As a supporting sponsor of the Property Council of Australia’s ANZ/Property Council Survey, we are pleased to provide RCP’s commentary in relation to the December quarter survey results recorded from over 1,350 property industry respondents.
The PCA has reported that confidence across the property sector has lifted to the highest level in four years, with all states recording a surge in confidence and a significant increase in national economic growth expectations. The majority of states also recorded an uplift in forward work schedules.
It is encouraging to see that confidence levels in Queensland and Western Australia are continuing to trend upward. RCP has experienced a significant increase in project work across multiple sectors in Queensland and is expanding its Brisbane team in order to respond to the positive movement in the property sector and increased project demand.
Expectations of construction activity over the next 12 months rose further in the December survey, with an improving outlook reported across most states and territories and segments of the property sector. The PCA has reported that the construction outlook for the aged care, industrial and office segments is the strongest since this survey began.
To view the latest survey results, please visit the Property Council of Australia website.