Confidence improves across Queensland’s property industry
A five point rise in confidence from Queensland’s property industry halts the trend of three consecutive quarterly drops, according to a new survey.
The ANZ/Property Council Survey is the nation’s leading measure of industry confidence, with almost 1800 respondents across the country participating in the survey.
This quarter Queensland moved up to 130 on the index, which is one point below the national average, and well above a score of 100 which is considered neutral.
This improvement in confidence is a positive sign for the wider Queensland economy, Queensland Executive Director of the Property Council of Australia, Chris Mountford says.
“A more confident property industry translates directly into jobs, prosperity and strong communities right across Queensland.
“It is widely acknowledged that the property industry has a critical role to play in creating jobs and strengthening the Queensland economy following the mining downturn.
“The survey findings show that over the next twelve months the property industry in Queensland is expecting a strong forward work schedule and is anticipating employing more staff.
“In fact, the employment growth forecasts reported in the survey are the strongest they have been in the past 12 months.
“However, the survey also shows that New South Wales remains the powerhouse of the nation, recording a score of 146 on the index.
“Queensland is situated back in the middle of the pack alongside Victoria and the ACT.
“With New South Wales showing no sign of slowing, and with over $ billion in their infrastructure investment pipeline over the next 4 years, Queensland will need to work even harder to keep up with our southern neighbour.”
NOTE: This survey was conducted from the 16th to the 27th of March (prior to the Queensland State budget).
Media contact: Chris Mountford |M 0408 469 734 |E [email protected]