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    WA economy still on top

    Published on 16 April 2019, Tuesday, 4:25 AM

    CommSec has released its quarterly State of the States report, and the results will interest anyone interested in Australia's housing sector.

    Western Australia has again come out on top of the states, with particular strength in retail trading. The good news for the housing sector is that construction work is higher than decade averages in all states and territories except Tasmania.

    The ACT economy is the second strongest, with strengths in dwelling starts, housing finance and population growth. The Northern Territory finished first in construction work done, suggesting building is booming up north.

    Construction in the NT is up 72 per cent on its decade average, which is a huge growth. WA follows this up with a 62 per cent gain, and Queensland has increased by 45 per cent.

    The report shows that the overall housing construction outlook has improved, mainly due to low interest rates and state government grants for new construction.

    It is believed that all economies will lift now that the uncertain climate of the Federal Election has cleared, although a slowdown in mining is likely to affect some regions. There will be a lift in residential building, benefiting NSW, WA, Queensland and the ACT in particular.

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    Nathan Mills
    Nathan is a seasoned Kennards Hire team member passionate about empowering DIYers in their projects. He loves everything DIY and brings together years of equipment and project experience to help customers get the right tools for their next job.