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Why jobs are important to property performance- Michael Matusik

What is important when it comes to residential property performance are jobs.

So spend a few minutes looking at these charts.

employment 1

employment 2

employ 3

Some comments:

  • 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.

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About

Michael is director of independent property advisory Matusik Property Insights. He is independent, perceptive and to the point; has helped over 550 new residential developments come to fruition and writes his insightful Matusik Missive


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