Property

Confidence returns to construction

The Northern Territory was the location to record the highest confidence level, reaching a score of 159.
The Northern Territory was the location to record the highest confidence level, reaching a score of 159.

A STRONG engineering construction industry is fuelling greater confidence in Australia's property sector, according to a new study.

The Property Industry Confidence Survey, released by the Property Council of Australia (PCA) in conjunction with ANZ, saw the property sector's overall outlook rise by six points in the June quarter to 113 - up from 107 points in March.

According to the report's authors Warren Hogan and Paul Braddick, commercial property emerged as one of the strongest building sectors, defying investor uncertainty and demand both domestically and globally to maintain high yields - providing a positive foundation for future growth.

"The Australian commercial property market is very well placed and remains at the early stages of a multi-year cyclical upturn in valuations," they said.

The authors asserted: "Prospects for hotel, office and industrial property remain strong."

According to PCA chief executive Peter Verwer, more than half of the quantifiable lift in sentiment was attributed to three states - Western Australia, the Northern Territory and Queensland.

The only states to decline in confidence were Victoria and Tasmania and most respondents anticipate their own future work levels will increase in the coming year.

The Northern Territory was the location to record the highest confidence level, reaching a score of 159.

A positive economic outlook combined with several large mining construction projects - including the $33 billion Itchys development - providing a significant boost.

Topics:  construction industry, hutchinson builders




The 10 habits that drive you insane on the road

Ipswich Motorway traffic at Goodna. Photo: David Nielsen / The Queensland Times

RACQ names top ten worst driving habits

Warwick is getting ready for soup, glorious soup

DELICIOUS: Warwick Potters Sue Whitton, Janis Sabur, Jan Maher, Cris Hughes, Quita Hamer and Raye Batham are busily preparing bowls for last year’s Hot Pots Soup Bowl Night.

Pumpkin, bacon and leek and the legendary bowls

Great things going on at industrial estate

The team at the St Vincents de Paul Distribution Centre.

Millions of kilos of donations

Latest deals and offers

Swimwear designer looking for love on The Bachelor

Noni Janur on her first day of filming.

The 25-year-old is one of 22 women vying for Richie Strahan’s heart

Three reasons your mind will be blown this week

Alan Dale and Jacki Weaver in a scene from the TV series Secret City.

THREE shows on Foxtel to make your mind boggle.

Elena wins MasterChef: “I’m ecstatic and eager to celebrate"

MasterChef Australia 2016 winner Elena Duggan, from Noosa.

NOOSA chefs survive marathon grand final dish by Heston Blumenthal.

Shannen Doherty shaves hair during cancer battle

Shannen Doherty has completely shaved off her hair

Brian McFadden makes daughters pay for own Christmas gifts

McFadden makes his daughters pay for half their presents

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

72-year-old Coast developer set to start new project

GREEN LIGHT: The Cosmopolitan has been approved for development at Cotton Tree.

Meet the Canberran set to deliver another chapter for Coast suburb

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd

Ecco Ripley sales run sparks prime release

MOVING IN: Sekisui House has announced the release of more residential blocks at Ecco Ripley.

Sekisui House is preparing to unveil more land at Ecco Ripley

The climb is slow but property on the way up

Michael Matusik, director of Matusik Property Insights.Photo Allan Reinikka / The Morning Bulletin

The improvement would be mild when compared to past cycles