REINSW  

SEARCH

 Click to Search
   MEMBER LOGIN Username    Password  Remember me Click to Login Forgotten password?  About REINSW  Contact Us   
:: MEDIA RELEASES
Click to print page
bullet
Property industry confidence falls in NSW
Released 19 January 2012



The NSW and Victorian property markets have been stranded by declining confidence, while resource-driven states are increasingly positive, according to new research from the Property Council of Australia and ANZ.     

The latest Property Council-ANZ Property Industry Confidence Survey, shows positive sentiment grew in the Northern Territory, Western Australia, Queensland and South Australia – all states with a strong resources base.

However, sentiment fell in New South Wales and Victoria – the states with the largest property markets – as well as the ACT and Tasmania.
The survey polled 2800 property industry professionals across all Australian states and territories in December 2011.

It found confidence across Australia rose slightly in the three months to December, from 104 to 107 on the survey index. A value of 100 represents a neutral position on the index.

Since September, the divergence in confidence between the top region (Northern Territory) and the lowest (Tasmania) has almost doubled.

Property Council Chief Executive Peter Verwer said overall, property professionals have a reasonably positive view of the sector’s short-term future.

“However, it is clear that Europe's debt woes, a slow recovery in the US and disappointment in Australia’s political leadership are making property participants nervous about Australia's economic prospects,” he said.

“Of particular concern for property players is NSW. While it is too early to say that investors have placed the state on ‘credit watch’, almost a year into a new government it is clear there is a growing disillusionment in the state’s rate of progress.”