Getting down to business

Property Australia, 22 May 2019

The federal election has been run and won, and we congratulate Prime Minister Scott Morrison and his Coalition team on their return to government.

Now it’s time to get down to business and focus on delivering the policies that will provide certainty and confidence for the property industry and the Australian economy as a whole. It’s a challenging time with strengthening economic headwinds at home and internationally.

Before and during the campaign we have advocated on the issues that are important to our industry and the 1.4 million jobs it supports, ranging from the economy and finance, housing, cities and infrastructure, investment, energy and the environment. Our advocacy on these issues will continue across all sides of the new parliament.

There’s more to be done. We are continuing to engage with the government as its ministerial team and policy agenda takes shape.

Pleasingly, yesterday we also saw APRA announce a review of its mortgage lending standards, including the seven per cent interest rate test. This is a sensible move – changed market circumstances require changed settings – and this was an issue Property Council raised in roundtable discussions with APRA and the Reserve Bank earlier this month.