Top Performing State Strong construction activity and employment figures have boosted South Australia’s economic performance to top spot, according to the latest CommSec State of the State Report.
It is the first time the state has made it to the top spot in the report’s 15-year history. It was the highest ranking state for four of the report’s eight key economic indicators – real economic growth, unemployment, construction work and dwelling starts.
It overtook Victoria to be the strongest performer.
CommSec chief economist Craig James says population growth in South Australia has tripled in the past two years. He says it is showing strong housing market activity as well.
The report shows Queensland had the highest number of home loans.
According to Domain, listings in Adelaide are down by 1.3% compared to the same time last year.
Its latest quarterly House Price Report shows Adelaide had the highest median house price growth of 12.7% in 2023. Its unit market was also the strongest performer with its median up by 13.2%.
