On the 17th of October, the Property Education Foundation Board and Operations Committee convened for the Annual General Meeting.
Our Chairman, Joe Lenzo presented an overview of the Foundation’s accomplishments over the past year.
Chairman’s Report
The past year has seen a return to solid population growth in WA, currently the fastest rate of any state or territory. This has contributed to a significant imbalance between supply and demand, maintaining pressure on WA residential sales and rental markets. House prices and rents have risen throughout the year.
The commercial and industrial property sectors show a strengthening office market with reducing vacancy rates and positive industrial property results.
In this environment the Foundation has increased its level of activity in student attraction and student industry engagement activities, including:
- attendance at five schools career expos
- student site visit at Perth Airport
- the internship program, coordinated by Rowena Ong and the PEF Secretariat, that placed students with our participating industry partners Cygnet West, JLL, Stockland, Cedar Woods Properties, Perron Group, Landgate, Ray White Commercial, Realmark Commercial, Bankwest, DevelopmentWA and Limnios Property Group
- the introduction of an annual Leading Property Student Award
- PEF funded student tickets to Industry events with UDIA WA and PCA
- Student participation at the Annual PEF Regatta, and
- Meet the Future Leaders event at Curtin University
Operations report:
The Foundation’s investment portfolio continues to be managed by Shadforth Financial Group. The net return for the portfolio for the financial year was 5.95%. The Foundation’s Board considers this an acceptable result considering a year of volatility in global financial markets.
I also wish to acknowledge the invaluable assistance of our honorary Treasurer, Lee Pinkerton, and all Board and Committee Members for their dedicated support of the Foundation.
Finally, I wish to acknowledge our Secretariat for the administration and organisation of the Foundation’s activities.
Joe Lenzo
Chairman.
