It is great to be able to deliver this newsletter to the membership of the API in the nation’s capital.
Since October last year an enormous amount has happened in Canberra, the property market and in our industry.
The change in government promised a lot and so far we have seen a Commission of Audit and a Federal Budget that will have medium term impacts on the ACT economy.
The actions of the outgoing Labor Government and announcement of the new Coalition will result in a total of around 16,000 jobs to be shed across the Australian Public Service, which currently totals 250,000 people including military and reserves.
In 2013 and 2014, just over 8000 of these have already occurred, with a forecast for 2014/2015 of 4600 and the balance in the 2015/2016 year.
The Departmental analysis shows that over the next few years 4000 to 5000 of these job losses will be in Canberra, with the departments most affected being the Australian Taxation Office, Australian Federal Police), Education, Australian Electoral Commission, Foreign Affairs & Trade, Health and Industry.
On a note closer to home, the announcement by the Commonwealth Government to close the Australian Valuation Office, which has operated for 100 years, is extremely disappointing and our support goes out to our members that have lost their jobs.
The belt-tightening of the Commonwealth Government and budget announcements in May have forced the ACT Government to respond and provide stimulus to the ACT economy in an attempt to drive activity.
Changes to commence and completion extension fees, the Lease Variation Charge System and increased infrastructure works are but a few modifications that will deliver increased confidence and activity for the market.
During the past six months or so, the API locally has enjoyed great support from the membership and sponsors, resulting in an engaging CPD program, with the Industry Forum and AGM luncheon occurring in March.
Our focus for the balance of 2014 and beyond, at an ACT Divisional level, is to increase membership and continue delivering an engaging CPD program.
We have had good feedback from the membership on our CPD program and we understand how critical it is to deliver improved services and value for money for our members and their guests.
Thank you for your ongoing support.
Paul Powderly ACT API President