Let Property Grow the Economy

The Property Council of Australia has launched its campaign at this years’ Property Congress ‘Let property grow the economy.’

Property Council NT Director Ruth Palmer said that the property sector has a larger footprint on the Northern Territory economy than any other industry.

“The property industry directly contributed $3.9 billion to GSP in 2013/14 which is 17.9%. It has also estimated to have contributed a further $4.5 billion to the GSP through demand for goods and services.”

Residential property ownership is not the only way every day Australians participate in the property sector; more than 140,000 Northern Territory residents have a financial stake in the property industry through their super funds.

“The NT Government received $188.7 million in tax revenue from property related activities.”

“Many Territorians may not know that 1 in 5 people across the NT draw a wage directly and indirectly from property with industry supporting 42,2 full time positions directly and a further 19,739 through flow on activity. This equates to 41.3% total of employment.

“We have commissioned research from the AEC that breaks down the data for each Territory electorate of how the property industry supports local communities.

“Property touches the lives of all Australians, We create prosperity, jobs and strong communities. It is Australia’s biggest industry and the nation’s second largest employer.

“Australia needs a strong property industry now more than ever and that is why we have launched our campaign to Let property grow the economy.”

To find out more about our campaign, please visit www.propertycouncil.com.au

Media contact: Ruth Palmer | M 04 428 314 | E [email protected]