Expectations of economic growth

Expectations of economic growthIndustry leaders in the Tasmanian property and construction sector have continued to express their positive expectations about doing business in Tasmania according to the latest ANZ/Property Council Survey.The fifteenth survey, which is the largest of its kind in the country, shows Tasmania’s property industry sentiment remained relatively steady since the last survey in March 2015.Property Council Tasmanian Executive Director Brian Wightman said the results sustained a positive trend and demonstrated that Tasmania had a significant opportunity as a result of consistent and increased confidence across the economy.Despite an overall drop in confidence from 137 to 130 points since the previous quarter, Tasmania is only one point below the national average of 131 and outranks all other states and territories, with the exception of NSW, VIC and the NT.”Respondents to the survey have indicated their confidence through a number of measures such as house capital growth and retail growth”.”An increase in state economic growth was also particularly encouraging with Tasmania recording a substantial increase when compared to the December 2014 quarter. “Tasmania remains an island of opportunity and members look forward to delivering continued investment and development.” Mr Wightman said.Mr Wightman continued to praise the State Government for its focus on job creation, and for delivering planning reform and regulation reduction.”Property Council members yearn for a strong government with both a clear reform agenda and an effective plan to achieve significant outcomes.”The State Government and the Property Council are on a unity ticket when it comes to creating prosperity, jobs and strong communities,” Mr Wightman said.The Tasmanian Division of the Property Council of Australia believed that consistent advocacy was providing impetus for improved confidence and heightened expectations.”Tasmania must continue its reform journey with local government amalgamations that deliver improved governance and value for money for rate-payers hopefully heading to the top of the Government’s legislative efforts,” Mr Wightman said.Mr Wightman also commended the Tourism Industry Council Tasmania for assisting with the continued increase in demand for hotel investment and development which remains streets ahead of the rest of the country.”Let’s capitalise on the significant opportunity that economic growth, and in particular tourism presents and work together to deliver jobs for Tasmanians,” Mr Wightman concluded.Media contact: Brian Wightman | M 0429 073 773 | E [email protected]