The Colliers Research team has prepared a summary of the 2022 Federal Budget announcement with an overview on how the Budget affects key components of the property sector, including Office, Industrial, Retail, Residential, Agribusiness, Hotels and Healthcare & Retirement Living.
- Office: A shift in focus from job creation to addressing labour shortages by focusing on skilled migration, will further assist the continued office sector recovery.
- Industrial: A focus on supply chain efficiencies through continued investment in infrastructure means the Industrial and logistics sector is a clear winner from the 2022 Federal Budget.
- Retail: The Cost-of-Living package will support the continued momentum in the strength of retail spending, but noting that some headwinds are expected through inflationary & cash rate pressures.
- Residential: The Government has continued to focus on housing affordability and first home buyers in this Budget, however, barriers still exist particularly in our most expensive cities.
- Agribusiness: Regional Australia is a major focus of the 2022 Federal Budget providing funding for transformative infrastructure projects that are favourable for the Agribusiness sector.
- Hotels: Alongside international borders reopening, incentives to promote international students and working holidaymakers coming to Australia will provide additional relief to the Hotel and Hospitality sectors.
- Healthcare & Retirement Living: Health remains a key focus area for the Government and the allocations announced as part of the Budget will continue to drive investment flows into the asset class.
Our key findings, along with commentary from the leaders of our Australian business, can be found in the report.
