Three different perspectives on IR15

On June 10th the Property Council’s Future Directions Committee held a successful event -‘Our Role in Australia’s Future -What the Intergenerational Report means for tomorrow’s leaders in property’.

This sit-down breakfast provided an overview of the 2015 Intergenerational Report with a focus on the key drivers of economic growth; population, participation and productivity.

Wyatt Roy, MP – Federal Member for Longman began proceedings with an engaging presentation. Wyatt spoke of policy, superannuation investment, employment and interestingly, ‘technology interruption’ and its rising prominence around the globe. Wyatt provided insight after a recent trip to Silicone Valley in the United States, sharing overseas examples of significant capital investment into the innovation of ‘the power of technology’.

Katherine Tuck, Budget Policy Division- The Treasury summarised the importance of the Intergenerational Report, and the importance of the ‘Three P’s’ – population, participation and productivity. Of particular focus was the changing structure of the Australian population and components of real GDP growth. Katherine provided some thought-provoking statistics demonstrating the change in the ‘Three P’s’ over the past 40 years.

Finally, Tom Wilson, Principal – Advanced Demographic Modelling provided an analysis on Australia’s population and household future. Tom’s presentation demonstrated how high Australia’s growth rate is for a developed country, with future population ageing to be relatively modest. Tom also highlighted the biggest household change in 2015-55 will be lone and couple only householders.

The keynote presentations were followed by a Q and A session, moderated by Brian Haratsis – Executive Chairman of MacroPlan Dimasi. This stimulated some interesting questions from the audience who were keen to hear the experts’ view given the significance of the property sector in Australia’s economy.

The Property Council would like to thank our speakers and moderator for providing their insights and the Future Directions Committee for their work on this event. We would also like to thank our principal sponsor Savills Project Management and supporting sponsor KPMG SGA, without whose support the Future Directions Series would not be possible.

Article by Eloise Liddell, Project Manager – APP Corporation Pty Limited and member of the Future Directions Committee

Principal Sponsor:

Supporting Sponsor:

Katherine Tuck – The Treasury, Wyatt Roy MP – Federal Member for Longman & Tom Wilson – Advanced Demographic Modelling

Brian Haratsis – MacroPlan Dimasi

Wyatt Roy MP – Federal Member for Longman, Elliott Gooch – Savills Project Management, Liz Heiser – KPMG SGA, Brian Haratsis – MacroPlan Dimasi, Tom Wilson – Advanced Demographic Modelling, Katherine Tuck – The Treasury & Riye Arai-Coupe – Mirvac & Chair of the Property Council of Australia Queensland Future Directions Committee