Prospects improved for Australian property in the three months to December 2011, the Property Council of Australia's and ANZ's industry confidence survey has claimed.
It found confidence among professionals in the industry had improved slightly, moving from 104 to 107 on the index, where 100 represents a neutral position.
Sentiment was boosted in resource-strong states like Western Australia and Queensland, after they benefitted from the country's ongoing mining boom.
Property Council chief executive Peter Verwer said people were reasonably positive about the industry's short-term future.
"However, it is clear that Europe's debt woes, a slow recovery in the US and disappointment in Australia's political leadership are making property participants nervous about Australia's economic prospects," Mr Verwer added.
ANZ global chief economist Warren Hogan added that uncertainty in China and the Middle East could have an impact on property prices in the country.
The AAP reported yesterday that positive housing news had led to a rise in the Australian dollar against its closest competitors.
Posted by Steve Douglas
