The Property Council share the ACT Budget Snapshot

4 June 2019

Original content from Property Council of Australia

aa_title_act (14)

Key Economic Data

  • Private sector driving growth: ACT average 2.9 % (national 2.45 %)
  • Growth of 12% over last 3 years
  • Population Growth: Increased by 8,019 Canberrans or 1.9%
  • Unemployment: 3.6%
  • Headline Net Operating Balance: Deficit of $89.1 million (expected surplus of $413.3 million in 2022/23)
  • Wealthiest community in Australia – median wage $2,445 (national $1,734)
  • 1200 new businesses per year
  • 65.4% Canberrans own or have mortgage on home
  • Housing finance (owner-occupier) down 11.3% (to March 2019); Individual investors down 28.9%
  • Taxation Revenue $2.1 Billion: General rates $599 million (29%) General duties $298 million (15%) Payroll $583 million (28pc), Land tax, vehicle rego and other $571 million. (28%). 

Read more here https://www.propertycouncil.com.au/Web/News/Articles/News_listing/Web/Content/Media_Release/National/2019/Population_growth_and_robust_property_sector_driving_ACT_economic_growth.aspx