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Australian economy will determine commercial property sector

The commercial property sector depends on investment and how the Australian economy fares.

The future of Australia’s commercial property sector will depend on how the country’s economy fares in the near future.

At present, the commercial property sector is predicted to keep the same level of construction volumes over the next year.

However commercial property sales are expected to increase as business confidence is expected to have risen, particularly with foreign investors.

Overall, the construction market has decreased in value recently as fewer orders have been put through.

Data from the Australian Industry Group Performance of Construction Index has shown that the construction industry contracted in January.However, construction businesses in areas such as Queensland have been able to benefit from more approvals on new builds despite an overall decrease in those approved nationwide.

In recent times, some sectors have seen positive movements that have helped to push up the Australian economy. The residential property market is one such area that has experienced growth as house prices across Australia saw a rise in the final quarter of 2012.

Posted by Ravin Chatlan

- economy, property, construction, confidence

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