Apartment development policies critical to maintaining WA’s confidence: PCA
By Bianca Dabu
16 April 2021
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1 minute read
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Confidence in Western Australia’s property industry is soaring, but investment-sapping taxes are tipped to slow growth.
The latest ANZ/Property Council of Australia industry confidence survey placed Western Australia at the helm of industry confidence, with 157 index points in March – up 24 points over the past three months and above the national average of 142.
Western Australia’s expectations around forward work schedules, staffing levels and economic growth were also the highest in the country, Property Council WA executive director Sandra Brewer said.
“High industry confidence is a reflection of our state’s ability to weather the storms of COVID-19 and work together to ensure our economy, which is underpinned by a strong property industry, continues to grow.”
See the plans for the huge Gold Coast suburb that will house up to 10,000 people
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Property growth expectations hit record highs
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Confidence in Victoria’s property industry lags behind national average
By Bianca Dabu
15 April 2021
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1 minute read
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While confidence continues to climb across a majority of the nation, Victoria is lagging behind as it struggles to recover from the impacts of COVID-19.
In the latest ANZ/Property Council of Australia industry confidence survey, Victoria scored a slim 124 index points for the March 2021 quarter – below the national average of 142. A score of 100 is considered neutral.
In contrast, all other states and territories were either at par or higher than the national average, with Western Australia at 157 index points, NSW and the ACT at 145, Queensland at 144 and South Australia at 142.
Date Time
Property industry confidence continues to climb
Property industry confidence levels are approaching record highs as the sector leads Australia’s economic recovery from the COVID-19 pandemic.
The ANZ/Property Council industry survey for the March quarter found that national industry confidence soared to 142 points, the second highest level since the survey began. This represents an 80-point improvement over the last twelve months when the pandemic first impacted on confidence levels. A score of 100 is considered neutral.
Property Council of Australia chief executive, Ken Morrison, said rising confidence was being driven by record high economic growth expectations.
“When the property industry is confident it is exceptional news for the entire national economy because it employs so many people, more than 1.4 million Australians,” Mr Morrison said.