The NSW 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.
“Confidence is up, and NSW is leading the nation with 73 per cent of respondents expecting COVID-19 impacts to improve and ease over the next 90 days,” Mr Achterstraat said.
“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 hotels, 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.
“The results are a reminder of the importance of prioritising planning reform that drives productivity and delivers for the state,” he said.
“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.
“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,” he said.
