The latest ANZ/Property Council Survey has shown that as South Australia’s property industry continues to gain confidence, the ACT industry’s confidence levels have plummeted.
The ACT’s overall property industry confidence has dropped by 13 index points from 94 to 81, while South Australia sits at 98 points for the December 2020 quarter, lifting 12 points since last quarter.
A score of 100 is considered neutral, while the national average is 82.
“Our members across the Territory are telling us their greatest concern is the impacts of the crisis are yet to be felt,” the Property Council’s ACT Executive Director, Adina Cirson said.
“Unfortunately that uncertainty will continue as long as restrictions across the city remain in place, despite months of no new cases.
“Forward work schedule expectations for the next 12 months have dipped into the negative after the previous quarter showed positive signs.
“Similarly, concern about the construction pipeline is impacting the ability to increase staffing levels, which has also slipped into the negative.
“Access to debt and interest rate expectations remain in the negative, as does Territory economic growth, although slightly improving from last quarter.”
South Australia’s industry confidence has risen over two consecutive quarters, having increased by 38 points (or 62 per cent) since the June quarter.
“It’s going to take some time to return to pre-COVID confidence levels, but the current trajectory gives reason for cautious optimism,” Property Council SA Executive Director, Daniel Gannon said.
“However, government decision-makers must continue to work with the sector to ensure that property and business owners survive 2020.
“Over the past quarter, we’ve learned a lot about business innovation and organisational nimbleness.
“Here in South Australia we are comparatively safe, healthy and resilient, we’re getting back to business and reopening our economy as confidence continues north.
“This dataset also reveals that South Australians have great confidence in the State Government managing and planning growth during a global crisis, and it’s significantly stronger than the national trend.”