ACT Property Sector Confidence Up

New figures released today canvassing the views of property owners, developers, agents, managers, and consultants indicated an increase in business confidence for the ACT.

According to the latest ANZ/Property Council Survey, the Territory recorded a 19 point increase in business sentiment to 138 on the index in the last 12 months to June 2016 — the highest yearly increase in the country.  

“The overall results for the ACT are positive, with residential, office, retirement living, and hotel/tourism capital growth expectations increasing from the March 2016 quarter,” says ACT Executive Director, Merlin Kong.

“It’s worth noting that aside from NSW and TAS—the ACT was the only other jurisdiction recording a positive government performance index.”

“This hits home on the vital importance of Government leveraging on our gains to further grow our economy. This is especially in light of slight decreases in expected forward work schedules, and economic growth for both the ACT and the nation.

“Addressing this, the Government needs to ensure that the ACT has the right planning and taxation frameworks to stimulate investments, which in turn creates more jobs.

 “With the ACT property sector directly generating over 25,500 jobs and approximately $1.4 billion in wages, what is good for property is good for our economy.

“We look forward to working with the ACT Government to further grow the ACT economy.  Central to this are urban renewal policies that result in more jobs for Canberrans.”

Media contact:  Merlin Kong | M 0429 579 972 | P 02 6276 3602 | E mkong@propertycouncil.com.au