Property Council Members continue to remain optimistic

The leading measure of confidence for the property industry, the ANZ/Property Council Survey, highlighted that Tasmanian Members continued to remain optimistic about future economic prospects.

Results for the June 2016 quarter released today had Tasmania on 147 points, down from 158 but still significantly higher than the national average of 131.

Property Council of Australia TAS Executive Director Brian Wightman said that the survey, supported by a number of other business confidence surveys highlighted the opportunity that exists in Tasmania to deliver sustained economic growth.

"Property Council Members are doing the heavy lifting in the building and construction sector, providing a significant boost to the state's economy,” Mr Wightman said.

"Forward work schedule and staffing level expectation remain positive reinforcing the view that jobs and job creation should remain at the top of the Tasmania's agenda.”

Mr. Wightman raised the ongoing concern of a two-speed economy, Hobart and the rest of the state.

"Hobart is experiencing a boom period with hotel developments dominating the city's skyline.

 "The Property Council would like to see investment occurring more evenly across the state.

"There remains a role for all levels of government to play in this space, particularly with continued advocacy required to deliver the University of Tasmania's Northern Expansion along with a united effort to improve Water and Sewerage infrastructure in Launceston," he said.

Mr. Wightman acknowledged a strong number of positive expectation measures identified in the survey suggesting continued economic growth and recovery in Tasmania.

“State economic growth expectations indicated ongoing confidence, while Hotel capital growth expectation again led the nation.

"And in a first since the survey's inception, Office capital growth was in positive territory. Industrial capital growth was in positive territory for the first time since September 2014," he said.

Mr. Wightman concluded that the state government had the opportunity to set Tasmania up for a generation and it’s the perfect time to get it done.

Media contact:  Brian Wightman |  M  0429 073 773|   E  bwightman@propertycouncil.com.au