Housing markets begin with people.
More specifically, they begin with working-age households who have the confidence, income and opportunity to participate in the labour market.
Each quarter I rank Australia’s local government areas (LGAs) by the growth in their labour force over the previous 12 months. I do this to keep my consultancy database up to date.
The ranking adjusts for changes in unemployment and measures the increase relative to the size of each area’s existing workforce. The result provides an early indication of where economically active Australians are choosing to live.
There are some real surprises this year.
The biggest labour market surprises aren't in the capital cities. Paid subscribers can see the full Top 30 table and what it means for property.