CommSec State of the States July 2024: A Smart Investor’s Guide

The latest "State of the States" report by CommSec is here, and we’ve distilled the key points that matter most for property investors. Here’s what you need to know about where to invest for solid returns.

Source: CommSec State of the States July 2024

South Australia (SA): The Top Performer

South Australia is leading the nation, ranking first on three significant economic indicators. Here’s why SA should catch your attention:

SA boasts the strongest job market in Australia, with unemployment 33.4% below the decade average. More people employed means more demand for housing. SA construction work is up 15.6% compared to the decade-average level, indicating healthy infrastructure development.

Western Australia (WA): Growth and Opportunity

Western Australia is another standout for property investment. WA is leading the country in relative population growth, driving demand for housing. The value of home loans in WA has surged by 37.8% on the long-term average, indicating a strong housing market. Although WA lags in construction work done, this can create a demand-supply gap beneficial for long-term property investments.

Queensland (QLD): Housing Finance Strength

Queensland holds its ground with a strong housing finance market. QLD’s housing finance is up by 32.3% on the long-term average, signalling a healthy and active housing market. While the relative economic growth is slower, the robust housing finance market suggests significant investment opportunities in residential properties.

Victoria (VIC): Economic Resilience

Victoria shows solid economic performance, particularly in retail spending, a positive sign of economic health and stability. High retail spending often translates to more job opportunities and a higher demand for housing.

New South Wales (NSW): Population Growth

New South Wales continues to attract attention due to its significant population growth. This growth benefits the property market and offers ample opportunities for property investments, especially in the residential sector.

If you’re ready to explore these opportunities and want expert advice, now is the perfect time to act. Contact Property Club at enquiries@propertyclub.com.au to leverage our insights and expertise in the best property markets. We’re here to help you navigate and capitalise on these opportunities, ensuring your investments are smart and profitable.