Australia’s Economic Powerhouses

Western Australia has snared top spot for the fifth consecutive quarter on Australia’s economic leaderboard.

The state tops the CommSec report, after being ranked first in four of eight economic indicators.

Queensland climbed to second from third place, driven by a rebound in household spending, while South Australia slipped down to third spot.

The Northern Territory is the surprise package this quarter, jumping into fourth position from eighth in the previous quarter. This is the highest it has ranked since October 2016.

It is following a similar trajectory to Greater Darwin’s property market, which Hotspotting has identified as Australia’s strongest market.

Victoria slipped to fifth spot, pushing Tasmania down to sixth, while New South Wales is seventh and the ACT is now in eighth place.

The report says Western Australia’s economy ranks first for household spending, housing finance, dwelling starts and equipment spending. Tasmania has the strongest jobs market, South Australia is tops for construction work and the Northern Territory is top for population growth.

The report says that despite a challenging global economic and geopolitical backdrop, stabilising exports, government support and solid growth in household consumption are expected to drive activity in the resources-led economies of Western Australia, Queensland and the Northern Territory in 2026.