“Follow the jobs growth.”
According to Pete Wargent from Property Observer, it’s one of the best pieces of advice he has received when it comes to property investment.
Statistics in Australia are showing a marked shift in employment towards knowledge and service based industries.
And when it comes to knowledge and service based industries, it means more jobs in the centre of our capital cities.
Although our capital cities hold around 60 per cent of the population, statistics from the Australian Bureau of Statistics’ Detailed Labour Force data show over the last five years, a much higher 77 per cent of jobs added to the market have been in the nation’s capital cities.
The statistics are not only showing the jobs structure shift towards capital cities and centralisation, but also that the rate is actually accelerating.
The only regional area to show meaningful jobs growth was in Queensland, with areas such as Gold Coast/Tweed Heads, Sunshine Coast, Toowoomba, Cairns and Townsville doing well.
As time goes on, the stats continually show Australian capital cities becoming more and more the job and population growth magnets of the country and investors like Mr Wargent will surely be paying close attention.