A housing industry stalwart is returning to the Property Council of Australia as chief executive officer.
Ken Morrison has been appointed CEO of the council, replacing Peter Verwer, who is moving to Singapore to head up the Asia Pacific Real Estate Association.
Morrison, currently Tourism and Transport Forum CEO, was previously the council's chief operating officer and executive director of the organisation's NSW Division.
“Morrison possesses a wealth of advocacy experience along with a deep understanding of the opportunities and challenges facing the property industry,” Property Council national president Darren Steinberg said.
“He also brings unique skills in industry policy-making and political engagement as well as an impressive track record in delivering member value.”
Australia has the opportunity to better plan and invest in cities and regions to boost economic productivity and national living standards, Morrison said.
“The property industry's annual $370 billion contribution to economic activity and the $34 billion paid in real estate-specific taxes show the Property Council has a big role to play in promoting these goals.”
The property and construction industries account for 1.3 million jobs and 11.5% of annual GDP, with more than $6 trillion of the nation's wealth held in property investments.
“Australia has also democratised property ownership more than any other country, with over 11.6 million Australians collectively owning the nation's most valuable commercial real estate assets through their super funds and investments,” Steinberg said.
“The property industry has a huge role to play in further lifting Australia's prosperity.”
s spending at highest levels in nearly 20 years
Confidence rebounding among property professionals
Dreams of home ownership dying