RCP is proud to be the supporting sponsor of the Property Council of Australia’s ANZ/Property Council Survey. The survey is undertaken by property industry professionals nationally and provides an up to date snapshot of sentiment within our industry. Provided below is RCP’s commentary in relation to the December quarter results.
The forward work schedule expectations have increased from last quarter and remain in positive territory. However, WA and SA recorded a slight decrease in sentiment. Staffing level expectations nationally have increased 6 index points from last quarter. Its pleasing to see that VIC, NSW and ACT had significant increases in sentiment from last quarter for both forward work schedule and staffing expectations, despite the earlier COVID-19 government restrictions.
The national economic growth expectations have significantly increased from last quarter to positive 36 index points. Concurrently, 61% of respondents nationally are optimistic that the COVID-19 impacts on businesses will improve over the next 3 months.
For the first time since the COVID-19 pandemic, the hotel capital growth expectations for the next 12 months increased into positive territory nationally. It’s good to see confidence returning to this sector. The residential, industrial and retirement construction sectors remain the least impacted by COVID-19 and remain in positive territory.
Despite the negative sentiment experienced over the last 12 months, the national confidence results have increased 12 index points from last quart to 142 points, remaining in positive territory.
The overall December quarter sentiment demonstrates optimism in economic recovery and confidence returning to the property industry.
To view full details of the latest ANZ/PCA December quarter survey results, please visit the Property Council of Australia website.