Industry confidence fell in the September 2016 quarter according to the ANZ/Property Council Survey but the ACT continues to perform above the national average, according to the council’s ACT executive director Merlin Kong.
“The ACT currently ranks third nationally in business confidence along with South Australia, and this is in a quarter where almost all jurisdictions, with the exception of Victoria and South Australia experienced downgrades in business confidence,” Kong said.
“The long-term confidence index shows the ACT continuing to trend upwards, and coming off last quarter’s 19 point increase in business sentiment over 12 months, we’re most likely seeing a period of market adjustment.
“Fundamentals are strong at the moment, with forward work schedule expectations continuing to be one of the strongest in the country, and staffing level expectations increasing significantly from last quarter.
“It’s worth noting that aside from NSW, the ACT was the only other jurisdiction recording an increase in state government performance index.
“Still, there is room for improvement, and issues such as mixed use development reforms, city activation, and urban renewal are intersections where government and industry can work constructively together to come up with good outcomes for the community.
“These latest survey figures further show industry’s shared vision for our city.
“However, there needs to be better tax alignment to ensure that investments are viable and planning certainty that allow for projects to be delivered on-time and on-concept.”