Confidence is rising across the property industry, buoyed by a sharp jump in sentiment in Western Australia after the state election and stronger commodity prices.
Across the country, the measure of con dence rose to its highest level since 2014 at 135, up from 132 three months ago, according to the most recent quarterly ANZ/Property Council survey.
Despite its improvement, WA reported the lowest level of con dence in the country, while NSW was the most con dent state.
The survey suggests residential property values are likely to keep rising. Survey participants in each state expected faster capital growth over the next year than they did when surveyed three months earlier – except in WA, where values were still tipped to fall, but less sharply.