Property con­fi­dence at low ebb

The Courier-Mail - - NEWS - DARYL PASS­MORE

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.

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