Growth focus missing in WA politics says Property Council

The Property Council has called on all the parties contesting the upcoming state election to focus more on policies that will keep WA growing after the mining boom.

New WA Executive Director of the Property Council Lino Iacomella said it is very concerning that we are getting close to the state election and none of the main parties are focused on the big issues preventing the property sector growing the WA economy.

“The Property sector is the state’s largest employer creating more than $11.7 billion in wages. The industry also directly accounts for 12% of WA’s economic activity contributing $31.8 Billion in GSP.

“Property created 205,000 direct jobs for WA, last year, generating more than $6.4 billion in state taxes, that’s more than one-third of all state taxes.

“The three top issues holding back WA’s property industry are: unfair land taxes; too many local planning restrictions; and transport infrastructure confusion.

“The Government over-reached with the third round of land tax increases last year and it needs to unwind some of these increases.

“The failure of local government reform in WA has exposed the property industry to greater NIMBY backlash to the higher density development, which is required to sustainably accommodate Perth’s rapid population growth. 

“In the absence of local government reform, then all local governments must be required to implement consistent local planning strategies, otherwise they risk losing their planning controls.

“The lack of a transport plan for Perth, that includes new public transport where it is needed most and key road connections, has made planning for new development a riskier proposition than in other states.

“Time is running out before the next state election for the major parties to focus their attention on the real issues facing the property sector.

“If these issues are not addressed soon WA will fall hostage to the typical boom-bust cycle in real estate that can take years to recover from,” Lino Iacomella said.

Media contact:  Lino Iacomella | M 0417 501 974   |   E liacomella@propertycouncil.com.au