Steady confidence with opportunities to grow

Despite a decrease in industry confidence in today’s September 2016 quarter ANZ/Property Council Survey, the ACT continues to perform above the national average.

“The ACT currently ranks third nationally in business confidence along with SA, and this is in a quarter where almost all jurisdictions, with the exception of VIC and SA experienced downgrades in business confidence,” says ACT Executive Director, Merlin Kong.

“The long-term confidence index shows the ACT continuing to trend upwards, and coming off last quarter’s 19 point increase in business sentiment over
12 months, we’re most likely seeing a period of market adjustment.

“Fundamentals are strong at the moment, with forward work schedule expectations continuing to be one of the strongest in the country, and staffing level expectations increasing significantly from last quarter.

“It’s worth noting that the ACT also recorded an increase in state government performance index.

“Still, there is room for improvement, and issues such as mixed use development reforms, city activation, and urban renewal are intersections where government and industry can work constructively together to come up with good outcomes for the community.

“These latest survey figures further show the industry’s shared vision for our city.

“However, there needs to be better tax alignment to ensure that investments are viable and planning certainty can allow for projects to be delivered on-time and on-concept.”

 

Media contact:  Merlin Kong |  E mkong@propertycouncil.com.au