Alan Oster, Group Chief Economist at NAB, points out that overall sentiment in Australian commercial property markets (measured by the NAB Commercial Property Index) moderated in Q2 as the Index fell 4 points to +17 but remains well above its long-term average (+3).
Key Quotes
“NAB Group Chief Economist Alan Oster said: “Lower sentiment was evident in all states except Victoria, with particularly sharp falls in both SA/NT and WA.”
“Retail sentiment was again negative as subdued retail business conditions and slow wages growth continued to hurt consumer sentiment,” said Mr Oster.
“Overall confidence in commercial property markets also softened in Q2.”
“But the recent improvement in accessing funds reversed in Q2, with more property professionals indicating that it was harder to obtain loans and equity.”
“More property professionals are now also expecting their funding conditions to worsen in next 6-12 months,” said Mr Oster.
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