Rebuilding confidence in NSW property investment markets
Commercial activity and economic momentum are two key factors in measuring the potential of residential property across a broad area - with favourable activity indicating that more people are likely to be interesting in living in a certain region.
However, this notion is offset by the fact that people can be quite particular when it comes to choosing a location to make their home - as glowing market statistics may not be enough to entice further real estate investment.
However, in this regard New South Wales seems to be gaining momentum - with a market report showing an increase in market sentiment.
According to the Property Industry Confidence Survey conducted jointly by the Property Council of Australia (PCA) and ANZ, the measurable index has risen from 105 points to 113 over the March quarter.
Speaking on the findings, PCA acting executive director for NSW Edward Palmisano said he was pleased by the findings and said that they reflected the state's strong performance overcoming previous concerns over shaky international markets.
Mr Palmisano asserted: "The survey points to a gradual increase in confidence in NSW, as the acute concerns over global economic conditions soften."