Confidence boost in Sth Australia

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Confidence levels in the South Australian property market have rebounded according to a leading indicator of business sentiment.

The Property Council/ANZ Property Industry Confidence Survey‘s leading index for the second quarter of 2014 jumped four points to 114, the second highest level since the survey’s inception in 2011.

“The property industry confidence index in South Australia is still 16 index points less than the peak at the start of the year, however we have returned to growth,” said Property Council Acting Executive Director Lino Iacomella.

“This is a leading index and we expect the real activity in the industry to actually pick up later in the year, probably in the lead-up to Christmas. The recovery is largely based on expectations of continuing low interest rates, and the likely boost this will provide the land development and housing construction sectors,” he added.






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