ANZ/Property Council Survey
The latest ANZ/Property Council Survey has shown NSW property industry confidence has dropped to one of the lowest in the nation.
NSW property industry confidence has dropped one index point from 120 to 119 over the quarter and has fallen 22 index points over the 12 months to March 2019. A score of 100 is considered neutral.
Lower forward work schedule expectations and house capital growth expectations have dragged down sentiment contributing to lower results across the board.
Property Council NSW Executive Director, Jane Fitzgerald has said “Sentiment is down and with a state and federal election just around the corner, I don’t think we will see it rebound in the short term despite stronger results in some sectors.
“The industry is facing a lot of uncertainty and change, particularly over the past twelve months. We have seen the introduction of Special Infrastructure Contributions, increasing 7.11s, the changing of key policies such as the Medium Density Housing Code, the updating of LEPs, and the review of approaches to planning in areas such as Ryde – that’s a lot of change for an industry.
“Good and steady leadership is required on issues of planning and managing our growth to ensure declining industry sentiment and a flat residential market do not weigh down our NSW overall economic growth.”
To read more about the ANZ/Property Council Survey visit the Property Council website here.
|
Index |
Overall Context |
Quarterly Result |
Quarterly Change |
Comment |
|
Confidence Index |
POSITIVE |
DOWN |
120 to 119 |
A fall of one index point and the second lowest across the country |
|
State Economic Growth |
NEGATIVE |
DOWN |
-2 to -3 |
Down one index points and the lowest level in six years |
|
State Govt Performance |
NEGATIVE |
DOWN |
9 to -2 |
Confidence moved into negative territory for the first time in almost five years |
|
Debt Finance Availability |
NEGATIVE |
DOWN |
-28 to -34 |
Lowest result on record and in line with national trends |
|
House Capital Growth |
NEGATIVE |
STEADY |
Steady at -60 |
Result remained steady and well below the national result of -23 |
|
Forward Work Schedules |
POSITIVE |
DOWN |
32 to 30 |
Despite remaining in positive territory, it is now well below the historical average of 47 |
|
Staffing Levels |
POSITIVE |
UP |
20 to 23 |
An increase over the quarter following a nine-point fall in the previous quarter |