2019 Property Market Outlook
Over 0 guests attended the Property Council’s 2019 Property Market Outlook Lunch, which took place on Friday 8 February, at the Brisbane Convention and Exhibition Centre.
David Plank, Head of Australian Economics for ANZ Research, presented his insights on the current state of the economy, as related to the Australian property market. While sentiment remains subdued in the Sydney and Melbourne residential market, Queensland’s residential sector has remained less affected by the downturn. David predicted Brisbane residential prices will remain stable throughout 2019.
Following his presentation, David was joined by Matthew Strotton, Global Director, Capital for QIC GRE; Stephen Conry, CEO of JLL; Carolyn Viney, Executive General Manager Development for Vicinity Centres; and Andrew Borger, Head of Office Development Service for Charter Hall, for a panel conversation that further unpacked predictions for the year ahead.
Panellists spoke to the global factors set to shape the Australian property market, referencing uncertainty between American and Chinese relations, and the current state of Brexit in Europe.
Speaking at a national level, panellists explained the negative effect that the Royal Banking Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has had on the market. Panellists agreed the Commission has taken its toll on property approvals, and the national tightening of credit that has inevitably followed as a result of the Commission. Despite this, speakers seemed positive that the availability of finance has now passed its lowest point.
During the panel discussion, the guest speakers also spoke to the 2019 Federal election and the effect it would have on tax policies including: negative gearing, capital gains and franking credits.
Panellists also discussed the outlook across the other property asset classes, where commercial office was agreed to be a positive story across the country.
The Property Council would like to thank David, Matthew, Stephen, Carolyn and Andrew for offering their insights on these complex topics. Thank you also to our Sponsor, Charter Hall and Support Sponsor, Ray White.
The event was also used as an opportunity to raise funds to support the local community in Townsville, following the devastating floods. If you would like to donate, please visit Givit’s website.
Photos from the event are available here.