SA confidence peaks on eve of Christmas

Confidence across South Australia’s property sector has picked up, according to the latest quarterly ANZ/Property Council Survey of almost 1,400 industry professionals nationwide.

Statewide confidence has hit 144 for the December 2017 quarter. A score of 100 is considered neutral.

“Confidence levels are at their highest on record and above the national average,” said Property Council SA Executive Director Daniel Gannon.

“There has been a quarterly uplift in forward work schedules, national and state economic growth expectations, house and hotel capital growth expectations.

“Based on these results, South Australia has the lowest rate of residential, commercial, retail, industrial and hotel sales to foreign buyers in the country.

“This means the State Government needs to do more to encourage international investment with the power to drive the economy and create jobs to ensure we don’t miss out on our share.

“While the industry is expecting a lift in office, industrial, retail and retirement living construction activity levels, it is not overly optimistic about the State Government’s management of it.

“One way to address this deficit would be to undertake a significant shift in policy direction and embrace opportunities to future proof South Australia, like local government reform, meaningful tax reform and a strengthening of our state’s population growth rate.”

Mr Gannon said that, in keeping with the past four years, confidence has increased in South Australia heading into the Christmas period.

 

To find out more about the ANZ/Property Council Survey and our Supporting Sponsor RCP, visit www.propertycouncil.com.au/confidence

Media contact:  Daniel Gannon |E  dgannon@propertycouncil.com.au