Property Market Outlook
Yet another record crowd attended the Property Council’s annual Property Market Outlook, on Friday 17 February, to hear the unique insights of Bernard Salt – KPMG partner, author, demographer, columnist, satirist, and social commentator.
Nearly 800 attendees heard Bernard’s take on the latest cultural and market trends and what their significance will be for the Queensland property industry in 2017.
Bernard started with a look into the nation’s past, displaying the populations of Australia’s cities in 1954, 2015 and projected populations in 20. The Gold Coast, which has transformed from small coastal village in 1954 to an established major city in 2015, was used by Bernard to demonstrate the growth potential that the property industry can catalyse.
Bernard sees housing affordability remaining a hot button issue in 2017. By delineating the areas of reasonable affordability in Sydney, Melbourne and Brisbane, Bernard deduced that Brisbane will continue to draw interstate migrants – particularly as prices continue their ascent elsewhere.
Brisbane’s cultural shift over recent years, Bernard observed, has seen a convergence of lifestyle aspirations with the southern capitals while price remains significantly more affordable. While this remains, Bernard holds that the prospects for Brisbane remain good, “this year, next year and the years beyond.”
Of course, Bernard couldn’t resist addressing his 2016 smashed avocado controversy – outlining the global fallout from his innocuous satirical comment in the Weekend Australian Magazine.
On the serious side, Bernard used the event to call on the Prime Minister to establish a high-level taskforce to develop the policy prescription to tackle the housing affordability problem. Bernard promoted bipartisanship on the issue, arguing that the problem will continue until the nation is galvanised behind a suite of solutions.
Bernard was then joined on stage by Retire Australia CEO, Alison Quinn, Executive General Manager, Building Group at John Holland, Chris Evans, and Chief Investment Officer at Charter Hall, Sean McMahon. The panel further unpacked developing industry trends and fielded audience questions predominantly focused on housing affordability and its impacts in various markets.
The Property Council greatly appreciates the support of major sponsor Charter Hall and supporting sponsor Ray White.
Photos from the event can be viewed here.
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