Victoria leads the nation in confidence index

The latest ANZ/Property Council Survey shows that the Victorian property industry sentiment is the nation’s standard-bearer, building on population growth and continued foreign investment interest.

Property Council Victorian Executive Director, Sally Capp, said the robust levels of confidence will support future job growth, but that the industry remains lukewarm on government management of the economy.

Nevertheless, business is encouraged by the current state of play and hopes that all levels of government — both federally and at the state level — can channel their energy toward supporting economic growth.

The ANZ/Property Council Survey is the nation’s leading measure of confidence in the property industry and polled 1,104 respondents for their forward-looking views.

The total index score for Australia declined slightly from 141 to 139 points over the March 2018 quarter. A score of 100 is considered neutral.

The latest ANZ/Property Council Survey highlights positive trends in 12-month ahead construction activity expectations for the Hotels, Industrial, Office and Retirement Living sectors. Results in the Retirement sector are anticipated to drive further opportunity and activity.

Forward work expectations rose for the March quarter, supporting a strong and stable index score of 145 points for Victorian respondents’ sentiment.

“Victoria’s property market is now showing the highest levels of confidence in Australia. Government and Industry must acknowledge this and work to capitalise on sector sentiment,” said Ms Capp.

“Given Victoria’s strong property market, there is a unique opportunity for the Victorian Government to explore new asset classes such as Build to Rent, which would provide more secure rental accommodation and increase housing stock.

“We welcome the opportunity to work with Government on responding to this positive sentiment and delivering further investment and job growth.”

Media contact: Sally Capp   |   E scapp@propertycouncil.com.au

To view select ANZ/Property Council Survey historical data series in the Property Council’s Data Room, click here.

To find out more about the ANZ/Property Council Survey and our Supporting Sponsor RCP, visit http://research.propertycouncil.com.au/research-and-data/anz-property-council-survey