Aus residential property: little sign of optimism

PHOTO: The ANZ-Property Council survey is consistent with these other indicators and suggests there will be an extended period of weakness in the housing sector.

Confidence in Australia’s housing sector has fallen further and is now at its lowest level since the survey commenced in 2011, according to the March quarter ANZ-Property Council survey.

While this is clearly a very soft result it is not surprising given the weakness evident in most other housing indicators.

“Housing prices, credit, auction results, days on market and vendor discounts are all weak.”

ANZ Research’s recent housing update noted many indicators are around their worst levels in many years. Housing prices, credit, auction results, days on market and vendor discounts are all weak. Moreover, there is little sign of improvement.