Confidence in the prospects of Canberra's property sector has rebounded from a record low earlier this year, a new survey has shown.
But sentiment continues to track far below pre-coronavirus levels, prompting the ACT Property Council to caution the sector is still suffering from the ongoing economic crisis.
The latest quarterly ANZ/Property Council survey, published on Thursday, showed that overall confidence in the ACT market had climbed from 64 points - the lowest on record - to 94 points. That is the highest score of any state or territory.
A score of 100 points is considered neutral. The ACT reached a peak of 144 points last December.
The survey showed the sector was now more positive about the future pipeline of work, which has been a major source of concern throughout the pandemic. The local industry is also more upbeat about the performance of the ACT government and staffing levels.
ACT Property Council executive director Adina Cirson welcomed the results, saying it was "good to see that there has been an uplift in sentiment and see that there is a positive light" after a challenging year for the sector and wider economy.
But Ms Cirson said the overall sentiment was still tracking well below expectations set prior to the pandemic.
All parts of the industry would be worse off as a result of the crisis, she said, with the hotel and tourism-related markets the hardest hit, followed by retail and commercial.
Ms Cirson again highlighted the pressing need for the ACT government to support the sector through the crisis, reaffirming the importance of the construction industry to the capital's economic recovery.
The Barr government has rolled out a number of policies to keep the industry ticking over amid the pandemic, including fast-tracking suburban infrastructure projects, waiving stamp duty on new homes and offering discounts on lease variation charges.
