Confidence survey results show Tasmania slipping behind

The Property Council has expressed concern following the results of the Property Council/ANZ Property
Industry Confidence Survey of approximately 2,600 property industry representatives.

The March quarter survey, which is the largest of its kind in Australia, shows Tasmania’s property
industry confidence has fallen back two points to sit at 121 points*.

Property Council Tasmanian Executive Director, Mary Massina, said while the overall confidence
sentiment remained positive, Tasmanian respondents’ sentiments were in stark contrast to what is
happening nationally.

“Nationally, the property industry has hit an all time high, with confidence up eight points to 140 points,
the first time in two years, whereas Tasmania is now sitting third from the bottom,” Ms Massina said.

“Staffing levels for the last three months are a clear indication that the industry is struggling. Tasmania
has gone backwards to negative 4.7 points, whereas nationally this index sits at positive 5.7 points.

“This result highlights what the Tasmanian property industry knows – jobs are haemorrhaging from the
industry.”

Ms Massina said looking forward over the next 12 months Tasmania shows a drop in staffing level
expectations and in contrast, the national staffing levels sit at 18 points, a jump of five points to the
highest point in four quarters.

“Tasmanian forward work schedule expectations have also taken a hit, with a drop of 17 points from the
December survey results to sit at 27 points, which again is in contrast to the national figure of 47
points,” she said.

“The drop in staffing level and forward work expectations underscores the results for Tasmania’s
economic growth change index, which looks at the past three months. Respondents’ sentiments see
Tasmania plunge to minus 54.1 points, which is an unfortunate record for the survey. Even looking
forward 12 months, economic growth is still expected to be weak.

“Respondents to the survey have continued to mark the State Government’s performance as poor, with
a ninth drop in confidence to a record minus 82 points, a decrease of 15 points on the December
quarter figures in the Government’s ability to manage planning and growth.

“These figures are disappointing given the positive December quarter survey results and really lay out
the industry’s road map for the election.”

ANZ Head of Property Research, Paul Braddick, said Tasmanian property sentiment declined marginally
in the March quarter but remained positive.

“The broader Tasmanian economy remains mired in recessionary conditions, and in trend terms, the
proxy of economic output has contracted for nine consecutive quarters. The weakness has been broadly
based, with the household, business and public sectors all detracting from growth in recent quarters,”
Mr Braddick said.

* A score of 100 is considered neutral.

Full results are available at: www.propertyoz.com.au/confidence
Property Council Tasmanian Executive Director, Mary Massina