PHOTO: Confidence in Queensland’s property industry has taken a sharp fall. 

CONFIDENCE in Queensland’s property industry has crashed to its lowest level in five years amid uncertainty over tighter lending conditions and the upcoming federal election.

The latest quarterly ANZ/Property Council Survey shows a drop in sentiment to 118 index points for the March 2019 quarter — lower than any other jurisdiction.

National confidence declined by three index points for the quarter.

Despite Brisbane’s housing market bucking the trend of falling property prices in Sydney and Melbourne, the latest confidence drop has sounded alarm bells for Queensland’s property industry players as they seek to calm nervous buyers and sellers.