Jobs growth and record infrastructure investment have solidified Victoria’s position as the nation’s strongest economy.
“The fall in overseas migration that we have seen for the past 18 months has eased in the most recent quarter,” stated Tim Reardon, HIA’s Chief Economist.
Both major parties need to re-commit to policy agendas for economic growth following the worse than expected performance by the Australian economy in the closing months of last year (2018),” said Denita Wawn, CEO of Master Builders Australia.
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 0.7 points to 43.8 in February 2019, indicating a slightly slower rate of decline for the construction industry on aggregate (readings below 50 indicate contraction in activity, with the distance from 50 indicating the strength of the decrease).
“The Opposition Leader, Bill Shorten, has today (March 6 2019) raised a number of important issues for consideration as we move towards the looming election campaign,” Ai Group Chief Executive, Innes Willox, said.
“The Government should listen to the unanimous recommendations of the Senate Standing Committee on Economics, and the widespread warnings from industry, and rethink its proposed cuts to the Research and Development Tax Incentive (R&DTI),” Australian Industry Group Chief Executive Innes Willox said.
“Lending for the purchase of a new home has continued to slow causing the building market to cool,” said Tim Reardon, HIA’s Principal Economist.
The proposed South East Queensland (SEQ) City Deal is a game-changer for this booming region and a vital momentum builder towards a national network of city deals that will shape the future of Australia’s urban landscape.
The final report of the Hayne Royal Commission into misconduct in the banking and financial services industries comes at a critical time for the Australian property industry.
Surging job numbers, a thriving construction industry and buoyant retail trade have underpinned Victoria’s number one spot in CommSec’s State of the States report.