Marginal increase in confidence for Queensland
QUEENSLAND experienced a marginal increase in confidence over the last quarter, according to the latest survey of Australia's property industry.
Queensland improved two points this quarter to 132 on the confidence index, two points above the national average, and well above a score of 100 which is considered neutral.
Over 2,200 respondents across the country participated in the ANZ/ Property Council survey.
Queensland Executive Director of the Property Council, Chris Mountford, said the result was encouraging but there was plenty of room for improvement.
"Queensland's property industry confidence remains in-line with the national average, but there is daylight between us and New South Wales," Mr Mountford said.
"With a 12 point gap in confidence levels between Queensland and New South Wales, it is clear that more needs to be done in Queensland to achieve favourable regulatory settings."
The State Government has committed to the delivery of several key economic initiatives.
New planning legislation, a new SEQ regional plan and a new State Infrastructure Plan have all been promised in the next six months.
"The Governments' success in delivering these key strategic initiatives will shape industry confidence over the next few quarters," Mr Mountford said.
"Given that property is Queensland's biggest industry, providing 240,000 jobs across the State, these reforms must be priorities 1, 2 and 3 for the Government."
"A more confident property industry will translate directly into more jobs, greater prosperity and stronger communities right across Queensland."