Property industry confidence highest in years

Advertisement
ScreenHunter_06 May. 13 11.32

By Leith van Onselen

ANZ Bank has today released its quarterly property industry survey, which gauges the views of around 3,000 property industry professionals. This quarter’s survey revealed bouyant expectations for house price growth, the avialability of finance, and property construction.

Overall confidence amongst industry professionals is the highest in more than two years, with all jursidictions except the ACT reporting positive confidence:

ScreenHunter_34 Oct. 17 09.12
Advertisement

Respondents increased their growth outlook for the Australian economy, with “Australian economic growth [expected] to accelerate in the year ahead underpinned by low interest rates and improved debt finance availability”:

ScreenHunter_35 Oct. 17 09.16

Unsurprisingly, the industry expects higher house prices and a positive outlook for dwelling construction in the year ahead, although the commercial construction sector will remain soft:

Advertisement
ScreenHunter_36 Oct. 17 09.20
ScreenHunter_37 Oct. 17 09.21

The property industry also expects the availability of credit to improve:

Advertisement
ScreenHunter_38 Oct. 17 09.23

Full report available here.

About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.