As a supporting sponsor of the Property Council of Australia’s ANZ/Property Council Survey, we are pleased to provide RCP’s commentary in relation to the March quarter survey results, which have been released today.
Overall, we are observing a convergence of sentiment across the states, with national confidence increasing by five index points for the quarter. Confidence improved or remained steady across all markets, excluding the ACT, who recorded an adjustment, bringing them more in line with the national average. South Australia recorded a significant upswing in sentiment from the previous quarter, aligning them more closely to the other states.
National forward work schedule expectations increased by two index points, whilst national staffing level expectations increased by one index point.
Construction activity sentiment rose across a number of sectors including retirement living, hotels and retail. Most notably, residential construction activity expectations have moved into positive territory for the first time in 18 months.
RCP has observed an increase in project work in line with the positive shift in sentiment with major new commissions awarded across all national offices during the reporting period.
To view the latest ANZ/Property Council survey results, please visit the Property Council of Australia website.