From retail to retirement living and everything in between: Outlook 2019 can’t be missed
WA’s unique position in the national and global economy is set to influence the property industry in 2019. Amid signs of a recovery in commercial and industrial property, other sectors such as residential are less positive. Investors will be wondering, is it time to branch out or hunker down?
Property Council WA’s Outlook Lunch 2019, on 15 February, will provide expert insights from a cross-sector panel of top industry players, moderated by analyst and commentator Gavin Hegney.
Gavin told us he has high expectations of this panel and will challenge the speakers to give ticket holders more than they would expect to read in the newspaper.
“We are a recovering economy while the rest of the country could be on the edge of a recession,” he said. “How is that going to play out for WA? Are we about to see our time in the sun? All the positives could be amplified by what is happening in the rest of Australia.”
At the Federal level, a potential change in government, with anticipated policy changes, could have an impact on property investment or yields. Gavin will ask the panel to discuss how these influencing factors might play out in our State.
The two-hour session at Perth Convention and Exhibition Centre, sponsored by LandCorp and Wood & Grieve Engineering, features panellists from across the industrial, retail, residential, commercial and aged care property sectors.
Scentre Group Development Executive, Damon Dimitrijevic, will highlight the positives for retail with the recent completion of the group’s Westfield Carousel and a major redevelopment of Westfield Innaloo (to be called Westfield Stirling) starting this year.
“We have shown with the recent redevelopments of Westfield Whitford City and Westfield Carousel that we are big believers in the Perth market and we will continue to invest with the $7 million redevelopment of Westfield Stirling.”
In the retirement living sector, Amana Living CEO Stephanie Buckland expects continued growth as the industry prepares for changing demographics, which will see the number of people over the age of 80 increase about 30 per cent by 2026.
“This will have numerous implications for the property sector,” she said. “It will influence the types of properties that will come on to the market for urban infill and redevelopment and it will influence the types of dwellings that will be built.”
As the Royal Commission into Aged Care gets underway this year, there is also expected to be future implications for how aged care services, including residential care and retirement living, will be delivered and funded.
Other panellists will be Hero Properties Executive Director Julie Drago, Knight Frank Associate Director Sallese Wilmot-Barr and Mirvac General Manager for Residential Paige Walker.
For more information or to register for this must attend event please visit our website.