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Property developers and owners of buildings in Canberra are more optimistic about the future of the industry than they were three months ago. But they are still cautious because of ongoing uncertainty about the course of the epidemic, according to the results of a survey conducted by their industry association. Their gloom persists for the future of offices, stores and hotels but they are more optimistic about the prospects for housing and industrial development. “Our members across the territory believe there is still a bit of a ‘wait and see approach’,” said Adina Cirson, the Property Council of Australia’s ACT director. “Members are looking towards government schemes like JobKeeper, which are slated to end in March 2020, as they wait to see if further impacts of the crisis are yet to be felt. “However, we did record the highest expectations in the nation in terms of forward work schedules and willingness to employ more staff has lifted back into positive territory over the quarter. “Access to debt expectations have lifted, as has territory economic growth, slightly improving from last quarter.” “However, 58 per cent of survey respondents in the ACT expect conditions will not improve or will get worse in the next three months. “This is unchanged since the last quarter. “Only 42 per cent of respondents expected things to improve, compared to the national average of 70 per cent. “Unfortunately, it seems that uncertainty will continue well into the New Year, until we start to see in more positive sentiment for the office, retail and hotel markets, although positive lifts in the housing, industrial and retirement living have buoyed the sector.” Eighty per cent of developers felt the HomeBuilder grant was helping their business. But they were in favour of easier planning regulation and lower taxes.
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Property developers and owners of buildings in Canberra are more optimistic about the future of the industry than they were three months ago.
But they are still cautious because of ongoing uncertainty about the course of the epidemic, according to the results of a survey conducted by their industry association.
Their gloom persists for the future of offices, stores and hotels but they are more optimistic about the prospects for housing and industrial development.
“Our members across the territory believe there is still a bit of a ‘wait and see approach’,” said Adina Cirson, the Property Council of Australia’s ACT director.
“Members are looking towards government schemes like JobKeeper, which are slated to end in March 2020, as they wait to see if further impacts of the crisis are yet to be felt.
“However, we did record the highest expectations in the nation in terms of forward work schedules and willingness to employ more staff has lifted back into positive territory over the quarter.
“Access to debt expectations have lifted, as has territory economic growth, slightly improving from last quarter.”
“However, 58 per cent of survey respondents in the ACT expect conditions will not improve or will get worse in the next three months.
“This is unchanged since the last quarter.
“Only 42 per cent of respondents expected things to improve, compared to the national average of 70 per cent.
“Unfortunately, it seems that uncertainty will continue well into the New Year, until we start to see in more positive sentiment for the office, retail and hotel markets, although positive lifts in the housing, industrial and retirement living have buoyed the sector.”
Eighty per cent of developers felt the HomeBuilder grant was helping their business.
But they were in favour of easier planning regulation and lower taxes.
