Government hotels tourism and leisure driving an optimistic future

Government, hotels, tourism and leisure driving an optimistic futureOff the back of significant private and government investment, Tasmania’s property industry has seen an increase in Hotel capital growth expectations, according to the latest ANZ/Property Council Survey.The thirteenth survey, which is the largest of its kind in the country, shows Tasmania’s property industry sentiment was down slightly by twelve points but still remained confident after the 2014 State Election result.Property Council Tasmanian Executive Director Brian Wightman said the results were promising and showed that Tasmania had a significant opportunity as a result of consistent and increased confidence in the tourism sector.”Respondents to the survey have indicated their confidence through a number of measures such as the expectation of Hotel capital growth and increased work schedules over the next 12 months,” Mr Wightman said.”It is clear that having a majority government, coupled with the quick action by the new government in announcing the $10 million water and sewerage developer charges holiday and the announcement of the implementation of the planning reform agenda, Infrastructure Tasmania and the Coordinator-General appear to be winning the industry’s confidence.”The Government performance index conveying a view that the Tasmanian State Government is doing a good job planning and managing growth is the highest in the country.The survey polled over 2,0 professionals from the property industry in all states and territories for their forward-looking views.”Despite a subdued outlook for staff level expectations and office capital growth, likely reflecting a soft business investment environment, the property sector expects capital growth across Hotel and Retirement living capital in the coming year. In addition, housing market activity is expected to improve with expectations of further gains in house prices and residential construction activity.”The continuation of the First Home Builders Boost has driven continued confidence in House capital growth expectations and this is most pleasing,” Mr Wightman said.Mr Wightman believed that the State also had a significant opportunity to leverage off increased confidence in the Retirement sector where he saw an opportunity for jobs growth and social service provision.”Retirement investment is a strength, let’s be proud of the fact that we can grow jobs and service provision through delivering a more integrated network of opportunities for older Tasmanians,” Mr Wightman said.The property and construction industries employ 16.7 per cent of Tasmania’s workforce, is the state’s largest single contributor to gross state product at 10.9 per cent, and pays over $800 million in property-specific state and local taxes.A score of 100 is considered neutral.Media contact:Brian Wightman Property Council of Australia, TAS Executive Director Ph: 0429 073 773Full results available at www.propertyoz.com.au/confidence