Property confidence hits new highs in SA

A change of Government in South Australia has delivered the highest levels of property sector confidence on record.

According to the latest ANZ/Property Council Survey, statewide confidence in South Australia sits at 148 for the June 2018 quarter. Almost 1,100 professionals across the country participated.

“This is unashamedly good news for South Australia’s economy and investment prospects,” said Property Council SA Executive Director Daniel Gannon.  “Confidence levels are more than 30 points above South Australia’s historic average, setting a new national benchmark.

“Overall confidence levels have been trending upward since the June 2015 quarter, but has now hit lofty sentiment levels not seen before.

“On a positive note, state economic growth expectations are also at their highest levels on record, sitting 47 points above the historic average.

“Expectations around forward work schedules have increased on last quarter, with construction activity levels in the office, industrial and hotel sectors expected to lift over the next 12 months.

“One of the most important indicators in the dataset revolves around the State Government and its ability to manage and plan for future growth.

“Confidence in the Government to manage the economy is in positive territory for the first time on record, sitting 19 points above the historic average and increasing by 22 points on last quarter.

“This is a resounding result for Premier Steven Marshall and his Government. Throughout the election campaign, the property sector put forward and supported key policy initiatives, including land tax reform, an independent infrastructure body, and a commitment to drive investment and demand into South Australia.

“These messages and commitments have resonated strongly and shine a bright green light for investment. Now the challenge turns to delivering on these important job-creating reforms,” concluded Mr Gannon.

Media contact:  Daniel Gannon |  E [email protected]

 

To view select ANZ/Property Council Survey historical data series, visit the
Property Council’s Data Room

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