Ensure you never miss an issue of the
real estate business bulletin
Optimism highest in property and finance

Optimism highest in property and finance

by Reporter 0 comments

Michael Masterman

Real estate and financial services businesses are finding trading conditions less challenging than other industries, according to research by Bankwest.

The annual Business Challenges and Opportunities Report for 2013, revealed just 36.8 per cent of real estate small to medium enterprises (SMEs) consider the general economic environment an obstacle to success, the lowest level of any industry.

In comparison, 84.8 per cent of SMEs from the transport industry, and 84 per cent from the manufacturing industry, reported they considered the economic environment an obstacle.

Bankwest executive general manager, business banking Sinead Taylor attributed the real estate sector’s optimism to the recent upturn in the property market.

The Business Challenges and Opportunities Report also noted both the financial and insurance services sectors reported positive trading conditions.

Within these sectors, over 63 per cent of respondents cited investment opportunities as a key driver for business growth, higher than any other industry.

Overall, 69.4 per cent of SMEs reported increasingly challenging conditions in 2013 - a modest reduction on last year’s result of 72.7 per cent and 2011’s 80.1 per cent.

Ms Taylor said the overall result was very promising.

“It’s positive to see trading conditions for SMEs generally improving, despite some industries forecasting greater challenges and others displaying much more optimism,” she said.

From a state perspective, WA is home to the most optimistic respondents with 9.7 per cent saying they see many opportunities for growth, well above the national average of just 7.2 per cent.

Ms Taylor said, “WA’s economy remains strong despite a general slowdown in the mining industry as the mining investment boom cools off.

“Compared to other states in Australia, WA has a reasonably positive long-term economic outlook, which is benefitting the state’s business community,” she said.

In contrast, Queensland’s SMEs are much less optimistic, with just 4.2 per cent reporting strong opportunities for their businesses over the coming 12 months.

Ms Taylor said it’s undeniable that Queensland’s SMEs are finding conditions tough at the moment.

“The general economic environment has impacted the state’s SMEs, having an obvious effect on sentiment for business conditions going forward,” she said.

Michael Masterman

Real estate and financial services businesses are finding trading conditions less challenging than other industries, according to research by Bankwest.

The annual Business Challenges and Opportunities Report for 2013, revealed just 36.8 per cent of real estate small to medium enterprises (SMEs) consider the general economic environment an obstacle to success, the lowest level of any industry.

In comparison, 84.8 per cent of SMEs from the transport industry, and 84 per cent from the manufacturing industry, reported they considered the economic environment an obstacle.

Bankwest executive general manager, business banking Sinead Taylor attributed the real estate sector’s optimism to the recent upturn in the property market.

The Business Challenges and Opportunities Report also noted both the financial and insurance services sectors reported positive trading conditions.

Within these sectors, over 63 per cent of respondents cited investment opportunities as a key driver for business growth, higher than any other industry.

Overall, 69.4 per cent of SMEs reported increasingly challenging conditions in 2013 - a modest reduction on last year’s result of 72.7 per cent and 2011’s 80.1 per cent.

Ms Taylor said the overall result was very promising.

“It’s positive to see trading conditions for SMEs generally improving, despite some industries forecasting greater challenges and others displaying much more optimism,” she said.

From a state perspective, WA is home to the most optimistic respondents with 9.7 per cent saying they see many opportunities for growth, well above the national average of just 7.2 per cent.

Ms Taylor said, “WA’s economy remains strong despite a general slowdown in the mining industry as the mining investment boom cools off.

“Compared to other states in Australia, WA has a reasonably positive long-term economic outlook, which is benefitting the state’s business community,” she said.

In contrast, Queensland’s SMEs are much less optimistic, with just 4.2 per cent reporting strong opportunities for their businesses over the coming 12 months.

Ms Taylor said it’s undeniable that Queensland’s SMEs are finding conditions tough at the moment.

“The general economic environment has impacted the state’s SMEs, having an obvious effect on sentiment for business conditions going forward,” she said.

Optimism highest in property and finance
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?