Presidents Welcome
It is my great pleasure to announce that the Australian Property Institute (WA Division) 2008 State Conference will be held at the Hyatt Regency Hotel in the City of Perth. The Conference will consider the position in which the State of Western Australia finds itself as a result of a booming economy. Aptly, the event is themed:
“DIVIDENDS FROM THE BOOM”
The Conference brings together experts to present on Western Australia’s unprecedented, sustained economic growth.
What are the dividends to individuals, families, communities and the State?
Western Australia is Australia’s largest State in area and the second largest subnational entity in the world!
Western Australia has the highest per capita output of any Australian State, with an economy that has been largely based on commodities.
Western Australia's economy recently has benefited from an unprecedented amount of foreign demand for resources, particularly from China. Perth has emerged as a significant administration centre for businesses in the mineral, oil and gas industries.
With about 10% of Australia's population, Western Australia has historically generated approximately 30% of Australia's export revenues, however, the recent commodities boom has pushed this figure to now exceed 40%. The State now generates more export income than New South Wales and Victoria (Australia's two most populous states) combined. High incomes, strong corporate activity, high employment, mineral revenue and a younger population mean that Western Australia provides a significant financial subsidy to other states. The economic boom in Western Australia is so strong that a significant labour shortage has emerged.
This boom has also caused a massive rise in property values across all sectors and regions. Large projects and population growth continue to fuel the economy and to push rental prices up.
The challenge is to develop strategies that build financial, social, human and natural capital, rather than drawing them down - creating a positive future.
The opening keynote address by The Hon. Alannah MacTiernan BA LLB Bjuris JP MLA, Minister for Planning and Infrastructure will provide a thought provoking insight into the major projects either completed or planned – particularly the “Perth Foreshore” proposals.
Tony Howarth, Chair of the Committee for Perth, an organisation which provides a systematic channel through which Perth’s business community leaders can make an enduring contribution to the future development of the Perth metropolitan area will address delegates on the work of the Committee.
The morning session will also welcome Mike Day, a founding partner of Roberts Day, who will provide an overview of the success and challenges of planning and developing in Dubai where enormous growth challenges have been encountered.
Howard Raggatt, of Ashton Raggatt and McDougall, responsible for several of the Nation’s iconic buildings will consider the social dividend of the projects.
The Conference luncheon will be an event in itself and we are honoured to present the Hon. Chief Justice Wayne Martin as a guest speaker.
Post luncheon we will hear from Professor Daniela Stehlik on the topic of “Normalising” a boom : reflecting on social impacts.
A final panel discussion moderated by Tom Baddeley, State Director of the Committee for Economic Development of Australia, will bring together a picture of the major development that has taken place across Perth, together with social implications.
The Conference will undoubtedly be a significant event on the property professions 2008 calendar and provide insightful commentary from an outstanding line up of speakers.
I commend this programme to you and look forward to welcoming you and your colleagues to the Division’s premier event for 2008.
DAVID MOORE FAPI
President, Western Australian Division
Australian Property Institute
