According to the latest results from the ANZ/Property Council Survey, the property industry confidence levels are steadily bouncing back after recording near-record highs as the sector surges into economic recovery from the COVID-19 pandemic.
The national industry confidence for the March quarter continued its upward trend to 142 points, rising 19 index points from the previous quarter at 123. This is the highest index score since September 2017.
All states and territories confidence came near-record high levels to start 2021 on a strong note.
Key Findings for March 2021 Quarter:
- National confidence levels increased by 19 index points to 142 in the March 2021 quarter and is at its second highest level since the survey began. WA reached its highest confidence level on record.
- National forward work expectations increased from 31 to 53 over the March 2021 quarter.
- National staffing level expectations increased by 17 index points to 29 over the March 2021 quarter.
- National economic growth expectations increased to 38 index points, the highest level on record.
- Nationally, 64% of respondents believe the impacts of the Coronavirus outbreak on their business will improve over the next 3 months, 33% of respondents believe there will be no change and 3% of respondents believe the impacts will get worse.
- 67% of respondents believed the Hotels, Tourism and Leisure sector will continue to be the most severely impacted by the Coronavirus outbreak over the next three months, followed by commercial office (17%) and then shopping centres (11%).
- Respondents from all states and territories tracked believed there will be an interest rate increase over the next 12 months
There were 830 respondents to the online survey between 15 March and 31 March 2021.
To view select ANZ/Property Council Survey historical data series, visit the Property Council’s Data Room.
To find out more about the ANZ/Property Council Survey and our Supporting Sponsor RCP, visit: www.propertycouncil.com.au/confidence