Australians are living through one of the most significant economic and social upheavals in our history.
Our economy has been massively disrupted and Australians are having to quickly adjust to new ways of living and working as governments urge us to keep our distance, stay at home and stop the spread.
There is a lot of uncertainty about the future. We don’t know how long the public health response will need to be in place. The Prime Minister has warned this is likely to be six months or more. We don’t know the full economic cost with the toll in job and business losses mounting hourly.
What we do know however is that the property industry is essential to sustaining the economy through this incredibly challenging period. And it will be a big driver behind the recovery when it comes.
For that reason, our teams are actively engaged with governments at every level to inform and shape their policy responses during this crisis.
Our counsel is being sought and provided. Whether it is identifying those roles which are essential for our industry and economy to keep working, keeping our planning and building approvals systems function, helping commercial tenants through land tax and rates relief, supporting our retirement living communities, or macro policy issues affecting housing supply and the functioning of capital markets.
In every policy area, every day, we are working on these issues. Our committees are continuing to meet virtually and providing invaluable input. Our divisional teams are talking to our members every day to get their advice and insight so that we can advise and support governments on the best policy settings and decisions.
This is a rapidly changing situation. Each day brings a new challenge. Our team remains absolutely focused on supporting our members, industry and the Australian community through this unprecedented time.