Property sector confidence skyrockets as industry backs Marshall Government to deliver

The Marshall Government has welcomed the latest ANZ/Property Council of Australia survey of property sector professionals – including developers, landlords, architects, planners and engineers – showing confidence in SA has soared to pre-pandemic levels.

The survey, taken in the two weeks from November 16 and including the 3-day circuit-breaker, shows local confidence has rebounded to 128 points for the December 2020 quarter – up 30 points on the previous quarter to reach its highest level since June, last year.

And confidence in the State Government to manage and plan growth has surged to a record high, while SA outperforms all other states and territories for staffing level expectations over the next 12 months.

Treasurer Rob Lucas welcomed the survey of more than 800 national Property Council members as another positive sign of SA’s ongoing economic recovery from COVID-19, and a huge vote of confidence in the Marshall Government to deliver.

“The Property sector is a critical industry for SA, employing thousands of South Australians – from developers and landlords to local engineers, architects and planners,” said Mr Lucas.

“Surging confidence among this group, despite the survey being conducted during the 3-day circuit breaker, is a pleasing sign and bodes well for SA’s ongoing economic recovery and jobs.

“The Marshall Government is doing everything in its power to save as many jobs and businesses as possible during this challenging time, investing a record $4 billion in economic stimulus – including significant payroll tax and land tax relief.”

In addition to the Government’s historic land tax reforms, which are delivering more than $200 million in land tax savings to 92 per cent of mum and dad non-trust investors and 75 per cent of company groups over the next 3 years, eligible commercial and residential landlords impacted by COVID-19 can apply for land tax relief.

Eligible residential and non-residential landlords can receive up to a 50 per cent reduction on their 2019-20 land tax liability on affected properties, where they have provided relief to affected tenants or lost rental income due to a vacancy.

Last month, the latest Bank SA State Monitor revealed the biggest bounce in business confidence since the survey started 23 years ago (rising by 20.3 points to 125.6).

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