 SPRING 2020
Columns                                                                                                                   ECONOMY                         61

experienced some levels of GDP growth.        Figure 2    GPD Recovery in Three Years Following Recession Events
Many local government areas (LGAs)                        SOURCE: SGS Economics & Planning and ABS Australian System of National Accounts
have experienced a 2.5 and 7.5 per cent
decline. LGAs that rely on tourism are          9%

likely to experience between 11 and
15 per cent decline in GDP, as a result         8%

of travel restrictions. LGAs heavily
                                                7%
impacted by the summer bushfires could
see up to 20 per cent decline in annual
                                                6%
GDP.

A QUICK RECOVERY IS POSSIBLE                    5%

BUT UNCERTAIN
                                                4%
Over the last century, there have been
eight events when annual GDP has                3%

declined in Australia (Figure 1). The only
two events which come close to the              2%

likely impact of COVID‑19 are the First
World War and the Great Depression. In          1%

1914-15, GDP fell by 11 per cent due to the
onset of the war. This dramatic fall was        0%
                                                      Start of WW1     Great      End of WW2   Early 1980s    Wool Bust    Spanish Flu      Early 1990s
brought about by the halt in global trade                            Depression
(similar to COVID‑19) which significantly
disrupted day-to-day economic activity
as workers left their jobs and enlisted
into the war effort (much like the impact     Figure 3    GDP Impact on Local Government Areas (LGAs)
                                                          SOURCE: SGS Economics & Planning and ABS Australian System Of National Accounts
of social distancing).
The Great Depression had three
                                                                                                        DECLINE IN               GPD 2019‑20
consecutive years of GDP decline. In
1928-29 GDP declined by 6.2 per cent,
                                              BUSHFIRE AFFECTED LGAS                                    2019‑20 GDP              ($ MILLION)
1929-30 by 9.7 per cent decline and in        East Gippsland (S), Victoria                                   -22.6%                      $1,466
1930-31 GDP declined by 2.1 per cent.
In total, the GDP declined by 17.1 per        Kangaroo Island (DC), South Australia                          -17.0%                       $234
cent over the three years. This is the
                                              Wingecarribee (A), New South Wales                             -12.8%                      $2,226
scenario that current policy makers are
taking active steps to avoid. Following
                                              TOURISM-FOCUSED LGAS
every major recession event, there has
been strong annual GDP growth in the          Augusta-Margaret River (S), Western                            -15.1%                       $752
following three years. Figure 2 shows the     Australia
average is just over 6 per cent.
                                              Douglas (S), Queensland                                        -12.9%                       $691
While a 6.7 per cent decline in 2019‑20
GDP compared to the previous year             Byron (A), New South Wales                                     -11.8%                       $1,524
appears most likely, the impact could
be as high as 10 per cent. Much of this       LOCATIONS OF MAJOR AIRPORTS
variation is due to the second-round
                                              Hume (C), Victoria                                             -15.1%                      $11,801
effects of social distancing restrictions
which could impact the construction,          Belmont (C), Western Australia                                 -12.2%                      $5,892
manufacturing and professional services
sectors. A critical question right now is:    Botany Bay (C), New South Wales                                -10.9%                      $8,910
How will the economy respond to a 6.7
per cent decline in GDP during 2019‑20?       MAJOR CBDS

FIVE POSSIBLE RECOVERY                        Melbourne (C), Victoria                                        -11.0%                      $100,197
SCENARIOS                                     Sydney (C), New South Wales                                    -10.3%                      $127,328
The purpose of the analysis is to             Perth (C), Western Australia                                   -9.0%                       $20,901
understand the impact the COVID‑19
social restrictions and the summer
bushfires have had on local economies         The recovery from these declines in                  4. Very deep recession – there is a large
and the path recovery may take.               GDP are discussed in the context of five                shock to GDP and a slower bounce
The COVID‑19 pandemic and the                 possible recovery scenarios:                            back.
summer bushfires have had differing           1. V-shaped recovery – the economy will              5. Very deep recession with slower
impacts across Australia. The tables in                                                               recovery – it could take three to four
                                                 bounce back to where it was before
Figure 3 show the forecasted decline in                                                               years before the economy recovers to
                                                 the COVID‑19 shock and quickly
GDP during the 2019‑20 financial year                                                                 the 2018-19 level.
                                                 return to normal growth.
for three LGAs in four types of locations:
                                              2. Deeper recession – there is a larger              BUSHFIRE AFFECTED REGIONS
• Bushfire affected LGAs
                                                 shock to GDP and a lower bounce
                                                                                                   Due to the summer bushfires and
• Tourism focused LGAs                           back.                                             COVID‑19 pandemic, East Gippsland
• Major airport locations                     3. Longer recession – it takes longer for            is likely to see a decline in annual
• Major CBDs                                     the economy to recover.                           GDP of over 22 per cent – three times

                                                                                                              ISSUE 05 SPRING 2020            BUILTVIEW
62              ECONOMY                                                                                                                         Columns

  “What we see from previous
  recessions is that a sharp
  recovery is possible, but there
  is massive uncertainty about
  what might happen over the
  next few years. Put simply, a
  fast recovery is possible but
  uncertain.”

                      Terry Rawnsley

Figure 4    Australian LGA GDP
            Forecasts for 2019‑20
            SOURCE: SGS Economics & Planning       CHANGE IN GPD (% RANGE)
            and ABS Australian System of
Columns                                                                                                       ECONOMY               63

THE RBA’S BIG GUNS
WE’VE SEEN IT BEFORE, JUST NOT HERE
The RBA has dropped the cash rate and unleashed quantitative easing as part
of a broad COVID-19 response package to stabilise the financial market and
reduce borrowing costs for households and businesses – a move supported by
international experience.

                                             aimed at lowering funding costs for            debate for decades to come.
THOMAS DEVITT                                the financial sector and supporting its        There were certainly fears in the US
Economist,                                   continuing smooth operation. It also           during its post-GFC monetary policy
Housing Industry Association                 aims to ensure low borrowing costs and         experiment that an extended period of
                                             ample credit available for all households,     quantitative easing and rock bottom
                                             businesses and governments in need.            interest rates would cause such

T
     he COVID-19 outbreak has forced                                                        problems down the line. An open letter
                                             WILL IT WORK?
     the Reserve Bank of Australia                                                          to the Federal Reserve in 2010, signed
     (RBA) to take steps that are            Australia is in the fortunate position         by 24 prominent experts, warned these
unprecedented for Australia, but not for     of having seen other countries use             actions would debase the US dollar and
other countries.                             such measures – with some success.             trigger uncontrolled inflation – it didn’t.
                                             International evidence from the United
The RBA dropped their normal cash                                                           In fact, since the GFC, the problem has
                                             States of America (US), the European           been insufficient inflation. This will most
rate to the effective lower bound of 0.25
                                             Union (EU), and the United Kingdom             likely be one of Australia’s economic
per cent, and they have started buying
                                             (UK) supports quantitative easing and          challenges over the medium term.
government debt with the intention of
                                             forward guidance as effective ways to
driving the interest rate of Australian                                                     At this point in this cycle, and given all
                                             stabilise financial markets and suppress
government bonds to 0.25 per cent too.                                                      the historical evidence, the RBA’s current
                                             borrowing costs across economies that
This is a process colloquially referred to                                                  course of action is rightly focused on the
                                             are facing crisis situations.
as ‘quantitative easing’.                                                                   risk of a deflationary spiral.
                                             The RBA’s embrace of these
The RBA is also providing ‘forward                                                          The risk that the RBA will overstimulate
                                             unconventional tools should therefore
guidance’ – a public promise that it will                                                   inflation is very low. A small overshoot
                                             have a similar impact.
not start increasing interest rates again                                                   in inflation could even be a welcome
until progress is made towards its full      WHAT ABOUT INFLATION?                          reprieve from recent performance.
employment and inflation goals.
                                             In the longer term, there is a risk that the   The opposite risk – that insufficient
Additional measures have also been           mis-calibration of these tools may once        policy support will send us into a decade
taken to facilitate lending to businesses    again unleash the ‘inflationary’ dragon.       of deflation, depression, and human
and offset some of the squeeze on bank       It was the cruel combination of high           hardship – is clear and present.
margins. More recently, the RBA has also     inflation and weak economic growth             The RBA is doing its utmost to carry
started buying up the debt of state and      in the 1970s and 80s that not only             Australia across the ‘bridge’ and set the
territory governments, as well as a wider
                                             preceded a series of deep recessions           scene for a swift and full recovery – and
range of corporate debt.
                                             around the world to correct it, but            the balance of risks supports how the
This broad package of measures is            fear of which would also inform policy         RBA has chosen to do so.

  T   he US was the epicentre of the sub-prime housing market crash that
      brought on the GFC. In the panic of 2008, the rates on 10-year inflation-
   adjusted government bonds in the US had jumped to 3.11 per cent by
                                                                                              T    he UK also employed
                                                                                                   quantitative easing. By March
                                                                                               2009, the Bank of England had
   November, up from just 0.9 per cent only nine months earlier. In an effort to               dropped interest rates from almost
   keep borrowing costs down across the economy, the Federal Reserve had                       6 per cent to 0.5 per cent between
   dropped interest rates to effectively zero and announced its first phase of                 2009 and 2016, and had expanded
   quantitative easing. By the end of 2012 bond rates had fallen to -0.87 per                  their balance sheet from around
   cent. Just the announcement of quantitative easing alone is believed to have                £100 billion to almost £600 billion.
   reduced long term US rates by up to 200 basis points.                                       This saw 10-year bond rates fall
                                                                                               from over 5 per cent down to
   The second phase of quantitative easing is estimated to have reduced long
                                                                                               between 1.5-3 per cent during that
   term rates by a further 18 basis points. In mid-2013, the announcement of their
                                                                                               time. Since then rates have fallen
   eventual intention to tap the brakes on their quantitative easing measures
                                                                                               even lower. The announcement
   caused the ‘taper tantrum’ and bond rates jumped back above zero. Through
                                                                                               of quantitative easing alone is
   the bond market, quantitative easing appears to have had a clear impact on
                                                                                               estimated to have reduced interest
   borrowing rates across the US economy, remaining low even after the ‘taper
                                                                                               rates by up to 100 basis points.
   tantrum’ of 2013.

                                                                                                     ISSUE 05 SPRING 2020     BUILTVIEW
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