Property confidence at low ebb
CONFIDENCE in Queensland’s property sector has risen to its highest level for more than three years – but remains the lowest in the country.
The start of major infrastructure such as Cross River Rail has lifted sentiment, the latest industry survey shows.
But the Property Council says tax hikes introduced by the State Government have taken the edge off what could have been a major boost.
“We should be leveraging off the opportunities and developments within the region. Increasing taxes is a big economic risk,” Property Council Queensland executive director Chris Mountford said.
The ANZ/Property Council survey shows a shift in sentiment to a level not seen since the end of December 2014.
Despite that, forward work expectations over the coming year by the property sector in the Sunshine State trails NSW, Victoria, Western Australia, South Australia and the ACT.
The Property Council’s argument is undermined to some extent by other results in its own survey, which show that the proportion of residential, commercial, retail, and industrial have all increased in the past three months.