_UP, DOWN, OR PLATEAU?

The Property Council of Australia (Victoria) (PCAV) ‘Star Gazing’ panel discussion at Crown on 17 February was an interesting and informative event.

PCAV had Mark Korda (KordaMentha), Professor Ian Harper (Deloite Access Economics), Stephen Mayne (journalist and Councillor), Daryl Browning (ISPT Pty Ltd) as panelists ably chaired by Peter Verwer (PCAV).

The topic was ‘star gazing’ about the world, Australian and Victorian economies and the immediate / medium future.

The general feelings seemed to be that:
• Governments debt was a real dampener to activity – too much previous spending beyond our means;
• migration was a positive balancing force against the negatives;
• poor and decreasing productivity was a major concern;
• the property development sector will remain for some time an unpopular area for financiers;
• in Victoria, there is room for optimism although this may be reflected in activity later than 2012.

Enquiries Mike Collie (mjsc@colliepl.com.au)