The Property Sector posted its highest level, increasing by 8 points from the same time last year, according to the ANZ Property Industry Confidence Index. Capital values and construction is expected to increase, further benefiting the residential sector.
According to Property Council of Australia chief executive Peter Verwer, the boost in this sector is going to be a huge factor, as property and construction employs more people than any other industry and it provides a major contribution to the country’s GDP. The key is to create more jobs to further increase overall economic growth.
Read more about this on the Property Observer website.