Confidence rising, but work to be done
The confidence levels of Queensland’s property industry have lifted for the third consecutive quarter, according to the latest ANZ/Property Council industry sentiment survey.
Property industry confidence in Queensland rose by an index point over the last quarter, from 127 to 128 (with 100 being neutral). Despite slowly rising confidence, Queensland remains behind all other Australian states apart from Western Australia, with Victoria sitting at 135 and NSW at 139 index points.
Property Council Queensland Executive Director, Chris Mountford, has warned that while Queensland’s property sector continues to improve, more needs to be done by government to achieve the high levels of industry confidence being experienced in the southern states.
“The difference between the local property industry being pleasantly optimistic and firing on all cylinders is potentially thousands of Queensland jobs,” Mr Mountford said.
“Queensland was the only state that recorded a rise in confidence over the last quarter.
“This is likely due to infrastructure commitments and some positive announcements for the sector in the State Budget, such as the extension of the boost to the First Home Owners Grant.
“But unexpected deviations in government policy, such as the new land tax surcharge on absentee owners, have a real impact on investment confidence and ultimately threaten job creating project opportunities.
“The Queensland industry’s forward work expectations are growing, but future staffing level expectations are still far lower than all other jurisdictions – apart from WA.
“All eyes are now on the impending release of the SEQ Regional Plan, which will have a significant impact on the confidence of the property industry to continue to deliver prosperity, jobs and strong communities in Queensland over the long term.”
Media contact: Chris Mountford | E [email protected]
To find out more about the ANZ/Property Council Survey and our Supporting Sponsor RCP, visit www.propertycouncil.com.au/confidence