A SURVEY of sentiment in Western Australia’s property industry has revealed a rebound despite uneasiness about the health of the state’s economy and the resources sector.
For the first time, WA’s score in the Property Council of Australia – ANZ Property Industry Confidence Survey has risen to equal top spot, with the Northern Territory.
The survey’s index score for WA rose by 11 points for the March 2013 quarter, to 131. A score of 100 indicates a neutral outlook for the industry.
ANZ head of property research Paul Braddick said the outlook for WA’s property and construction sector was positive.
“Despite a softer outlook for WA mining infrastructure spending in recent months, the economic benefits of committed infrastructure spending and tight market fundamentals should drive solid growth in building construction in 2013,” Mr Braddick said in a statement.
“The survey results show this positive outlook has driven an optimistic outlook for building activity, with most respondents expecting residential, commercial office, industrial property and tourism construction to increase in the next year.”
WA was the only state in the survey to record a positive score on the ‘government performance index,’ which asks respondents whether they believe the state government is doing a “good job of planning and managing growth”.
