On a national level, the Confidence Index increased six points from last quarter to 120 index points. A score of 100 in the Confidence Index in considered neutral.
However, on a state level, all eyes are on housing. An overwhelming number of respondents from NSW said housing supply was the most critical issue for both Federal and State Government – 44 per cent and 40 per cent respectively.
“Considering this survey targeted a full cross-section of property professionals – from private investors to developers to service providers and both public and private institutions – this is an unmistakable sign that concerns around housing have reached every corner, every shadow of our industry,” said Katie Stevenson, Property Council of Australia NSW Executive Director.
“This should be a clear warning to the NSW Government that we are watching, and we are urging them to use every tool at their disposal to get on top of this housing supply and affordability crisis.
“We are all of us united in our determination to up the game on housing delivery.”
Despite the narrative of an overwhelming shared concern, survey respondents were increasingly positive about an uptick in business. Staffing level expectations almost doubled since last quarter, with 15.8 per cent of respondents expecting to grow their personnel over the next 12 months compared with 8.8 per cent last quarter.
An even higher number of respondents – 40.6 per cent – expected their forward work schedules to grow, compared to 24.6 per cent in the last reporting period. This is the first time this metric has met or exceeded the historical average since September 2022.
“It is pleasing the see a growing confidence in the property sector, even despite construction activity for the residential sector remaining far below where it needs to be,” said Ms Stevenson.
“If we are to get on the right track, the government needs to remove as many planning, regulatory, and tax barriers as possible. Only then will we reach a place where any confidence in achieving our Housing Accord targets is warranted.”
