In the News
Housing affordability: Property Council says cranking up supply will help home buyers
Mozo.com.au, 26 April 2017
With the Federal Budget announcement only two weeks away, the industry body has urged the government to leave negative gearing alone and instead fix the housing crisis with its “10 Point Plan”. Read here.
New laws to give Canberra village residents more say
Aged Care 101, 24 February 2017
Residents in the ACT’s 30-plus villages will now be able to approve any fee increases – and manage disputes more easily – thanks to the new Retirement Villages Amendment Act 2016. Designed to benefit both residents and operators, the changes follow a review into the current Act that included the Property Council, ACT Retirement Village Residents Association and COTA. Read here.
Australia's office tower vacancy still a concern but future supply low
Australian Financial Review, 2 February 2017
Debate has begun as to whether Australia needs more new office towers as vacancy in cities such as Perth have reached record highs, but expected new supply over the next three years will be just half that constructed in the past 18 months. The latest data on office tower space in Australia from the Property Council shows 10.9 per cent of the country's office space is empty with Adelaide, Perth, Brisbane and Darwin all at multi-year highs. [Pay wall] Read here.
Office market: Building slowdown to cut CBD office supply
The Australian, 2 February 2017
Australia’s CBDs will see a substantial fall in the amount of new office space, with development halving over the next three years, according to a Property Council of Australia report. [Pay wall] Read here.
National office vacancy inches ahead with new developments
Sydney Morning Herald, 2 February 2017
National office markets saw an average marginal lift in vacancy rates as new properties opened the doors, but the rate of growth is very small and predictions are that demand will again outstrip supply in the year ahead. Read here.
Are councils to blame for rising house prices?
2GB, 31 January 2017
Jane Fitzgerald, NSW Executive Director of the Property Council of Australia joins Chris Smith to discuss the very controversial role of councils on local development. Listen here.
Commercial property experts watching this space
Herald Sun, 31 January 2017
The outlook for commercial property this year is largely upbeat with most experts expecting a build-up of demand late last year to continue, despite some warning of potential headwinds dampening investment. Read here.
11 ways to make housing more affordable
Australian Financial Review, 27 January 2017
No one solution will solve the housing affordability problem. Experts favour utilising the tax system over tampering with supply. Ultimately every available policy will be needed to reign in soaring prices, or politicians will face an increasingly hostile electorate. Our reporters asked industry experts for their solutions to the growing crisis. [Pay wall] Read here.
Property Council: 3 priorities for a strong NSW
Real Estate Business, 25 January 2017
Property Council NSW executive director Jane Fitzgerald says addressing housing affordability by “turbo charging” supply must be a top priority. “We need at least 725,000 houses by 2036 and we won’t reach this figure unless we unlock more land and reform the planning system,” Ms Fitzgerald said. Read here.
New data shows banking regulator's attempts to cap property lending backfired: economists
ABC News Radio, 23 January 2017
The latest official data shows that in trend terms, housing finance for owner-occupiers flat-lined late last year, while loans to investors rose. Interview with Gladys Berejiklian, NSW Premier; Shane Oliver, AMP, chief economist; and Ken Morrison, Property Council of Australia, chief executive. Listen here.
Property Council: Environmental Planning & Assessment Act a good start but not quite enough
The Urban Developer, 9 January 2017
The proposed amendments to the EP&A Act will improve the NSW planning system so that better strategic planning objectives are achieved and more houses can be built,” Ms Fitzgerald said. However, Ms Fitzgerald said that it is a good start but not enough. “The NSW system needs radical surgery, not a nip and a tuck,” she said. Read here.
NSW and Sydney proposed planning changes provoke mixed reaction
Canberra Times, 9 January 2017
Jane Fitzgerald, the NSW executive director of the Property Council, said the changes looked "sensible and logical" but also represented a missed opportunity to implement more substantial reform. Ms Fitzgerald said the government should have tried to revive so-called code-assessable development, under which developers can more easily progress potentially large projects provided they are in line with previously agreed codes. Read here.