Concern about declining demand for office space and domestic economic conditions are suppressing confidence in the ACT property industry.
The latest Property Council/ANZ Property Industry Confidence Survey shows a shift in sentiment from 94 on the index for the September 2013 quarter to 99 for the December 2013 quarter. A score of 100 on the index is considered neutral.
Property Council ACT Executive Director, Catherine Carter, says the latest survey shows ACT continued to have the lowest sentiment of any mainland state or territory, though this had improved marginally from the September 2013 quarter.
“Despite a small improvement in industry confidence, the December Quarter survey shows a negative outlook for the industry.”