ACT property industry sentiment update

Confidence levels in the ACT property sector have risen according to a leading indicator of business sentiment.

The ANZ/Property Council Survey‘s leading index for the December quarter of 2014 shows an upward shift in sentiment by 26 points to 127. A score of 100 points is considered neutral.

The quarterly survey polled over 2,0 property industry professionals across all Australian states and territories on their forward-looking views regarding the business and political environment, the economy, employment intentions and other factors.

Property Council ACT Executive Director, Catherine Carter, said that it is pleasing to see some improvement in confidence in the Territory given the slow-down in construction activity, largely as a result of Commonwealth Government spending.

“There are some positive trends reported, notably an increase in forward work expectations and staffing levels which are expected to rise, and an increased level of positive sentiment around the retail, hotel and retirement sectors.

“However, the ACT remains under the Australian average in terms of business sentiment, and there are a number of areas in which further focus is needed in order to lift and improve confidence. State economic growth expectations continue to be negative, government performance with respect to planning and managing growth remain negative, and significant concerns about the Canberra office market remain.

“Clearly the market is in a state of flux, and so we will be working with government to address the issues of concern and to rebuild confidence in the Territory.” Ms Carter concluded.

Media contact:

Catherine Carter
Property Council of Australia, ACT Executive Director
Ph: 0412 330 079

Full results available at www.propertyoz.com.au/confidence