Population Growth and Robust Property Sector Driving ACT Economic Growth

In BICSI Bytes, News by info@bicsi.com.au

According to its 2019 Budget, the ACT has the strongest economic growth of any state or territory, the lowest unemployment and the highest median wages, while its population is growing by 8,000 people annually, projected to reach 460,000 by 2023.

The ACT Budget is a roadmap for a growing Canberra that supports an increasingly diverse economy while continuing to invest in health, education and community infrastructure to ensure Canberra remains one of the world’s most liveable cities. A key component of the 2019 Budget is a AU$3 billion investment in infrastructure for the ACT, including hospitals, schools, transport networks and roads, including funding to support the planning for Stage 2 of light rail.

Commenting on the ACT Budget, Executive Director of Property Council ACT, Adina Cirson said: “The property industry is a driver of Canberra’s economic strength and diversity, employing one in seven Canberrans and contributing almost 58% of the ACT’s own revenue from taxes and charges. There are a number of welcome measures in the Budget which will support the economy and position Canberra as a more attractive destination for business and investment.”