“The situation in Victoria has deteriorated since its highs, much like many of the economies throughout Australia." According to CEDA Economist Liam Dillon, demand has cooled in Victoria since post-pandemic highs, sitting second last behind Tasmania on demand for goods and services. Read more on the latest economic outlook for Victoria here. ⬇️ https://lnkd.in/g3j5p_bB #Victoria #Melbourne #economy #auspol
CEDA - Committee for Economic Development of Australia’s Post
More Relevant Posts
-
Reflecting on the recent CommSec State of the States report, which found South Australia leading the country in economic performance, it’s worth looking at the success of the state’s economy from a local perspective.Spendmapp data for the City of Norwood Payneham & St Peters showed spending across the city between April 2023 and March 2024 being $1.861b, up from $1.667b from the previous 12 months. This represents an increase of $194m or 11.63% increase. Incredibly, $68 million of the $193m increase was in the Dining and Entertainment sector, which recent media reports suggest is struggling. Of the 15 different sectors captured in the data, 12 showed an increase in sales with only travel, bulky goods, and trades and contractors down. This is an impressive result given the current cost-of-living pressures still affecting many households.
To view or add a comment, sign in
-
In the last quarter of 2023 we saw a range of national and Queensland specific factors lead to a decline in consumer spending, despite cost of living support measures announced in the Dec-23 mid-year budget. Amid these economic headwinds, our Queensland listed companies displayed resilience and increased their market capitalisation by 3.2%. M&A volumes were low for a second consecutive 6-month period since 2H-CY22, but with relatively stable interest rates and pent-up demand, the outlook for M&A activity in 2024 is brighter. Stay tuned for updates on QLD's economic landscape. https://lnkd.in/gWuzsHsN
The State of the Deal and the Deloitte Queensland Index – Q2 2024 | Deloitte Australia
deloitte.com
To view or add a comment, sign in
-
Director - Executive | Tech & Digital | Engineering | NFP Board Member | I find, guide and lift leaders
What a great turnout for yesterday’s Western Sydney Business Connection Business Leader Luncheon. Thanks so much to Belinda Allen from Commonwealth Bank for your insightful and engaging take on the state of the economy. Some very interesting takeaways; cash rate has peaked in advanced economies, inflation in Australia is moderating and tipped to continue falling and house prices to keep skyrocketing despite higher interest rates – largely buoyed by strong population growth via immigration. Overall, a positive outlook with the economy to improve toward the end of this year and into 2025. Interest rate cuts tipped to commence from September (fingers crossed). #interestratecuts #inflation #cashrate
To view or add a comment, sign in
-
What do we think about the economy? Unbiased, and 100% Ai-generated, our latest Economics for Property release maintains a tone of cautious optimism as we progress into 2024, with broader uncertainties met with tales of success as certain regions and industries steam ahead of historical averages. Key take-outs: - WA a major standout in economic growth (2X that of other states) with a similar trend in metro house prices. QLD maintains second place. - Employment staunch amid gradual inflation decrease. Professional services and food & accommodation lead. - Increasing affordability dynamic for apartments vs houses. - Rise in natural births over the quarter. A useful weekend read for the forward-thinking property investor ... get your copy here: https://lnkd.in/gB8WXhMP #economics #australia #property
To view or add a comment, sign in
-
The Australian economy experienced solid growth of 3.0 per cent in FY23, and this was spread fairly evenly across the states and territories, except for the Northern Territory. All states and territories except Queensland and the Northern Territory are likely to experience a slowdown in growth in FY24, particularly as upside risks to inflation persist. Cherelle Murphy Paula Gadsby Eloise Robertson #economics #australianeconomy https://lnkd.in/gte7A899
Quarterly states and territories chart pack: Broad-based growth across industries and states
ey.com
To view or add a comment, sign in
-
Why resilient economy is fuelling demand for Australian property Australian house prices have not only weathered inflation but have also soared to unprecedented levels, marking the fifth consecutive month of record highs, according to data from CoreLogic Australia. VentureCrowd’s Head of Property, David Whitting, shares his insights and talks how investors can access alternative ways of property investing. Presented by VentureCrowd https://lnkd.in/gtTFjnxv #ticker #housing #economy #realestate
Why resilient economy is fuelling demand for Australian property
tickernews.co
To view or add a comment, sign in
-
South Australia has, once again, been ranked as the top-performing economy in Australia, according to CommSec's latest State of the States report. This quarterly report measures the economic performance of each state and territory against their decade average. South Australia ranked first in four out of the eight key economic indicators measured. It saw a 9.1% increase in economic growth, a 35.8% reduction in unemployment, a 22.2% rise in construction work, and higher rates of new housing starts (all compared to the decade average). CommSec's chief economist Craig James said that while South Australia is performing well, its economic growth is beginning to slow. He suggested that Western Australia, currently in second place, could potentially overtake it. “Western Australia remains on top of the leaderboard of the annual growth rates of the eight key economic indicators. WA has the necessary momentum to pass South Australia to attain top spot in coming quarters,” he said. Meanwhile, Victoria placed third, while Queensland, New South Wales, the ACT, and Tasmania all tied for fourth place. The Northern Territory ranked eighth. #property #propertyinvestment #realestate ——— Want to build a wealth-generating property portfolio? We can help you buy high cash flow and growth properties around Australia using our data-driven strategy. Book a Discovery Call today to get started: https://lnkd.in/g-4gFY9P
To view or add a comment, sign in
-
Strategic Business Development Executive | Driving Growth & Innovation | Project Management & Digital Transformation Leader | Specializing in First Home, Investment & Commercial Loans | Committed to Client Success
Great roundup of key trends! The property market insights and economic updates are super helpful.
𝗔𝘀𝘀𝗶𝘀𝘁𝗶𝗻𝗴 𝗯𝗼𝗿𝗿𝗼𝘄𝗲𝗿𝘀 𝘄𝗶𝘁𝗵 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝘀 | Mortgage Broker | ESS income & Commercial Finance Specialist | Director at Win Square Finance
As we close out the week, here’s a quick overview of the major economic and property market trends shaping Australia. 🏠💼 🔗 Check out the full details in the links below: 1️⃣ Australians Are Saving More https://lnkd.in/dBW8Rj7u 2️⃣ Property Market Heats Up https://lnkd.in/dE4hWbZq 3️⃣ A Mixed Bag in the Labour Market https://lnkd.in/d_CTfeKU 4️⃣ Auctions on the Rise https://lnkd.in/dR-Xt45Q 5️⃣ Inflation Hits 3.8% - Housing Costs on the Rise Nationwide! https://lnkd.in/dr2789Re What's Next? 🔍 As August unfolds, watch for shifts in consumer confidence, property dynamics, and labour trends. These will shape Australia's economic landscape in the coming months. Stay tuned to our social media for more updates! #AustraliaEconomy #Mortgagebroker #mortgagabrokeraustralia #PropertyMarketTrends #EconomicUpdate #AustralianProperty #SavingsGrowth #LabourMarket
To view or add a comment, sign in
-
This weeks announcement that the annual inflation rate has fallen to a three-year low of 3.3% marks a turning point in the New Zealand economy. The latest economic indicators, including a strengthening stock exchange (NZX) and banks pricing in expected cuts to the official cash rate (OCR) later this year, suggest a more favourable financial environment ahead. We anticipate this will in turn boost confidence and activity in the Auckland property market. June marked a seasonal low in property sales and new listings. However, stakeholders should closely monitor the changing market dynamics. We expect that easing cost pressures, improved affordability, and anticipated interest rate cuts will rejuvenate the Auckland property market as we move toward Spring. Staying informed will be crucial for making strategic decisions and capitalising on emerging opportunities as the dynamics in the Auckland property market begin to shift in the coming months. We remain committed to providing insights and advice to help navigate these promising market conditions. If you’ve been holding off making decisions, now is a good time to reach out.
To view or add a comment, sign in
-
May 2024 Economic Update The NZBC is pleased to bring you this exclusive 2024 NZ economic update thanks to our partners ANZ, New Zealand Trade & Enterprise and The FoodBowl. The economy has slowed significantly, and the labour market is weakening, but inflation hasn’t yet been beaten. The RBNZ faces challenging trade-offs in meeting its mandate. Join ANZ Economist Henry Russell for a discussion on the outlook for the economy. and enjoy the networking opportunities with members of our thriving industry. In addition to the update from Henry, the Beverage Council’s Regulatory and Public Affairs Manager, Belinda Milnes will give a brief political round up and update members on the big issues the sector is facing for 2024. Economic headwinds are really starting to bite in Wellington and the retail and hospitality sectors are hoping the coalition government’s first Budget on 30 May will signal the start of the recovery. Register https://lnkd.in/gyV_rHir
To view or add a comment, sign in
26,028 followers