PROPERTY INDUSTRY CONFIDENCE GROWING IN QUEENSLAND POST MINING BOOM, BUT LAGS BEHIND OTHER STATES

Written on the 12 January 2017 by Business News Australia

PROPERTY INDUSTRY CONFIDENCE GROWING IN QUEENSLAND POST MINING BOOM, BUT LAGS BEHIND OTHER STATES

QUEEENSLAND's property industry has growing optimism about the year ahead, but the confidence of the state's largest industry still lags behind the other major states according to the latest quarterly ANZ/Property Council industry sentiment survey.

Property Council Queensland Executive Director, Chris Mountford, says the results reflect the industry's warm reception to recent policy announcements but has called on the State Government to deliver further positive news in 2017.

"The property industry is one of the few areas of the Queensland economy that is currently creating jobs," says Mountford. "As the Government heads into a likely election year, there is a clear need for further Government action to increase Queensland's competitiveness as an investment destination."

Property industry confidence in Queensland rose three index points over the last quarter, yet remains well behind all Australian states apart from Western Australia. Queensland now has a confidence index score of 123, while Victoria remained steady at 139 and NSW has extended its national lead - jumping to 149 index points.

"While overall confidence in Queensland has increased, staffing level expectations continue to decline," says Mountford.

"This should send a clear message to the Government that they need to sharpen their focus on further initiatives to support job creation opportunities.

Mountford says the South East Queensland Regional Plan, to be released early next year, is an opportunity to close the gap on the high-confidence states.

"South East Queensland needs a regional land-use plan that not only caters for the area's future growth in a theoretical sense, but is coupled with initiatives to ensure it is implemented by local governments on the ground," he says.

Business News Australia

 
Author: Business News Australia

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