- ANZ Stateometer reveals SA economic activity is at its highest level on record
- HIA data shows the volume of real estate transactions is up by 90.6%
- SA has highest per capita rate of HomeBuilder grants
The South Australian Government believe it has reason to celebrate the state’s growing global appeal as one of the most attractive places to live due to record-breaking economic and housing data.
The independent ANZ Stateometer index has revealed economic activity in South Australia is at the ‘highest level on record”.
Additionally, the first quarter of the calendar year has also revealed South Australia’s economy is ‘above trend and accelerating’, housing activity is at a record high, net interstate migration is positive and the consumer sector is improving.
The Housing Industry Association of Australia (HIA) has data showing that the volume of real estate transactions is close to double year-on-year – up by 90.6% – which is the highest of the mainland states.
The ANZ Stateometer described South Australia as ‘location, location, location’
“The index is at its highest level on record, far surpassing the previous high in 2008. The housing component is at historic highs. Living in South Australia may have become more appealing, because of how well it managed the pandemic, apart from the November blip.
“As such, South Australia’s Stateometer housing component is the second strongest across the states, after Western Australia.”
ANZ Stateometer report
South Australia has the highest number of HomeBuilder grants per capita nationally.
Desa Deda, BankSA’s Chief Economist, added that the economic recovery of South Australia has been better than most other jurisdictions within the country, especially in the housing and construction sectors.
“The lift in (building) approvals will help generate a strong pipeline of residential construction activity and flow on to jobs which should sustain, if not lift, the level of employment in the state,” she said.
“Recently Adelaide was named Australia’s most liveable city. It is affordable, it has good infrastructure, it’s easy to get around, consumer confidence is elevated, and businesses are more optimistic.”
Desa Deda, BankSA Chief Economist