Debunking the myths about foreign investment

For the last two days, our industry has been speaking with political leaders as part of the annual Property Leaders’ Summit in Canberra.

The property industry is a vital part of Australian life.

Every day, we hand over the keys to 630 new homes and keep 1.1 million Australians in jobs.

Every week, the industry pays $950 million in property taxes.

And every year, the industry generates one ninth of Australia’s GDP.

An essential part of what the property industry does for Australia is generated by foreign investment.

Yesterday, as part of the Property Leaders’ Summit, we released a new ACIL Allen report into foreign investment in real estate.

The report debunks the myths around foreign investment and shows how foreign investment underpins growth, keeps people in jobs and contributes to our national income.

Too many political leaders are now frightened to defend what is an essential part of Australia’s economic DNA and this is dangerous.

Courage, purpose and a willingness to engage are vital ingredients in successful leadership – not just in politics but in business as well.

Last night, two leaders were inducted into the Australian Property Hall of Fame: Stuart Hornery AO and Lang Walker AO. You can read more about their tremendous contribution to our industry in this issue.

While in Canberra, over 50 members and senators participated in our events and engaged in discussions with Summit participants. This video is a taste of the message we relayed to Canberra.