Go for growth
Will Australians have to lower our ambitions and settle for below-trend levels of economic growth into the future as the Reserve Bank warned last week?
Low economic growth has a big impact on Australia's ability to create jobs, generate income and provide the tax revenue needed to fund essential government services.
It would also have big implications for the property industry, nowhere more so that in post-resources boom Western Australia.
Last week the Property Council launched Keep WA Growing to determine how best to support an economy in transition.
This report identifies the best projects to deliver economic growth and leave a long term legacy in the west. It finds that prioritising just three key infrastructure projects worth $4.5 billion could unlock $2.4 billion in new property investment, $27 billion in economic activity and 32,500 jobs.
The focus on economic growth will also be front and centre of next week’s National Reform Summit which the Property Council will be attending.
Watch this space.