Mirvac CEO on Australia's Property Sector

The transcript discusses the resilience of Mirvac's business amidst economic changes, focusing on domestic and commercial projects. It highlights housing market dynamics, inflation impacts, and the return to office trends. The conversation also covers asset management strategies and challenges like labor shortages, emphasizing the importance of skilled migration and housing supply for future growth.

What is the primary focus of Mirvac's business strategy?

• Retail market dominance

• Technology innovation

• Domestic owner-occupied residential projects

• International expansion

How does Mirvac view the potential decline in Sydney property prices?

• As a decline in rural areas

• As a uniform decline across all markets

• As a decline primarily in the upper quartile of established housing

• As a decline in new build apartments

What has been a surprising factor for many people regarding the economy?

• The rapid increase in technology adoption

• The decline in global trade

• The rise in unemployment rates

• The unexpected inflation numbers

How has Mirvac's commercial leasing activity changed recently?

• Shifted to smaller footprints

• Increased significantly

• Remained stable

• Decreased significantly

What strategy does Mirvac use to grow its assets under management?

• Acquiring existing properties

• Developing new projects and partnering with investors

• Focusing solely on residential properties

• Investing in international markets

What is a major concern for Mirvac regarding the labor market?

• Excessive labor costs

• Lack of skilled migration

• Overstaffing issues

• High turnover rates

What is a key area of focus for Australia to support population growth?

• Enhancing technology infrastructure

• Building enough homes

• Increasing exports

• Reducing taxes