Across Australia’s eight states and territories, conditions tend to be vastly different. Just by crossing a state boundary, you’re likely to find contrasting conditions in terms of the economy, culture and even geography. That’s why, when purchasing a home, it’s important to look at the wider state in which you’re going to be placed to make sure it’s a good investment.
Anyone considering purchasing apartments for sale in Broadbeach will therefore be heartened by the recent State of the States report from Commonwealth Bank, which reveals that Queensland is going strong economically.
Queensland’s economic growth was ranked third out of the states and territories for the June quarter, with a gross state product ranked at 15.1 per cent above the decade average level. It finished ahead of New South Wales and Victoria in this respect, but was beaten by the Northern Territory and Western Australia.
In what is more good news for prospective property buyers, Queensland also saw a spike in dwelling starts. While recording only a 5.1 per cent increase on the decade average of commencements, this was 17.3 per cent higher than a year ago.
Buyers, then, have multiple reasons to consider Queensland a strong state in which to purchase property.