State of the states , tassie biggest mover , q'ld next

Discussion in 'Where to Buy' started by See Change, 23rd Jan, 2017.

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  1. See Change

    See Change Well-Known Member

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    Latest commsec survey comparing the economic performance of the states

    So for all those Tasmania doomsayers , it was nice to see Tasmania as the big mover . It's normally anchored bottom but has jumped up to forth , leading the second tier states .

    Central Hobart has already started its move which is now out to the middle ring suburbs . Launsceston is starting to wake up

    Nice to see q'land also starting to see more growth .


    " Tasmania, at fourth, was the big mover during the quarter, rising from seventh in the previous quarter with “population growth boosting housing demand and supporting the job market”, according to James.

    Queensland, at fifth, also saw its ranking improve, benefiting from stronger population growth and home building.

    “Queensland is being underpinned by a modest recovery in population growth, driving demand for homes,” says James. “In fact home starts are more than 36% higher than the decade-average.”

    Cliff
     
    Last edited: 23rd Jan, 2017
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  2. MTR

    MTR Well-Known Member

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    No surprises here.

    NSW and Victoria clearly in front of the pack

    Perth, Darwin, Adelaide still struggling
     
  3. D.T.

    D.T. Specialist Property Manager Business Member

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    Wrong, read the threads on it.
     
  4. MTR

    MTR Well-Known Member

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    Re read the article/link that Seech posted

    The South Australian economy, in seventh position, is middle ranked on business investment and fifth ranked on three other indicators while the economic performance of Western Australia continues to reflect the ending of the mining construction boom.”
     
  5. MTR

    MTR Well-Known Member

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    This may help WA economy, this was on news today? Though I think we will need more than this for a recovery

    http://www.couriermail.com.au/news/...a/news-story/62516931a529a6d3bf39db1bcbf837ca

    Perth now
    Extract below
    A BILLIONAIRE family from New Zealand is poised to sign a State Agreement with the WA Government that will pave the way for a $5 billion iron ore project in the Pilbara.

    More than 3000 jobs would be created during construction and 9000 workers would be recruited during production if Todd Corporation, one of New Zealand’s biggest private companies, pressed the button on the Balla Balla project.

    The project ultimately involves building a six million to 10 million-tonne-a-year iron ore mine near Whim Creek, between Port Hedland and Karratha. Before that, a 160km railway would link stranded iron ore deposits to a new port.

    Industry observers believe development of the principal Balla Balla deposit, which comprises difficult-to-process magnetite ore, would require iron ore prices to continue outpacing forecasts of $US50 a tonne. Iron ore was trading at $US80.41 on Friday.
     
    Last edited: 23rd Jan, 2017
  6. DaveM

    DaveM Well-Known Member

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    I believe the article is referring to state economy and not property specifically?
     
  7. willair

    willair Well-Known Member Premium Member

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  8. See Change

    See Change Well-Known Member

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    Threads on state of state report ( can't see any ) or Tasmania ?

    It is referring to the economy and if anyone follows the link provided , that is clear .

    Given most people who make negative comments about Tasmania like to point out a moribund economy , it's nice to see CBA are upbeat about it . Now it's harder to do that , though with tassie and q'land moving up SA has now dropped down

    For clarification. I have edited the first line of my post to

    Latest commsec survey comparing the economic performance of the states ,

    Cliff
     
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  9. MTR

    MTR Well-Known Member

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    Cliff I think what is happening with Tassie at the moment has to do in part with tourism? I get the feeling Tassie is in favour again from what I am reading, noticing its becoming a very hot destination.

    Also when the Au$ Falls this impacts on tourism this is helping their economy.

    I would also be very interested on immigration figures per State? This is also another key driver

    MTR:)
     
    Last edited: 23rd Jan, 2017
  10. MTR

    MTR Well-Known Member

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    Here is a link on Tassie, seems it is moving, strong economy helping this market
    Listings selling within 1 week.

    ABC News



    Record real estate prices predicted to continue in Hobart

    Extract by BIS Shrapnel for QBE

    Stronger median price growth forecast
    Prices are expected to continue breaking records, according to the latest Australian Housing Outlook prepared by BIS Shrapnel for QBE.

    "For Hobart, the median house price is forecast to rise from $377,900 up to $425,000 in the next three years," said QBE's Phil White.

    "That's actually a cumulative price increase of 12.5 per cent over a three year period, so that's very strong growth when you compare it to our forecasts for other cities around Australia."
     
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  11. MTR

    MTR Well-Known Member

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    That is correct, however economy is very important, certainly can be a trigger when locating strong property markets. I guess that is why Tassie property market is moving, the economy is improving.
     
  12. See Change

    See Change Well-Known Member

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    MTR

    Maybe you should go down and check it out :cool:

    Cliff
     
  13. big max

    big max Well-Known Member

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    Qld should do nicely this year. Tourism continues to pick up. Building picking up. Commonwealth games effect. Gold Coast boom to drive growth. And resources picking up. And we should see significant amount of Sydney and Melbourne coming in too.
     
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  14. See Change

    See Change Well-Known Member

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    We were living in concord when Olympics were announced and it didn't affect the market at all .

    Cliff
     
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  15. sash

    sash Well-Known Member

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    I agree with this assessment.

    The real cause if immigration into Sydney, Melbourne, Brisbane, and even Perth is relatively high....

    Unfortunately...Adelaide is a laggard in this regards (immigration)..this and the fact that there is very job generation in Adelaide will cause property price rises to be subdued into foreseeable future.

    Adelaide will grow but not as much as some are expecting and only in select areas.

    As for Hobart...the supply side has not been addressed for years so there is some growth there. Launceston does not have the same fundamentals so growth will be not be as great.
     
  16. See Change

    See Change Well-Known Member

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    Launceston did similar growth to Hobart last cycle when tassie was still a basket case .

    Cliff
     
  17. Matthew

    Matthew Active Member

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    I have seen many recent reports that state the Commonwealth Games will do absolutely nothing for Qld property prices. Why would it ? It's a tourism event basically.
    The 2006 Commonwealth Games in Melbourne had no effect on property prices, either did the 2000 Olympic Games in Sydney.
     
  18. big max

    big max Well-Known Member

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    Why would it? Well first the spending on infrastructure and sports facilities. Second the longer term plans of building the Gold Coast into a sports event and trading Mecca. Third because we are now in the age or social media and the games will serve to promote aspects of the Gold Coast like beaches, sports facilities, night life etc like never before. 4th because many of the 1 million + visitors coming to the games will come again,neither friends/family and might invest here. 5th because the games form a nice platform for Briabane to host then Olympics 2028 or 2032. 6th because confidence breeds confidence. The coast is set to boom anyhow and the games for many are just the reason to feel confident to invest now with the expectation of 20%+pa gains in each of the next few years ...

    I could go on but I hope this helps :)
     
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  19. See Change

    See Change Well-Known Member

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    That's what they said about the Olympics , but that wasn't my observation in sydney ... Just saying :)

    It's a short term event . Construction leading up to event , so increased demand for accommodation during the construction phase , maybe oversupply of accommodation and after the event not as much demand for accommodation.. Does that sound familiar ? another boom bust senario built on hype which is the historical path for the gold coast

    Yep Gold coast with have improved infrastructure as a result as did Sydney , but for me it's a situation of uncertainty and isn't a situation I would seek out to invest in .

    I did look at the Gold coast when we were buying in Goodna and did see a couple of older style walk up units around 300 with good rental returns and low BC's which would have been good buys , but they sold very quickly .

    Cliff
     
  20. EN710

    EN710 Well-Known Member

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