Last week, the Property Investment Council of Australia (PICA) hosted a compelling event addressing the pressing challenges and opportunities faced by property investors, particularly in Victoria. Led by Tim Graham, Victorian representative for PICA, and Ben Kingsley, National Chair of PICA, the evening offered attendees valuable insights into the current state of the property investment landscape and the road ahead.
The State of Property Investment
Tim Graham opened the event by sharing his journey as a property investor and the increasing difficulties faced by investors in Victoria due to restrictive regulations and policies. Highlighting the sharp reduction in available rental properties—down by 26,000 in recent years—he emphasised the need for collective action to counteract policies that disincentivise investment and exacerbate housing shortages.
Ben Kingsley built on these points, explaining how decades of underinvestment in public and social housing have shifted the burden to private investors. He criticised the narrative that blames property investors for affordability issues, pointing out that such narratives fail to address the root causes of the housing crisis.
Economic and Policy Impacts
The discussion also delved into the broader economic implications of current policies. Tim and Ben highlighted Victoria’s growing debt—now higher than the combined debt of all other Australian states—and the risk it poses to economic stability. They discussed the impact of government measures such as stamp duty concessions and the proposed short-stay levy, raising concerns about their potential to deter investment and harm regional economies reliant on tourism and short-term rentals.
The speakers contrasted Victoria’s approach with Western Australia, where incentives encourage short-term rentals to transition into long-term housing. Ben noted the success of such programs in improving rental availability and suggested they could serve as a model for other states.
A Call to Action
Both Tim and Ben emphasised the importance of unity among property investors. Growing PICA’s membership was highlighted as a critical step toward amplifying their collective voice in advocating for fairer policies. “With over 2.3 million property investors in Australia, we have the power to influence change,” said Ben, stressing the need for coordinated efforts to restore balance to the narrative surrounding property investment.
The Way Forward
The evening concluded with a focus on solutions, including advocating for smarter economic strategies, better regulation of property investment advice, and stronger support for ethical standards through organisations like PICA and PIPA (Property Investment Professionals of Australia). Attendees were encouraged to stay engaged, sign petitions, and spread awareness to create a stronger collective impact.
A Night of Insights and Inspiration
For those who couldn’t attend, the event provided a clear message: property investors are facing significant challenges, but by working together, they can influence positive change. PICA's leadership and advocacy offer a roadmap for navigating these complexities and ensuring that property investment remains a viable path for Australians seeking to build wealth and stability.
Stay tuned for future events and initiatives from PICA as they continue their work in shaping the future of property investment in Australia.
You can view a recording of the event below; though we must apologise, due to some technical difficulties, the recording ends abruptly about 10 minutes early.
