Turn around expected for Queensland business conditions
- Published:14 Jan 2013
- Author:Property Australia Ezine
- Source:Property Australia Ezine
A new survey highlights the subdued business conditions endured by the commercial property industry in Queensland over 2012. But it also found a considerable change of pace is expected in 2013.
Bentleys Chartered Accountants’ Business Sentiment Survey questioned 200 Queensland-based Bentleys clients across multiple business sectors.
22.5 percent of all survey respondents said that business costs increased over 2012, while 54 percent of the property respondents reported a rise in operating expenses.
According to the survey, the property sector was the “bottom performer” when it came to financial turnover, with only 28.6 percent of property respondents reporting increased turnover in 2012, compared to a survey average of 33.5 percent.
The survey also found that, in terms of recruitment, the property sector was below the median of 18.5 percent, with only 8.6 percent of property respondents recruiting in 2012.
However, this figure turns around when looking ahead to 2013 recruitment expectations – 20 percent of property respondents said they will be hiring this year, compared to the survey average of 17.5 percent.
The survey found that for 2013, commercial property activity is most likely to occur within the health/education/human services sectors and, additionally, the retail/wholesale/hospitality sectors. Of these business groups, 28.6 percent and 27.3 percent respectively indicated an intention to buy or lease new property over the next 12 months.
Medium sized business with between 20 and 50 staff were the most likely to be in the commercial property market over 2013, with 46.7 percent indicating they would buy or lease new premises.