Property industry confidence levels have fallen over the last quarter, but staffing and forward work expectations have remained resilient despite widespread lockdowns.
The ANZ / Property Council survey has revealed that national industry confidence was 130 points in the September quarter, a decline of 9 index points from the June 2021 quarter. A score of 100 is considered neutral.
Aside from the decline, September quarter’s confidence is a promising sign when compared to September last year which recorded a historically low 82 index points. More positive outlooks are on the horizon as 57% of all respondents believe the impact of COVID-19 will improve over the next three months.
Property Council Chief Executive, Ken Morrison, said the property sector has been affected by ongoing lockdowns but is well poised to lead Australia’s economic recovery.
“The property industry clearly has faith in Australia’s capacity to rebound and recover.”
“As we transition through the stages of the National Plan, industry confidence will be strengthened by clarity and consistency in government policies as we reactivate our major cities.”