State of the States

Construction work being done is now higher than the decade average in seven of the eight states.

The latest CommSec State of the State report says the result includes residential, commercial and engineering work completed in the June quarter.

Victoria took out the top spot for construction work completed, with it now 13.5% above its decade average, ahead of South Australia, 13.1% above its decade average.

In the ACT, construction work completed is just 0.04% above the decade average, while the Northern Territory is 37.2% below.

In the past 12 months, new residential dwelling starts are highest in Western Australia while Queensland and South Australia have solid results as well.

The report says construction work in the past 12 months has increased in Western Australia, Queensland, the Northern Territory and Tasmania.

Queensland is now in the top spot for home lending in the past 12 months, up by 27.4%, followed by Western Australia, up 21.5%, South Australia, 12.3%, Tasmania, 12.1%, NSW, 9.9%, Victoria, 8.8%.

Western Australia is now leading in Australia in terms of the strength of its economy, for the first time in a decade.

South Australia is a close second and Queensland is a “big mover” up the ranks from fifth place three months ago to third place.