Curious to know how each of our States are performing economically? And how yours compares to the rest? If you’re at all interested in property or business you probably should be… and the good news is the results are officially in.
Each quarter CommSec puts out it’s own “State of the States” report, which measures each state and territories economic performance.
CommSec attempts to find out by analysing eight key indicators: These indicators are 1. Economic Growth, 2. Retail Spending, 3. Equipment Investment, 4. Unemployment, 5. Construction Work Done, 6.Population growth, 7. Housing Finance & Dwelling Commencements.
When it comes to the top if the leaderboard there has been no change from the previous quarter with NSW remaining number one overall. Victoria placed 2nd overall and ACT surprisingly was 3rd. The big mover was Tasmania which shot up from 7th to 4th position.
This data indicates that the overwhelming majority of strength in the south-east states and territories. What it also highlights overwhelmingly is the continual population growth that the east coast will enjoy for at least the next decade.
Having up to date data and understanding these long term forecasts before investing into an area is crucial for long term success. I have made a living out of relying on the research to guide my investing. To learn how I plan to do this to increase my personal portfolio join me at my next free Investor Meeting. Claim your free seat now.
There is a lot of interesting data to be pulled from the CommSec report. Here are what I believe to be some of the most note worth points.
• New South Wales has remained in the top spot on economic growth, equipment investment, retail trade, and dwelling starts.
• Victoria is in first place when it comes to population growth as well as housing finance.
• Queensland is in second place on dwelling starts, and it’s population growth is escalating at the fastest annual rate in almost two years.
• Tasmania wins the “Most Improved” award, with an increase from seventh to fourth on the performance rankings.
Here is how each state has faired according to CommSec’s report, with the strengths and weaknesses outlined for each state.
These ever changing economic conditions are just a few of the factors to consider before moving into a new market. While important, they are just one piece of a patch work quilt that I use to help ensure I get the most for my money with as little risk as possible. I’ll be sharing exactly how I will select my next investment properties in 2017, so if you plan on purchasing an investment property this year I suggest you drop into our next complimentary Investor Meeting. To claim your free seat please click here.