With the state election in March, the Property Council has revealed its election platform which it says will help the $31.8B industry fill the economic gap left by the resources boom.

It lists 16 policy priorities including setting retirement living housing targets; stamp duty discounts for seniors downsizing from a family home; and re-zoning existing retirement villages to provide more housing options in Perth’s middle ring suburbs.

Executive director Lino Iacomella (pictured) said a key barrier was the need to reform the Retirement Village Act to allow mixed-use development and encourage more ‘vertical’ retirement villages and re-development of current villages.

“This means … an existing village can redevelop to include convenience retail, café, aged care or other on site services to provide greater amenity in a village be it traditional single storey residential or in a new higher density high rise development,” Mr Iacomella said.

The Property Council says new development contributes a huge $6.4B in taxes to the economy while creating nearly 206,000 jobs and paying $11.7B in wages.