Let property grow the economy

The Property Council of Australia is about to embark on a public campaign to tell the industry’s story and make the case for letting property grow the economy.

Property touches the lives of all Australians, yet many people are unaware of the vital contribution the industry makes to jobs, retirement savings and to the strength of the Australian economy.

Our economy is in transition and the industry’s contribution is more important than ever before.

The nation needs new jobs, new homes and workplaces, and a stable, sustainable foundation driving economic activity.

Chief executive Ken Morrison said the launch of a new advertising campaign, the first of its kind for the Property Council, will shine a light on the benefits the industry delivers and support a reform path centred on economic growth.

“Property touches the lives of all Australians, yet many people aren’t aware of the importance of the industry to the economy,” Mr Morrison said.

“New research reveals property is now Australia’s single biggest industry, with a contribution to GDP which far outstrips any other.

“The industry creates 1.1 million jobs, more than mining and manufacturing combined, making us the nation’s second largest employer.

“The Let property grow the economy campaign targets these perception gaps and argues the industry can do even more with the right policy frameworks.

“We want to work with governments to make the economy more prosperous, the tax system fairer, our cities more productive, buildings more sustainable and housing more affordable.

“The property industry is a big part of the solution to these challenges.

“Clearing away obstacles to growth would put property on a stable, sustainable path which will benefit Australians now and into the future.”

Morrison says the campaign will raise community awareness of the property industry’s important role strengthening both their local communities and the nation’s economy.

“Our message to policymakers is simple, let property grow the economy.”

The campaign will officially launch at this year’s Property Congress on 19 October, with some initial advertisements appearing from this week.

The Property Council encourages members to get involved in sharing the powerful story of our industry.  Stay tuned for full details next week.