Queensland’s confidence remains constant
Confidence levels across Queensland’s property industry remain fairly constant, with only small variations in business confidence levels since last quarter, according to the latest ANZ/Property Council Survey.
Overall confidence in Queensland has risen by only one index point since last quarter, reflecting a generally stable view of most factors which drive sentiment across the industry, says the Property Council’s Queensland Executive Director, Chris Mountford.
“In the previous 12 months, the Queensland property industry has experienced a period of change and uncertainty, with increases to land tax and foreign investor taxes set to take effect from 1 July,” said Mr Mountford.
“The dramatic tax increases, imposed on an industry that already pays 53.7% of Queensland taxes, is certainly a factor holding back stronger gains in sentiment.
“Capital growth expectations across the retail, office and the tourism sectors are relatively unchanged since last quarter, while staffing level expectations have risen by a little over one index point.
“The one big change in confidence seen in this quarter appears in the industrial sector, which has climbed seven index points.
“There is growing appetite for logistics and warehousing. In recent months we have seen an uplift in projects been delivered to meet this demand.
“In order for industry confidence to increase across the board, there needs to be a greater focus from the State Government on actions that unlock activity and build confidence. Meaningful tax reform needs to be on the agenda for this to occur, as does action to unlock underutilised government land holdings.” explained Mr Mountford.
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Media contact: Chris Mountford | M 0408 469 734 | E [email protected]