The Property Council of Australia has thanked outgoing Prime Minister Malcolm Turnbull for his service to the nation and congratulated Scott Morrison on his election to the leadership of the Liberal Party and as the incoming Prime Minister.

“This has been a remarkable week in federal politics,” said the Property Council’s Chief Executive, Ken Morrison.

“Mr Turnbull rejuvenated the Government’s focus on infrastructure and cities, made important inroads on housing affordability and oversaw a resurgence in employment growth.

“On behalf of the property industry, we thank Malcolm Turnbull for his leadership and substantial contribution to public life over many years, and we wish him well for the future.”

Mr Morrison congratulated incoming Prime Minister Scott Morrison, and his new Deputy Leader, Josh Frydenberg.

“As Treasurer, Mr Morrison has overseen a growing economy which has delivered record jobs growth, an expanding infrastructure program and tax relief for individuals and businesses.

“He understands the importance of good economic management in incentivising investment and confidence among consumers and business.

“We look forward to working with him and his Cabinet on policies that support the 1.4 million Australians who work in the property industry and for the millions more who rely on it for their economic security, including through their superannuation.

“Australia is one of the most urbanised countries in the world and our economic future will largely be based on the success of our cities, both large and small.

“The Coalition Government has made important investments in nation-building infrastructure and city-shaping policies, and we hope these initiatives are carried forward by the new Prime Minister.

“Australia’s major cities are experiencing strong growth, from natural increase and immigration, so ensuring they grow well and their residents can prosper and enjoy a great quality of life requires good planning and smart investment.

“We look forward to working with the Morrison Government to create great Australian cities that underpin jobs and our economy.”

Media contact:  Matt Francis | M 0467 777 220 | E [email protected]