Propertyology is constantly studying employment trends and locations for future growth potential. We thought we’d share this graph with you to illustrate some trends. This graph focuses on the state of Queensland.
* Australia was once renowned for its farming and ‘making stuff’. In 1985-86, agriculture and manufacturing represented 8.1% and 12.2% of total employment respectively whereas these industries now represent 2.4% and 7.7% of jobs
* Mining is a major revenue generator for government and business coffers, although it is not a big direct employer. Mining jobs have grown from 1.9% to 3.4% since 1985-86
* The biggest employers are tourism (419,100 Queenslanders in retail trade + accommodation), health care (282,600), construction (230,700), manufacturing (178,500), and education (176,400)
* The industries with the biggest employment growth since 1985-86 are health care (from 8.0% to 12.1%) and white collar professional services (3.8% to 7.1%)
Casting our mind to Australia’s core assets and the role which this country plays in the Asian Century, Propertyology believes that the industries with the biggest potential for employment growth are
* Tourism (retail trade and accommodation)
* Education (international students)
* Construction (hotels, apartments, infrastructure, resorts)
* Health care (our aging population)
Australian towns and cities which have a strong presence in these industry sectors will have increasingly high demand for accommodation.
Property markets are just as scientific as share markets; it’s what we call PROPERTYOLOGY.