RCP is proud to continue as a supporting sponsor of the Property Council of Australia’s ANZ/Property Council Survey. The survey commenced on 16th March and closed on 31st March 2020. The results for the June 2020 quarter survey were conveyed by over 900 respondents across the property industry nationally.
Overall, the results demonstrated a convergence of sentiment across the states, with national confidence decreasing by 61 index points for the quarter.
The results quantify the current and future impacts on businesses in the property industry nationally due to COVID-19, with 52% anticipating a serious impact over the next 12 months.
Impacts on the current construction schedules indicates that all states and territories are being impacted to some degree. Of those surveyed 67.2% expected a moderate adverse impact, 15.3% a serious impact and 17.5% no impact. Forward work schedule expectations revealed a negative sentiment nationally.
The results suggest a positive response to the Government’s stimulus COVID-19 package and the effort to encourage jobs retention and economic activity. The construction industry trajectory is difficult to predict during this unprecedented time, however it is evident there is still some confidence within the industry. Although the negative results this quarter are to be expected in the current environment it will be very interesting to see the survey results next quarter as they move from this new low baseline.
To view the latest ANZ/Property Council survey results, please visit the Property Council of Australia website.