Tasmania tops population growth . Now 4th ranked economy .

Discussion in 'Property Market Economics' started by See Change, 30th Jan, 2018.

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  1. See Change

    See Change Well-Known Member

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    More positive stats for Tasmania for those who might have missed there’s a boom going on in Hobart at the moment ....

    Joke's over — Tasmania is on the way back

    CommSec's latest State of the States report showed Tasmania had jumped on top of the relative population rankings with its 0.64 per cent annual population growth rate

    A decade ago the rate of growth was 0.55 per cent.

    The fastest population growth in six years helped boost Tasmania's overall ranking from the fifth to the fourth-best performing economy .

    Cliff
     
  2. scienceman

    scienceman Well-Known Member

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    That's way below the population growth of Victoria and NSW (both well over 1%) so your depiction is a bit misleading. As is saying it's economy has 'improved' if the jump from 5th to 4th is merely due to population growth. Ie it's not a real improvement if it hasn't made a difference in per capita terms.
     
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  3. See Change

    See Change Well-Known Member

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    Just quoting the ABC article .... Can't let the truth get in the way of a good headline :cool:

    Cliff
     
    Last edited: 30th Jan, 2018
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  4. HUGH72

    HUGH72 Well-Known Member

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  5. scienceman

    scienceman Well-Known Member

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    Looks like by relative population growth they just mean compared to previous years - not to other states.
     
  6. Simon L

    Simon L Well-Known Member Business Member

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    670 in total jobs listed on seek.com.au in Hobart. 1153 jobs in all of Tasmania. In comparison, 4266 jobs in the ACT.

    Just pondering the long term sustainability of this growth............
     
  7. hash_investor

    hash_investor Well-Known Member

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    may be Tasmania is not the type of state with may 'seek kind jobs' .... ? OTH ACT is mostly seek type?
     
  8. Redom

    Redom Finance Strategist Business Member

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    Tas population is growing very strongly relative to itself over the past decade, and on that measure its the best in the country. But its had one of the slowest population growth figures over the last decade. So 0.64% population growth makes it top the charts...

    VIC population growth at 2.4% is pretty insane though (so is NSW compared to itself).

    Pretty sure TAS has a longer term population issue they're trying to address, state govt have a 'long term population growth strategy' in fear that population issues will arise over the next 15-25 years.
     
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  9. See Change

    See Change Well-Known Member

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    There have been population issues in Tasmania for the last 15-25 years and more ....:rolleyes:

    To have the highest growth for a long period of time is a major achievement.

    Cliff
     
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  10. Redom

    Redom Finance Strategist Business Member

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    I don't quite understand why, it seems like a pretty amazing place to visit & live. I would have thought they could attract a lot of retiree's, looking to make their dollar go further & upgrade living arrangements etc and get some solid interstate migration happening. Solid economic growth in the medium term will attract a workforce too (younger generation looking to buy at 300k, instead of 1.5mill!). Not too surprised if they can't attract too many internationals, i can see why they wouldn't want to go (long way from home/anywhere).
     
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  11. Lacrim

    Lacrim Well-Known Member

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    I think people can't get over the fact that its disconnected from the mainland. That to some is the appeal and to others, a turnoff.

    If it was closer to Victoria and had a causeway built between the two it would be a diff story.
     
  12. scienceman

    scienceman Well-Known Member

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    And 2.4% is not a 'population issue' (though you did say it was insane)?
     
  13. Redom

    Redom Finance Strategist Business Member

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    What do you mean @scienceman - too much growth?

    2.4% is very high (you'd need to be building a lot of homes, infrastructure to support that medium term).
     
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  14. scienceman

    scienceman Well-Known Member

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    Yes way too high and the infrastructure homes etc won't be built or at least not at the rate to stand still in the face of population growth. Then there are other negatives like stagnant wages, pressure on the environment.
     
  15. larrylarry

    larrylarry Well-Known Member

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    I like Hobart as a holiday destination but not live there.
     
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  16. Pentanol

    Pentanol Well-Known Member

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    Well spotted mate, I point this out in the Tassie thread and was shot down except was comparing it with NSW. If you check it out in terms the % of jobs earning 80k or more, Sydney has about 44% of all jobs, Tassie has about 25%... ABS says the crude affordability of Tasmania is 21% compared to 25% in NSW. So your money still goes further in NSW. Tbh population growth % is a not a great measure, 0.64% growth in a population of 200k for Hobart is nothing.

    I hope you actually try it out before making a final decision on retiring there. Beyond doing all the touristy stuff for a week there (maybe two weeks at a stretch) is nothing to do in Hobart in the way of life. Still have all my close friends there - I haven't seen any interesting fb posts from them for a very long time - because there is nothing to do there thats why all the teens are getting into trouble. Speaking as a Tassie boy who left in 2013. The restaurants, pubs and cafes are more expensive in Tassie than NSW. Traffic congestion is also 3th worse in the country with a population of only 200k (Hobart). You'll find it hard to find many Tassie expats wanting to move back. I still haven't actually met anyone who wants to live there.

    This is not to discourage anyone from investing there as I think it's up there with West of Vic as the place to invest for CG in 2018 but I'm talking purely about living there. Can't do it. If you like a slow life and enjoy hiking or bush walking it's ok but it's pretty hard to find anything to do.
     
  17. DrunkSailor

    DrunkSailor Well-Known Member

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    I think all population predictions like to use the current rate and apply it to the next 30 years so they can say "8 million by 2050!". 4 years ago they were claiming Perth would be Australia's biggest city by 2055.
     
  18. sanj

    sanj Well-Known Member

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    It has never been claimed that Perth would be the biggest city by 2055
     
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  19. DrunkSailor

    DrunkSailor Well-Known Member

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  20. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    at 5 million Perth would be very very dry

    ta

    rolf