Property confidence hits record high in SA
A record high level of property sector confidence has been delivered for the second consecutive quarter in South Australia – the highest result of any Australian state or territory.
According to the latest ANZ/Property Council Survey, statewide confidence in South Australia sits at 149 for the September 2018 quarter. Almost 1000 professionals across the country participated.
“This is great news for the property sector and economy, confirming that last quarter’s increase was the start of a trend instead of an anomaly,” said Property Council Acting SA Executive Director Torie Brown. “Confidence levels are 31 points above South Australia’s historic average, setting a new national benchmark.
“It seems like South Australia’s economy is responding to growth in the defence sector and a renewed focus on future industries including space and high-tech manufacturing.
“State economic growth expectations are also significantly higher than the rest of Australia.
“When it comes to the property sector, it seems that South Australians are now the most optimistic people in the country.
“Confidence in the South Australian Government to manage the economy is also in positive territory for the second consecutive quarter – the first time this has happened in the history of the survey.
“It seems that South Australia’s post-election momentum is continuing to build.”
Other findings from the survey include:
- Expectations around forward work schedules have increased again on last quarter and are now the highest in the nation.
- Construction activity levels in the industrial, retail, retirement living and hotel sectors are expected to lift over the next 12 months.
- National economic growth expectations are higher in South Australia than any other jurisdiction – sitting at 27 points versus the Australia-wide average of 9.1.
- Staffing level expectations in South Australia over the next twelve months have risen on last quarter and remain consistent with national expectations.
- South Australians have more confidence in their government to plan and manage for growth than any other state – sitting a full 19 points above the national average.
Confidence Index September Quarter 2018
Historical state economic growth expectations
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Property Council’s Data Room
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Torie Brown | M 0422 608 804 | E [email protected]