barossa valley
South Australia is the place to be, suggests a range of data. Image – Canva.
  • 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

You May Also Like

Beachside bargains: Top 10 NSW suburbs for downsizing under $1m

Discover NSW’s hidden gems where coastal lifestyles and housing affordability meet.

Is Christmas FOMO leading to bad property buying decisions?

A sense of urgency could be leading to poor property buying decisions.

A growing number of buyers and renters are swiping right on digital inspections

While the option seems great for the time poor, it still misses the mark on delivering a feel for the area and scale of the home.