- Data was gathered just before the current Bondi outbreak
- Industry confidence remained at 145 points - 100 is considered neutral
- Calls to focus on boosting supply and reactivating CBD's
In data gathered before the current outbreak, it was revealed that property confidence levels in New South Wales remained steady over the past quarter.
The Property Council of Australia (PCA) survey, done in conjunction with ANZ, also showed that confidence within the industry would be critical when rebounding from the current outbreaks.
In NSW, industry confidence remained at 145 points – a score of 100 is considered neutral.
For the second consecutive quarter, both housing supply and affordability remained the most critical issues for both the federal and state governments.
Lauren Conceicao, NSW Acting Executive Director, said despite the recent lockdown, the property industry remained confident in the NSW Government’s handling of the pandemic – including supporting businesses and the community.
“The property industry has played a critical part in supporting the economic recovery of the state since the COVID-19 pandemic commenced, and this will continue as NSW bounces back from current lockdowns,” Ms Conceicao said.
“Housing supply and affordability has once again been flagged in the survey as the most critical issue for our government to address and it will be the next big challenge for the NSW Government to tackle.”
Lauren Conceicao, NSW Acting Executive Director Property Council
Ms Conceicao added that it is not the appropriate time to be complacent. She clarified the focus should remain on housing supply to prevent the next generation from being locked out of homeownership.
“Continued leadership from the NSW Government to boost productivity and move ahead with planned reforms to secure jobs and housing supply will be more important than ever.”
She added it was imperative to act on reactivating the CBDs once the lockdown concludes.
“The Sydney CBD is the economic heart of our nation and is bound to take a hit over the next couple of weeks, so a clear roadmap and robust plan on how we get our city back on its feet to recover the economy will be welcomed with open arms.”