Property developers are continuing to advance projects despite softer market conditions and economic uncertainty, according to the latest NAB Commercial Property Survey.
Property developers back Australia's growth outlook - NAB
30 July 2026
Housing
Key points
- Queensland and WA lead Australia's development pipeline
- Nearly half plan new projects within six months
- Confidence remains positive despite market uncertainty
Property developers are continuing to advance projects despite softer market conditions and economic uncertainty, according to the latest NAB Commercial Property Survey.
Nearly half (49%) of developers plan to start new projects in the next six months, above the survey's long-run average of 47%, highlighting an ongoing commitment to future growth and housing supply.
Queensland and Western Australia are leading the pipeline, with developers in those states significantly more likely to commence projects in the coming six months:
| Queensland | 75% |
|---|---|
| Western Australia | 67% |
| New South Wales | 46% |
| Victoria | 28% |
| South Australia/Northern Territory | 25% |
Western Australian commercial property developer Hatfield Group said the state's strong population growth and economic momentum were supporting ongoing investment and attracting national businesses.
Hatfield Group Managing Director James Galluccio said Perth was increasingly becoming a destination for businesses looking to expand.
"Perth is attracting growing interest from national tenants, particularly businesses from the eastern states looking to establish or expand their presence in Western Australia," Mr Galluccio said.
"As Western Australia's population approaches three million people, Perth is reaching a scale where growth becomes increasingly self-sustaining, supported by a strong economy and a business environment that encourages investment.
"We've seen strong growth in interest from national retailers over recent years, and demand for well-located retail space remains robust as businesses position themselves for long-term growth."
Developers are also increasingly relying on land they already own, with nine in ten planning to use existing land bank holdings for future projects, up from 74% in the previous quarter.
While commercial property confidence eased during the June quarter, sentiment remains positive over both the next 12 months (+20) and next two years (+39).
NAB Executive, Specialised Banking, Jasmine Ashton, said developers continued to take a long-term view despite ongoing market challenges.
"Australian businesses have repeatedly demonstrated their ability to adapt and invest through changing conditions, and today's property developers are showing that same resilience," Ms Ashton said.
"Despite ongoing uncertainty, many developers are continuing to advance projects and maintain development pipelines. Nearly half are planning to commence new projects in the next six months, a positive signal for future housing and commercial property supply.
"Rather than waiting on the sidelines, developers are making strategic decisions now, including drawing on existing land banks to keep projects moving and prepare for future demand.
"While confidence has eased from earlier highs, the sector remains optimistic about the medium-term outlook and is positioning itself for future opportunities."
Brisbane-based developer Gavin Jones of JSF Property Management said strong underlying demand continued to support investment decisions despite broader market uncertainty.
"The underlying demand for housing remains very strong, particularly in growth corridors throughout Southeast Queensland, and more affordable parts of the market," Mr Jones said.
"We're continuing to invest in new projects because we believe the long-term outlook is positive, and there's a clear need for more housing to support growing communities."
"While market conditions can fluctuate, the fundamentals remain strong and we're focused on helping meet demand by bringing more housing supply to market."
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