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CommSec: Australian Capital Territory Ranked Third Highest State Economy

By Ben Faulks

The latest CommSec State of the States report for January 2014 has indicated that the Australian Capital Territory is now ranked third with Queensland with regards to economic strength, tailing just behind Western Australia and the Northern Territory.

This could highlight a fantastic time to consider looking into investing in houses for rent in Belconnen or any of the surrounding suburbs, which could prove to be a great region of growth in the coming months.

In fact, the Australian Capital Territory's strongest economic indicator was the growing population, indicating a potential gap in the market for accommodation as more people begin to call the region home.

The annual population growth for the state was 2.2 per cent, which is a huge 43 per cent above the normal average year growth.

Furthermore, housing construction starts in the state underwent impressive growth, resting almost 57 per cent higher than the state's decade average. During the September quarter, the starts were 27.4 per cent higher than the previous year – the strongest growth in two years.

Now could be the perfect time to consider investment in Belconnen real estate, with these growth figures expected to remain steady for the coming months.

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