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HS Brisbane Property
0419 782 133
+61 (0) 7 3254 0888
sales@hsbrisbaneproperty.com.au
PO Box 15301
Brisbane City East
Queensland 4002
Australia

‘Solid’ economic growth for Queensland

Queensland’s economy is looking like it’s turned a corner and the future is looking bright, reports Deloitte in their latest quarterly Business Outlook report.

Highlights include:

  • Business investment up 3.4%,
  • Economic growth forecast at 3.1% each year until 2021 with gas continuing to drive growth
  • Employment up 1.9% and job vacancies also trending higher
  • Retail spending broadly back on par with corresponding nation-wide increases. A significant improvement after a prolonged period of underperforming
  • Small business confidence is holding on since 2015 with improvement in retail spending a contributing factor for this
  • Population growth is gaining momentum due to housing affordability which Sydney and Melbourne can not compete with. Queensland attracts 11,000 more people than it loses each year
  • Commercial construction continues to ‘over achieve’ with projects in the pipeline and the value of the work lifting
  • International exports have grown by 37.7% to a staggering $18.1 billion in the year to June 2017
  • International tourism is solid with average growth of 4.7% out to 2021. Almost two-thirds of all resort and hotel developments across the nation are based in Queensland (most of the dollars in upcoming planned work for the time being).  The lower Australian dollar is a contributing factor to the great figures.

Interestingly, the report conducted a special investigation into the Great Barrier Reef (GBR) showing it is valued at $56 billion to the economy (equivalent of twelve Opera Houses), and supports 64,000 full time jobs in Australia (more than large companies such as Qantas, Telstra, NAB, Kmart).

With 42% of Queensland’s population living in Brisbane, now is looking like the time to invest in our great city. Contact Hannah Schuhmann to discuss Brisbane CBD property investment options. 

 

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