The most recent ANZ-Property Council Survey showed sentiment at businesses which operate in the property sector is still relatively positive - despite falling from the last quarter. The study showed converging confidence across all states with Western Australia the big mover as belief returns in the mining states.
“I would definitely say that we've seen the peak of the cycle in terms of growth [in Sydney].” - Daniel Gradwell
They’re also pretty confident on funding rates too – again in conflict with the experts.
“Despite the solid growth outlook, it is interesting firms in the property sector are not expecting much in the way of interest rate movements this year,” ANZ head of Australian economics David Plank said of the report.
“ANZ Research is forecasting two rate hikes from the Reserve Bank around the middle of the year, as further evidence of wages growth and inflation returning to the target band flows through.”