Confidence has fallen in the ACT property industry and the sector fears the impacts of the coronavirus crisis have yet to be felt, a new survey has shown.
The quarterly ANZ/Property Council survey found the confidence index, which measures property industry sentiment, fell by 13 points over the quarter to 81. A score of 100 is considered neutral.
A majority of ACT survey respondents, 58 per cent, expected conditions could either not improve or worsen.
Property Council ACT executive director Adina Cirson said members of the council feared the impacts of the COVID-19-induced recession had yet to be fully felt in Canberra.
She said she felt the uncertainty would continue as restrictions remained in place, despite months of no new cases.
The survey measured 10 economic indicators, including forward work schedules, house capital growth, staffing levels and economic growth. The ACT recorded declines in all but two of the indicators.
"The last time many of these indicators slipped into the negative was at the beginning of the pandemic and the lockdown. It is concerning the outlook continues to be negative many months later despite no community transmission in the ACT," Ms Cirson said.
"Some sectors have been hit harder than others, with hotels and tourism being hit hardest, followed by retail and commercial office markets all slipping further into the negatives."
Nationally, sentiment in the industry had actually increased, with the confidence index rising by six points to 82. Across the nation, 51 per cent of respondents said they expected conditions would improve.