Residential property market helps drive sentiment high
Results from the latest Property Council-ANZ Property Industry Confidence survey have shown the ...
Results from the latest Property Council-ANZ Property Industry Confidence survey have shown the confidence index for the June 2013 quarter is now up to 124.
It is up from 107 recorded in the previous quarter, while a score of 100 is considered neutral.
These figures put the sentiment in the property market at an 18 month high, and are led by price growth expectations in residential property, and in the number of residential construction projects.
"This improved outlook is led by record confidence in the residential sector, and project funding expectations which are now positive for the first time," explained Property Council chief operating officer Ken Morrison.
New South Wales, Victoria, Western Australia and Queensland recorded the largest sentiment improvements, with NSW showing the greatest improvement in the country.
Almost 1000 (997) of the 3100 survey respondents were from NSW, and all were from the property or construction sectors.
Property Council NSW executive director Glenn Byres said: "There are also strong expectations for an increase in staffing levels and forward work schedules across the industry."
Confidence in the property market is important for anyone considering property investment, and should be taken into account when buying or selling a house.