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Strengthening industry sentiment seen in NSW

The latest ANZ/Property Council Survey released today for the December quarter shows a strengthening of the NSW property industry’s confidence.

NSW industry confidence has increased from 139 index points in September 2017 to 147 index points in the December quarter indicating a significant strengthening of industry sentiment.

“Forward work expectations and economic growth expectations have increased over the quarter showing an industry solidifying its position in an uncertain policy environment,” Property Council NSW Executive Director Jane Fitzgerald said today.

Lower staffing expectations have also been seen this quarter potentially signifying a reduction in recruitment activities.

“There is still strong capital growth expectations across the residential, office, industrial and retirement living sectors with the retail sector rebounding off a low base indicating future growth expectations are still strong,” Ms Fitzgerald said.

“There is also an easing in expectations around debt finance availability this quarter after three quarters of worsening sentiment.

“What this most recent survey indicates is that the NSW industry is resilient and has a confident outlook to the future; and it’s important this continues.

“There are currently 70 pieces of planning policy being considered by the Government according to the Department of Planning website; policy that has been consulted on yet is awaiting a decision.

“It is this policy that we must see decisions on in order to continue the strengthening of industry confidence and ensure economic and jobs growth continues.”    

 

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

Media contact:  William Power| M 0429 210 982 |   E wpower@propertycouncil.com.au