Monday, April 23, 2012

Again Real Estate Lets WA Down

COMSEC released today findings that see the West Australian economy running rings around the rest of the country to the point that analysts needed to look at Australia's economy in two metrics - one including WA and one without WA's figures.

WA was on top in five of the eight economic inidicators - retail spending, economic growth, equipment investment, unemployment and construction work. Economic output was 32% more than the average in the last10 years in WA, construction was 82% above decade averages and retail spending 21% above average. In population growth, we were second. However, when it came to the two real estate indicators, dwelling commencements and housing finance, WA is in the middle of the pack with dwelling starts 15% below the decade average. There are signs that housing finance will improve in the coming months for WA as February recorded almost 20% improvement from a year ago.

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