SA confidence treads water as policy reform awaits
Confidence across South Australia’s property sector is treading water, according to the latest quarterly ANZ/Property Council Survey of more than 1,700 industry professionals nationwide.
Statewide confidence remained steady at 133 for the September 2017 quarter. A score of 100 is considered neutral.
“Confidence levels are at their equal highest on record and essentially on par with the national average,” said Property Council SA Executive Director Daniel Gannon.
“However, this survey was undertaken in the days leading up to the State Budget when two new taxes were announced and if there is an impact on sentiment it is not yet known.
“These results are best described as a mixed bag, with quarterly uplifts in forward work schedules, staffing level expectations, house and office capital growth expectations.
“While the South Australian industry is expecting a lift in residential, office, retail and retirement living construction activity levels, it is not overly optimistic about the state economy or the Government’s management of it.
“One way to address this deficit would be to undertake a significant shift in policy direction and embrace opportunities like local government reform, meaningful tax reform and a strengthening of our state’s population growth rate.”
Property is South Australia’s largest private sector employer and biggest industry, accounting for 10.8% of the state’s economic activity (or $10.5 billion).
It builds prosperity by paying $4.4 billion in wages and salaries – one in six people draw their wage directly or indirectly from property – and one million South Australians have a stake in property through their super funds.
Property is the largest single industry contributor paying 56.6% of state taxes, local government rates, fees and charges.
Daniel Gannon |M 0421 374 363 |E [email protected]
To find out more about the ANZ/Property Council Survey and our Supporting Sponsor RCP, visit www.propertycouncil.com.au/confidence