A heavy topic on peoples mind is our ongoing economy in daily meets with locals through my real estate profession. It is a daily topic of discussion resonated through a variety of social circles, the young, the old, families, singles and anyone forming part of today’s Australian economy here in Concord and neighbouring inner west suburbs.

It is an extremely important element as it creates business confidence, employment creation and creation of new development and construction. In the hope of increased confidence and therefore an increased and consistent construction of new homes, buildings and community centres is restoring confidence in our economy. Structural reform is currently taking effect to lift the underlying potential of our economy.

Australia’s failure in recent years to embrace structural reform has seen our productivity performance deteriorate over and above the temporary dampening impact we would have expected from the receding investment phase of the mining boom.

Initial indications from private sector surveys as well as market activity in such suburbs as Concord alone and neighbouring suburbs is that we have seen a general rebound in business confidence with the recent change of government.

Whilst this growing confidence is encouraging, we should be mindful that further decisive action is required to build on these positive signs. Both the Carbon Tax and the Minerals Resource Rent being abolished have made the cost of doing business in Australia more competitive.

They were poorly designed and badly implemented – adding unnecessary regulation to enterprise. With these initial steps for the future; the general community consensus is that there is a greater demand for our country to stay open for business, open for investment and continuing to go for growth. The rising consumer confidence is evident in the ever-increasing property market activity occurring daily.