The ANZ-Property Council Survey for the September quarter shows that sentiment in Australia’s property sector worsened from last quarter’s record peak. The fall occurred across most states and territories, with only Queensland and South Australia recording mild increases. The latter has continued its impressive run and is now the country’s most optimistic region.
The fall in sentiment is entirely due to the residential segment. In a sharp reversal from the stabilisation of previous quarters, the outlook for capital values in residential property has deteriorated markedly. Staffing levels, construction activity and the forward work schedule are all expected to ease in the residential space.
The full text of this article is available to MacroBusiness subscribers
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
