26 Oct Queensland Economic Outlook ‘Positive’: Deloitte
Originally posted on ‘The Urban Developer‘
Queensland’s economy is solid and giving people good reason to be upbeat about the future, according to Deloitte’s latest economic snapshot of the financial quarter.
Construction and development appeared healthy to Deloitte’s analysts, who attributed some of Queensland’s strong economic outlook to high levels of interstate migration and international tourism, which have encouraged a growing list of tourism-related construction projects.
Queensland’s international tourist arrivals are expected to remain solid over the forecast period, averaging growth of 4.7 per cent out to 2021.
There were reasonable gains in engineering activity in Queensland, and Cross River Rail was in the planning stages.
The report also put a focus on liveability and housing affordability. In the midst of the continuing debate over house prices and quality of living, Deloitte reported that Queensland has less cause for concern.
Queensland’s place in the national picture of housing affordability is a comparative advantage. In the midst of a housing price boom, living in Queensland remains more affordable than in the southern states.
While Sydney and Melbourne house prices have experienced year-on year growth in the double digits, Brisbane has experienced a modest 3.5 per cent growth.”