World News – AU – ACT Real Estate Sector Confidence Rises, But Uncertainty Still Looms


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The most recent survey by the ANZ / Property Council found that the confidence of the ACT real estate industry rose in the December 2020 quarter. However, there is still uncertainty about how the recession caused by COVID-19 will continue to affect the real estate industry in early 2021, particularly the office, retail and hotel markets.

The trust of the real estate industry as a whole has increased by a promising 44 index points from 81 to 125. A score of 100 is considered neutral. The national confidence index rose from 82 to 123 points in December 2020.

“Our members across the Territory believe that there is still a certain ‘wait and see’ approach. . Members look to government programs like JobKeeper, which are expected to end in March 2020, and wait to see if any further effects of the crisis can be felt, ”said Adina Cirson, ACT Executive Director of Property Council.

« However, we have had the highest expectations for forward work plans in the nation and the willingness to employ more people returned to positive territory during the quarter. Access to debt expectations, as well as economic growth in the territory, improved slightly compared to the last quarter.

« However, 58 percent of ACT respondents expect conditions will not improve or worsen over the next three months – unchanged since the last quarter. Only 42 percent of those questioned expected an improvement compared to the national average of 70 percent.

« Unfortunately, uncertainty seems to linger well into the new year until we see more positive sentiment for the office, retail and hotel markets, even though positive upswings in the residential, industrial and retirement sectors have spurred life on the sector » said Mrs. Cirson.

Expectations have been fueled by the positive impact the sector has had with the launch of the HomeBuilder grant. Almost 80% of developers working in the residential sector believe that this is having a positive effect on their businesses and why this is pleasing to see that the extension and expansion of the start of construction to 6 months.

Property taxes and fees, planning and regulation, and affordability of housing are identified across the country as the most critical issues that state governments must address. Now that the ACT election is behind us, the sector is looking for real action from the EU ACT government on these fronts. The Property Council of Australia was delighted with the release of the plan review and reform discussion papers, and ACT Treasury asked us what stimulus measures are still needed ahead of the February budget.

“Our industry is an important prerequisite for getting out of this crisis quickly on the other hand. The role we can play in job creation should not be underestimated. It remains vital to ensure that we have a solid pipeline of construction projects and that projects are approved within legal deadlines and we will continue to advocate these issues on behalf of our members in the New Year, ”concluded Ms. Cirson.

Index points – third highest trust in the country

Click here to display selected historical data series from the ANZ / Property Council Survey in the Property Council’s data room.

Real Estate, Housing, Trust

World News – AU – ACT Real Estate Sector Trust is rising, but uncertainty still looms
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