The downturn in residential markets is driving this confidence slump, but we’re also seeing a less positive outlook across a number of important indicators, including expectations around national economic growth, construction and capital growth across some property types.Ken Morrison, Chief Executive - Property Council of Australia.
The ANZ/Property Council Survey gauges the property industry’s:
The most recent survey canvassed the views of almost 1,200 respondents - including, owners, developers, agents, managers, consultants and government - across all major industry sectors and regions.
The survey was most recently conducted for the June 2019 quarter. Over time, the ANZ/Property Council Survey will track changes in sentiment across property types, markets, as well as identify the determinants of industry confidence.
We need to be cautious, though, about the outlook [for the availability of finance]. Finance is still difficult to get, and sentiment in the residential property space is very negative. This primarily reflects the price outlook, which has fallen further in New South Wales and Victoria.David Plank, Head of Australian Economics - ANZ.