Industry and political leaders gather
Economic challenges and inspiring innovations, policy and politics were under the microscope this week as 200 property leaders gathered in Canberra for the annual Property Leaders Summit.
At a time characterised by slowing global growth, a looming threat of deflation and volatile consumer sentiment, the industry’s best and brightest came together to gather intelligence, reflect on trends, collaborate on shared challenges and forge strong relationships.
Property Council chief executive Ken Morrison says the annual Summit serves as an opportunity for industry leaders to explore the connections between financial and intellectual capital.
“The Summit connects the industry with capital, investment and ideas. Each year, industry leaders are reminded that innovation is accelerating at lightning speed,” Morrison says.
This year, presentations from international fund managers and Chinese investors were highlights, as was a fresh take on Australia’s superannuation industry, which currently has a pool of $1.5 trillion available for investment.
A number of political leaders were on hand to share their perspectives. A closed-door discussion with Federal Minister for Major Projects, Paul Fletcher, and Shadow Minister for Transport, Infrastructure and Cities, Anthony Albanese, enabled a free-flowing conversation; later, Treasurer Scott Morrison joined the Summit.
Professor Ian Harper, a partner with Deloitte Access Economics, drew on his research for the Property Council to highlight the link between competition, productivity and living standards. Pointing to the latest in Deloitte’s Building the Lucky Country series, which argues the importance of ‘place’ in creating productive communities, Harper repeated his public advocacy for policies that encourage competition.
The summit was preceded by the Market Insights Forum, an exclusive opportunity for international and potential investors to provide expert insights into Australian markets and emerging trends.
“The property and construction industry depends on foreign investment to build our infrastructure, shopping centres, hotels and major residential developments. Foreign investment is an investment in jobs – and an investment in Australia,” Morrison concludes.