NSW Confidence Steady, Budget Moves Must Deliver

The latest Property Council / Procore quarterly snapshot shows steady confidence across NSW's property and construction sector - but warns that without urgent progress on planning, feasibility and delivery, housing targets will remain out of reach.

Property Council NSW Executive Director Katie Stevenson said the survey was conducted before last week's NSW Budget, which responded to key industry asks to unlock finance, fast-track approvals and boost delivery capability.

"The survey findings show a sector willing to invest, hire and build - but government must match that energy with settings that support project feasibility and timely approvals. That's where last week's Budget took some important early steps," Ms Stevenson said.

"This is an industry ready to invest and build. The NSW Budget backed in some critical reforms, but delivery is where the rubber hits the road.

"The new finance guarantee and permanent build-to-rent tax concessions are smart, targeted moves that show government is listening. Now we need that same urgency applied to approvals, infrastructure and enabling works.

"Confidence only converts to homes when the system works. Right now, it's not moving fast enough to meet demand," Ms Stevenson said.

Ms Stevenson said Tuesday marked 12 months since the National Housing Accord came into effect, with NSW still falling short of its share of the target by around 40 per cent in the first year.

This survey confirms the appetite is there - but unless we address productivity barriers in planning, tax and infrastructure delivery, we won't unlock the new homes our state needs."

The Property Council / Procore survey for the June 2025 quarter shows:

  • Staffing expectations have lifted again, up from +12 to +14.
  • Capital growth expectations remain strongest in the residential and industrial sectors, with residential climbing to +56 and industrial holding strong at +19.
  • Debt finance availability expectations rose slightly, from +15 to +17.
  • Retail and office capital growth expectations declined, while state government performance remains flat at 0.
  • Forward work expectations fell sharply from +50 to +37 - suggesting growing concern about the future project pipeline.

"We've got a bold new finance scheme, new investment levers, and overdue planning reforms. Let's not waste them. It's time to double down on delivery," Ms Stevenson said.

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