There are some encouraging signs that Australia’s public health response to the COVID-19 outbreak is ‘flattening the curve’ and halting the spread of the virus.
Our governments are quick to caution that it is still early days, although they are starting to look at enabling a careful re-opening of some parts of the economy over coming weeks. This is likely to be quite different around the country depending on the local transmission rates.
While many of us are still grappling with the day-to-day challenges in our businesses caused by the COVID-19 pandemic, we are also looking ahead to what can be done to ensure the property industry is a driver of the economic recovery.
This will be a huge task. Governments will need to grapple with the consequences of debt-burdened budgets for many years to come while our businesses will be operating in a quite different Australian economy to the one before the coronavirus (incredibly, only a matter of weeks ago.)
We won’t be starting from scratch. Thanks to the proactive, collaborative and innovative approach of our construction industry workforce, projects have continued on building sites around the country.
As our industry leaders have shown through our recent online events, the property industry has shown great resolve and adaptability in managing the impacts of COVID-19. Still, industry confidence has taken a battering as reflected in the latest ANZ Property Council survey.
That’s why we are already working closely across all levels of government to get the right policy settings in place so our industry can help kick-start and drive the post-pandemic economy.