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17-10-2017 NSW PROPERTY INDUSTRY'S CONFIDENCE SHOOTS UP

NSW property industry’s confidence shoots up

by MPA | 17 Oct 2017

     

The latest ANZ/Property Council Survey for the December quarter shows a significant strengthening of the NSW property industry’s confidence, growing from 139 index points in the September quarter to 147 in the December quarter.

“Forward work expectations and economic growth expectations have increased over the quarter, showing an industry solidifying its position in an uncertain policy environment,” said Jane Fitzgerald, NSW executive director for the Property Council of Australia.

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She added that there was still robust capital growth expectations across the residential, office, industrial, and retirement living sectors, with the retail sector rebounding off a low base, indicating that future growth expectations are still strong.

“There is also an easing in expectations around debt finance availability this quarter after three quarters of worsening sentiment,” she said.

The most recent survey indicates that the NSW industry is resilient and has a confident outlook for the future.

“There are currently 70 pieces of planning policy being considered by the government according to the Department of Planning website; policy that has been consulted on yet is awaiting a decision,” Fitzgerald said. “It is this policy that we must see decisions on in order to continue the strengthening of industry confidence and ensure economic and jobs growth continues.”