![AU Economic Budget Update banner](https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/australia/insights/au-economic-budget-update-mobile-banner.jpg?rev=e36e11de4bdd48eab05870918ee04550)
![AU Economic Budget Update banner](https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/australia/insights/au-economic-budget-update-desktop-banner.jpg?rev=4f2d89c0dd974fb795236001f138d197)
Insights
Australia Economic Budget Update 2024/25
In announcing the 2024/25 Budget, the Federal government is attempting to provide some cost-of-living relief for households while maintaining a path of disinflation.
In announcing the 2024/25 Budget, the Federal government is attempting to provide some cost-of-living relief for households while maintaining a path of disinflation.
The overall outlook for the economy remains upbeat; growth is forecast to remain positive, and inflation fall back within the RBA’s target band over the next fiscal year. However, near-term growth forecasts have been trimmed from the last budget, albeit modestly.
The pipeline for net overseas migration remains supportive of all segments of Australian CRE; net overseas migration is forecast to be nearly 1 million over the next four years.
Addressing housing supply was a key component of this budget. A number of measures supporting the living sector were announced, including an additional $6.2 billion to increase housing supply. Measures supporting student accommodation, social housing and rent assistance also featured prominently.
Nearly $3 billion in new infrastructure commitments were announced. A $1.9 infrastructure package for Western Sydney headlined the announcements.
The Budget aims to provide a path forward for the Australian economy. However, Australia is vulnerable to external shocks, which could cause the outlook to be revised.
The overall outlook for the economy remains upbeat; growth is forecast to remain positive, and inflation fall back within the RBA’s target band over the next fiscal year. However, near-term growth forecasts have been trimmed from the last budget, albeit modestly.
The pipeline for net overseas migration remains supportive of all segments of Australian CRE; net overseas migration is forecast to be nearly 1 million over the next four years.
Addressing housing supply was a key component of this budget. A number of measures supporting the living sector were announced, including an additional $6.2 billion to increase housing supply. Measures supporting student accommodation, social housing and rent assistance also featured prominently.
Nearly $3 billion in new infrastructure commitments were announced. A $1.9 infrastructure package for Western Sydney headlined the announcements.
The Budget aims to provide a path forward for the Australian economy. However, Australia is vulnerable to external shocks, which could cause the outlook to be revised.
Contacts
RECENT INSIGHTS
![Office Fit Out Cost Guide 2024](https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/common/campaign-images/2024/office-fit-out-cost-guide/fit-out-cost-guide-2024-card.jpg?rev=edd7a1aec645440b8981eefe283dc14d)
Insights • Workplace
Explore our Office Fit Out Cost Guide to budget and plan your workspace transformation in the Asia Pacific region effectively. Start optimizing your office today!
Dominic Brown • 19/03/2024
![Logistics & Industrial Australian Capital Markets 2024 Outlook](https://cw-gbl-gws-prod.azureedge.net/-/media/cw/apac/australia/insights/capital-markets-2024-outlook/lioutlook2024webcard750x456.jpg?rev=d4d96b9721e24294a0346b136974fb41)
Research • Investment / Capital Markets
Logistics & Industrial Capital Markets 2024 Outlook
We are pleased to launch the first issue of Cushman & Wakefield's 2024 Australian Logistics & Industrial (L&I) Capital Markets Outlook Report. This comprehensive report provides an in-depth analysis of the key themes that shaped the L&I sector in 2023 and offers a detailed forecast for 2024, taking into account the prevailing macroeconomic conditions.
21/02/2024