The survey, which is the largest of its type in Australia, measures the views of more than 1,000 property professionals, and provides a quarterly indicator of the industry’s confidence.
The index for the June quarter has climbed four points to 143 – the highest on record – with a score of 100 considered neutral.
Confidence rose by seven points in Queensland, increasing from 132 to 139 over the quarter. The sunshine state has seen a surge of 13 index points over the last 12 months that can be attributed to infrastructure projects such as Cross River Rail.
New South Wales
With a score of 141, NSW posted a one-point increase, up from 140 the previous quarter.
However, retail capital growth expectation is recorded at negative 3 index points and NSW is the only state with negative capital growth expectations for the sector.
Victoria, which is only one point behind South Australia, recorded a confidence score of 147, up from 145 the previous quarter. This is a historical high for Victoria.
South Australia posted a 10-point increase, rising from 138 to 148 over the quarter. The change of government has seen confidence grow with a positive outlook for the state’s economy and investment prospects, which should look to improve in the near future.
Australian Capital Territory
In the ACT, confidence rose from 137 to 144. Economic growth expectations for the ACT remain steady and in the positive.
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