Property market confidence on the rise
Confidence is an important indicator of how different markets may perform in the future. After all, if buyers and sellers aren't feeling good about the real estate market, chances are they won't be keen to enter it.
Fortunately, the latest Property Council/ANZ Property Industry Confidence Survey showed that confidence in the Australian property market for the June quarter was high across most of the nation.
New South Wales was the winner for the highest level of confidence.
"The NSW property industry is enjoying a real moment in the sun," Property Council NSW executive director Glenn Byres said in a 17 April press release.
"It now leads all other states and territories on sentiment – and is helping to turbo-charge the state economy."
However, NSW is far from the only region showing strength. Data shows the Northern Territory posted a confidence level of 124 for the June quarter, 24 points above the neutral level of 100. This also represented a five-point rise from the March quarter.
Whether you're looking at industrial property in Woolner or office space in Winnellie, rising confidence in NT bodes well for future investment in local real estate.