Despite a decline in sentiment, the Northern Territory's property and construction sector remains the most confident in the country, according to new research.
The Property Council of Australia-ANZ Property Industry Confidence Survey shows sentiment moved to 151 on the index for the September quarter, down from 159 for the June quarter.
By comparison Australia's index score was 106 for the September quarter, down from 113 for the June quarter.
The survey polled more than 3100 professionals from the property and construction sector in all states and territories for their forward-looking views.
Property Council NT President, Brendan Dunn, says the turn-around in sentiment is consistent with the rest of the country, although it is the first time sentiment has trended downward for the Territory since the survey began 12 months ago.
"Although the Northern Territory remains the most positive outlook in Australia, confidence in the Territory's economic growth has taken a battering since the previous survey,” Mr Dunn says.
Key NT findings for the Property Council of Australia-ANZ Property Industry Confidence Survey are:
staffing levels down: the NT recorded the biggest drop in expectations for future staffing levels, but remains the strongest in Australia. Staffing level expectations moved from a net balance score of 132 points on the index to 121 points. The Australian total is 104 points
forward work down slightly: expectations for forward work declined slightly over the period, from a net balance of 167 on the index to 160. The Australian total is 124
national economic growth still positive: NT respondents are the only ones in Australia to retain a positive outlook for the nation's economic growth, although this measure dropped from a net balance of 106 on the index to 101, which is only marginally positive
positive outlook for NT economic growth: NT respondents have the most confident outlook for their state or territory's growth. However, the score for this dropped dramatically over the period, from 182 to 161 net balance on the index
ANZ Head of Property Research, Paul Braddick, says the Survey result for the Northern Territory "reflects a positive economic outlook, underpinned by the economic benefits from the $34 billion Itchys gas project to demand for labour, property market returns and household income through 2012."
Brendan Dunn, Property Council of Australia NT President
Ph: 0418 898 855
Paul Braddick, Head of Property Research, ANZ
Ph: 03 8655 3022