NSW property industry confidence leads nation

NSW continues to lead national confidence across the property industry, according to this quarter’s survey.

The ANZ/Property Council Survey is the nation’s leading measure of industry confidence, with almost 1,800 respondents across Australia and 552 in NSW this quarter.

Confidence levels in NSW dipped slightly from 149 to 146 points in the past quarter – on an index where 100 is neutral – but are well above the nation-wide average of 131.

“The State’s property industry continues to walk on the sunny side of the street,” NSW Executive Director Glenn Byres said.

“We know property is central to the economic fortunes of NSW – creating one in 10 jobs and generating over 10 percent of the State’s economic growth.

“It has now led the nation on confidence levels for six consecutive quarters and sits well above its eastern seaboard competitors.

“Expectations of capital growth across all asset classes remain positive – and there are strong expectations on forward work schedules, staffing levels and economic growth.

“Industry participants are also favourably reviewing the State Government’s performance in planning and managing growth, and NSW is one of only two states to do so.

“We hope policymakers seize the opportunity to sustain the momentum through planning reform that encourages investment, modernised local government and abolishing stamp duty.”

 

Media contact: Glenn Byres | M 0419 695 435 | E [email protected]