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Cerberus1

Best performing states - Q1 2018

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If you're moving to Australia and haven't decided where to want to live yet, it may be worthwhile keeping an eye on CommSec's  'State of the States' reports. 

The quarterly report attempts to find out how Australia’s states and territories performing by analysing eight key indicators:

  • economic growth
  • retail spending
  • equipment investment
  • unemployment
  • construction work done
  • population growth
  • housing finance
  • dwelling commencements.

Just as the Reserve Bank uses long-term averages to determine the level of “normal” interest rates; CommSec do the same with the economic indicators.

For each state and territory, latest readings for the key indicators were compared with decade averages – that is, against the “normal” performance.

The latest State of the States report also includes a section comparing annual growth rates for the eight key indicators across the states and territories as well as Australia as a whole. This enables another point of comparison – in terms of economic momentum.  

q12018.jpg

 

 

FIRST - New South Wales

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SECOND - Victoria

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THIRD - Australian Capital Territory

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FOURTH - Tasmania

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FIFTH - South Australia

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SIXTH - Queensland

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SEVENTH - Northern Territory

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EIGHTH - Western Australia

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NSW has retained top rankings on five of the eight economic indicators: retail trade, dwelling starts, equipment investment, construction work and unemployment. NSW is in third spot on economic growth, population growth and housing finance.

Victoria is second on the economic performance rankings for five of the eight indicators and in third spot on the other three indicators. The biggest improvement has been the job market with unemployment now almost 3% below the decade average.

The ACT has held on to third spot on the rankings. The ACT is top-ranked on housing finance, in second spot on the job market and in third position on dwelling starts and retail trade.

Tasmania has held fourth position on the economic performance rankings and it can be broadly grouped with the ACT. Tasmania is top-ranked on relative population growth and is second placed on equipment investment. Population growth is the strongest in 7 years.

South Australia remains in fifth position on the performance rankings and it can be broadly grouped with Queensland. South Australia is ranked fourth on dwelling starts and fifth on three other indictors. Construction work done is at record highs.

Queensland remains in sixth position on the performance rankings. But annual employment growth is the fastest in the nation. Population growth is at 4-year highs. And the annual total of export receipts is up more than 26% over the year.

The Northern Territory retains its seventh position on the economic performance rankings and can be broadly grouped with Western Australia. The NT is top ranked on economic growth and second-ranked on construction work done. But it lags all other states and territories on five of the indicators. The good news is that exports are growing strongly, up 22% on a year ago.

Western Australia is seventh on five indicators and lags other economies on the other three indicators. But equipment spending and exports are posting firm annual growth.

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That's very interesting Cerberus.  It would also be interesting if there was a break down of which country towns are going well. In my experience, not too many, which is a shame as I think that is where we should be looking for the future. It would be good if migration was centered on these under populated places rather than Melbourne, Sydney, Perth etc. 

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17 minutes ago, starlight7 said:

That's very interesting Cerberus.  It would also be interesting if there was a break down of which country towns are going well. In my experience, not too many, which is a shame as I think that is where we should be looking for the future. It would be good if migration was centered on these under populated places rather than Melbourne, Sydney, Perth etc. 

NSW has plenty of country towns doing very well eg Orange, Goulburn etc.  Probably the big difference compared to other states 

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1 hour ago, Bulya said:

NSW has plenty of country towns doing very well eg Orange, Goulburn etc.  Probably the big difference compared to other states 

Bathurst and Mudgee also doing well.

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Bendigo isn't bad in Victoria.  Not sure about Ballarat though. Some of the beach towns seem to be going ok but the inland ones seem to struggle.  Stlll if you are looking for cheap property they are good ( thinking Swan Hill area)

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3 hours ago, Toots said:

Bathurst and Mudgee also doing well.

Not to mention Crookwell, Yass, and Mittagong

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