Canberra's property sector is enjoying a confidence boost, with the ACT seeing the third highest climb in business sentiment in Australia, growing four points in the 12 months to June 2017.
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According to the ANZ / Property Council of Australia Survey, overall business confidence in the ACT was the second highest in the country, beaten only by NSW.
It had remained steady since about September, with other states–except NSW–seeing a growth in local business confidence.
Forward work schedules in Canberra were the highest in Australia this quarter as well as staffing level expectations, with businesses signalling interest in more projects and new staff.
Property Council's ACT executive director Adina Cirson said the property sector was driving economic growth in the city.
"This is a great sign because when the sector is confident about hiring more staff, they have confidence that their financial position and that of the broader economy will continue to improve," Ms Cirson said.
"The ACT results confirm positive expectations for our city, with growth projected in forward work schedules still the highest in Australia, which despite dipping slightly in the recent quarter have steadily gained ground over the last 12 months."
However the ACT saw the smallest growth in retail growth expectations, also signalling a dissatisfaction with the federal and territory government's management and plans for growth.
Dipping slightly since the last quarter, the ACT remained the second-most optimistic about local economic growth, with only NSW more positive about their future and Western Australia the most pessimistic.
