Property Council Chief Executive Mike Zorbas said the new shadow ministry should chart a strong pro-investment agenda, including harnessing overseas investment.
"We congratulate Ted O'Brien and James Paterson on their appointments as shadow Treasurer and shadow Finance Minister.
"We look forward to engaging with them on policies to boost investment into the productive property assets our cities need.
"Congratulations to Senator Andrew Bragg on his appointments to the productivity, deregulation and housing portfolios, areas in which he is well versed. The property industry is dealing with slow federal environmental approvals, and as a nation we are building half as many homes per hour worked than we did 30 years ago.
"We also welcome James McGrath as shadow Urban Infrastructure and Cities Minister. Cities are our key engines of growth and the home of opportunities for most Australians.
"We would welcome the opposition reflecting on the vital role of foreign and domestic institutional investment to build the homes and city-shaping assets Australia needs while continuing its support for efficiencies in our Foreign Investment Review Board processes, environmental approvals and industrial relations.
"The property sector is the country's second-largest employer and contributes over 10 per cent of our GDP.
"We look forward to working with shadow ministers on creating a pro-investment policy environment and debate in the new parliament that will boost Australia's prosperity," he said.
