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Aspects of Australian Economy Affecting Property Market

By Admin | Apr 21, 2015 at 10:05 am | 0 Comments |


In Australia, from residential construction to home selling, all parts of the property market directly depends on the various aspects of Australia’s economy. Thus, it’s revealing a great impact on bad credit home purchases.

Key indicators to establish the performance of the states and territories”, assessed under quarterly CommSec State of States report.

In the previous report of last quarter, NSW was the leader of the overall economy along with Northern Territory. However, this time, NSW is going to lead the way on its own.

According to the report, “Due to growth of population in recent years, NSW is leading towards top and in response, residential constructions are overcoming the shortage of accommodation”.

Across a range of factors, the states and territories are shaping currently in the following ways –

Residential Construction

Residential construction work is increasing more rapidly than decade averages in six of the territories along with states.

  • Norther Territory with 171 per cent
  • Western Australia with 33.4 per cent
  • Queensland with 10.7 per cent
  • New South Wales with 10 per cent

  

Tasmania is now sitting at 4.7% below the decade averages and the ACT are just scraping by at 0.2%.

Economic Advancement

  • Northern Territory sitting under 45 per cent
  • Western Australia at 26 per cent
  • ACT at 15.2 per cent
  • New South Wales at 6.3 per cent
  • Victoria at 4.1 per cent
  • Tasmania at 2.4 per cent

Home Finances

  • Victoria commits 11.5 per cent housing finances
  • New South Wales commits 10.4 per cent
  • Western Australia commits 5.5 per cent

Source: https://www.yourinvestmentpropertymag.com.au/news/whats-affecting-australias-property-market-199445.aspx


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