property-bounceback
Image – Canva
  • A jump in the confidence index in the last quarter (from 126 to 145)
  • “The report also found the sector’s staffing and forward work expectations in NSW have lifted," said Property Council NSW executive director
  • However there still will be challenges, found the survey

The New South Wales property sector is bouncing back with increased confidence, higher staffing expectations and increased economic growth expectations, according to the latest ANZ/Property Council survey.

Property Council NSW executive director Luke Achterstraat said the jump in the confidence index for NSW (126 to 145 index points) in the last quarter shows the state’s economy has been resilient and is on an upward trajectory.

ANZ/Property Council Survey

confidence-index
Source: ANZ/Property Council Survey, December 2021

“The report also found the sector’s staffing and forward work expectations in NSW have lifted, as have capital growth expectations in retirement living and hostels, so the sentiment is overwhelmingly positive as we head into an economic recovery in 2022.”

Mr Achterstraat said NSW would still face challenges next year.

Over the next three months what impact will the COVID-19 outbreak have on your business?

covid-19-impacts
Source: ANZ/Property Council Survey, December 2021

“The results are a reminder of the importance of prioritising planning reform that drives productivity and delivers for the state.

“We will also have to throw everything at rebooting our CBDs given our most impacted sectors hotels, commercial offices and shopping centres are also the beating heart of any CBD.”

Mr Achterstraat said The Property Council looks forward to continuing to work with all levels of government, the business community, and community groups to bringing our city back to life.

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