Report Highlights Significance of a Strong Property Sector

Tuesday, October 20th, 2015
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As a landmark report and campaign underscores the significance of Australia’s property industry to jobs and economic prosperity.

Economic Significance of the Property Industry to the Australian Economy, produced by AEC Group on behalf of the Property Council of Australia, confirms the critical role the property industry plays in the national economy.

According to the report, the property industry is the nation’s largest, contributing $182.5 billion to the economy and generating 1.1 million jobs – more than mining and manufacturing combined.

“Australia is recognised as a world-leader in sustainable building – and we have almost 1,000 Green Star-rated projects as proof of our excellence and innovation in this field,” says the GBCA’s Chief Executive Officer, Romilly Madew.

“Just under a quarter of all our CBD office space is Green Star certified – and the amount of certified space in other sectors is growing exponentially.

“Australian leadership in sustainability is making waves around the globe – with world-leading green buildings, technologies and approaches the result.”

The latest GRESB Survey, which assessed the sustainability of 707 global property companies and funds, found Australia was the global sector leader. Three Australian companies – Stockland, The GPT Group and Lendlease – were named ‘regional sector leaders’, with Lendlease also ranking top of the table.

The 2015 Dow Jones Sustainability Index also ranked Stockland its global leader for real estate, with The GPT Group, Lendlease, Dexus and Mirvac all receiving applause.

“We have an industry of talented people who understand how to build efficient, productive, low-carbon buildings – the very buildings needed throughout Asia as two billion people increase their consumption and their carbon footprints,” Ms Madew says.

“We have the experience and expertise. Now we need policies and programs that encourage the property industry to grow – and to help us export our sustainability skills to the world.

“We need visionary government leadership that embeds sustainability into planning and building requirements, that pushes us to remain at the forefront of innovation and world’s best practice, and that supports the nation’s largest industry to continue its sustainable transformation,” Ms Madew concludes.

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