To borrow from a football analogy, 2021 was a year played very much in two halves.
After largely winning a battle of attrition against COVID-19 (albeit by using very blunt instruments), the arrival of the Delta variant flung half the population into a long lockdown. Despite the emergence of Omicron, there are great reasons for optimism as we head towards the holidays.
Whatever the pandemic brings in the future, Australia will face this with the massive advantage of vaccination rates which are world leading.
This national achievement has underpinned the country’s ability not just to reopen and reconnect, but to do so with confidence.
It’s this confidence that is underpinning a positive approach to the future from members I speak with, notwithstanding the inevitable bumps on the road that will come.
This storyline is also reflected in official figures. The 1.9 per cent drop in GDP in the September quarter was less than many expected given the Delta lockdowns. And next week’s ANZ/Property Council industry sentiment survey will deliver more good news.
Our industry’s capacity to ride out the rough conditions of the last two years should be the source of great optimism as we head for calmer waters.
With a federal election looming, 2022 promises to be a watershed year for Australia’s economy and Australia’s policymaking.
The battlelines are being drawn by the major parties, with policies on emissions reductions likely to be front and centre. Last week Labor unveiled its new climate policy, promising to accelerate our progress towards net zero with a framework that has been largely welcomed.
As the volume of the national debate increases over the coming months, the Property Council will champion the policies that will enable our industry to lead Australia’s economic recovery.
This is the last edition of Property Australia and on behalf of the Property Council team, I would like to thank all our members for their tremendous support throughout this eventful year. After a trying 12 months, we hope you have a safe and enjoyable break.
We look forward to reconnecting with you in 2022.