Exclusive research has offered insight into how the real estate industry rates the government’s response to the COVID-19 pandemic.
Since the pandemic was declared, the Australian government has introduced a series of restrictions which impact the real estate industry, most notably the ban on public in-person auctions and open-house inspections.
To understand how the measures are being digested across the Australian marketplace, REB sister brand My Business commissioned Momentum Intelligence to create an ongoing survey of a cross section of Australian business owners and employees — including those operating in the real estate industry.
The COVID-19 Business Confidence Survey encouraged participants across a range of Momentum Media’s professional services brands (accounting, aviation, defence, financial services, law, mortgage and finance broking, and real estate) to take part in an online questionnaire between 2 and 22 April.
A total of 6,740 responses were received, and the results have been evenly weighted across each industry.
One of the components of the survey asked about the perceptions of business owners/managers and employees towards the Australian government’s response to COVID-19.
When it comes to their level of satisfaction, 73.96 per cent of business-owner respondents across the board stated they were satisfied with the response, while 16.10 per cent identified as being neutral and 9.94 per cent said they were dissatisfied.
Similarly, 74.31 per cent of employee respondents across the board said they were satisfied with the government’s response, 17.32 per cent said they were neutral and 8.37 per cent said they were dissatisfied.
Drilling down into the results, the real estate industry painted a slightly different picture, with 68 per cent of employees in this space indicating they were satisfied, while 19 per cent were neutral and 13 per cent were dissatisfied.
Business owners within the real estate industry are more satisfied with the government’s response than employees, with 71 per cent of respondents selecting this option; 16 per cent selected neutral and 13 per cent selected dissatisfied.
The industry recording the highest level of satisfaction with the government’s response to COVID-19 was the defence industry, with 83 per cent of business owners and 79 per cent of employees selecting that they were satisfied.
Utilisation of support packages
The COVID-19 Business Confidence Survey also asked respondents to identify whether they would be applying for government-introduced support mechanisms amid the pandemic.
The majority of respondents said they will take up the measures related to cash flow for employers.
This was followed by the JobKeeper payment, measures related to an increase in the instant asset write-off, measures around accelerated depreciation deductions and measures related to apprentice and trainee wage subsidies.
More about the survey
The dynamic COVID-19 Business Confidence Survey serves as a barometer of how businesses, and working Australians, are adapting to the changed working and social environment throughout the COVID-19 pandemic.
This will enable us to map attitudes, confidence and business activities as they evolve by market sectors, revealing which industries and professions are adapting most effectively to the “new normal”.
The first instalment of the survey report is expected to be released next week.
ABOUT THE AUTHOR
Emma Ryan is the deputy head of editorial at Momentum Media.
Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.
Email Emma on: [email protected]