Understanding the Property Council of Australia | Development Ready

The property industry is the biggest industry in Australia, representing one ninth of Australia's GDP, employing more than one million Australians, and generating $72 billion in tax revenues. Yes, it even beats mining and manufacturing to the mark.

Given the industry’s important role in creating jobs and stronger communities, it’s crucial it has a strong advocate dedicated to driving industry growth.

Enter the Property Council of Australia (PCA). This is the leading advocate for the property industry, and the place where industry stakeholders can discuss their future visions for the property market. 

What is the Property Council of Australia?

Established in 1969 as the Building Owners & Managers Association (BOMA), the Property Council of Australia has since grown to employ more than 100 staff in 10 offices around the country.

Since 1996, when the BOMA became its latest reincarnation, the Property Council of Australia has made advocacy its key focus. It has built a database of some 2200 members who invest, own, manage and develop every sector of property.

It has since established the:

• Residential Development Council
• International and Capital Markets Division
• Retirement Living Council

It has also helped establish the Green Building Council of Australia.

The Property Council of Australia’s mission to provide a voice

The Council has dedicate itself to providing a respected, influential and powerful voice for its members. Since its latest inception, it has worked towards building this voice by participating in industry discussions, championing a strong property industry, and holding renowned industry events.

Entering the debate 

The PCA has helped tell the industry’s story and built authority by participating in such national issues as economic growth, tax reforms, and planning for changing demographics. 

In recent months, for example, the Council has launched the Data Room, Australia’s largest source of economic and property data, and contributed to the discussion on housing affordability.

Advocating for industry interests

Since 2015, the Council has reinvigorated its efforts to promote the industry’s cause by pushing issues that will create jobs, wealth, and stronger communities. 

It has, for example, advocated for fairer taxes and planning reforms and, more recently, has advocated for the build-to-rent construction sector.

It frequently revises its policy position to ensure it’s always serving the needs of the industry and its members - those who own, invest, and develop property.

Most importantly, it works on both a federal and local level to promote agendas that can be easily actioned by politicians.

Hosting events to highlight the importance of the property industry

The PCA hosts a full calendar of some 250 events across the country, attracting upwards of 50,000 guests and members. 

These events - conferences, forums, site tours, division lunches, and awards ceremonies - are often some of the most prestigious business events in Australia. This provides a great platform to showcase the property industry’s economic and social contributions and achievements.

They prove an excellent networking opportunity for PCA members. But they also help to provide a space to open up discussion for the policies and issues that inform the Council’s advocacy work. 

The Council’s vision moving forward

The PCA has always been dedicated to advocating for its members by championing a strong property industry and becoming an industry leader itself. 

Its vision is to create a thriving property industry that promotes prosperous communities through job creation, among other factors. 

It intends to do this by, among other things:

• Increasing wealth in the investment, ownership, and construction of Australian property.
• Participating in the exchange of ideas with other key stakeholders to help improve the property marketplace.
• Liaising with all levels of government to represent property interest.
• Showcasing the property industry’s contributions to the broader economy and community.
• Helping members develop professional skills through programs, events, information sharing, and more.
• Issuing publications to keep members and the broader public informed of industry trends and issues.

An asset for those in the property industry

If you’re already a key player in the property industry, you’d benefit massively from becoming a member of the Property Council of Australia. 

Membership will help you stay up to date with current property trends and in touch with contemporary issues. It will give you opportunities to attend some of the country’s best business events, to network and grow your business.

For another way to stay up to date with industry trends, be sure to check in with our Development Ready blog for the latest property news, trends and deals.