The latest Property Council of Australia Industry Sentiment Survey is incredibly telling on the relative economic position of the States.
Whilst every state (bar the ACT) saw a drop in sentiment in the last quarter, mostly due to interest rate rises and high inflation, Victoria has dropped to record-low territory at just 67 (down from 84). Neutral is 100.
The Victorian Government and Department of Transport and Planning can gaslight us all they like about what they have been doing. The truth is Victoria is falling further behind on all important indicators – debt, tax, red-tape, investment, unemployment.
We need policies that address the actual concerns of industry instead of continuing to allow decision-makers with no real-world expertise (or skin in the game) to make things worse.
We need positive ways to fix tax, actual planning reform where it counts, hold government to timeframes, and create positive investment settings.
Confidence in the State of Victoria has been erased across the board. It's a sad State of affairs (pun intended).