What is important when it comes to residential property performance are jobs.
So spend a few minutes looking at these charts.
- Queensland & Western Australia are now creating most of the new jobs.
- Not enough full-time work is being created.
- For mine, the federal budget should be all about helping create employment opportunities. Cutting red tape for sure; but not throwing out the baby with the bathwater.
- NRAS, for example, is not only helping to house key-workers, but is projected to create 349,000 jobs; whilst generating $9.3 billion in tax revenue & costing less than half of this amount to implement. (Okay, so there is a little bit of budget stuff!)
- Queensland’s employment story has been building for some time.
- A positive & consistent change in employment has a direct relationship with sales volumes, and as shown for Brisbane, real estate prices too.
- Declining job prospects result in fewer sales & less price growth.