State of Markets - SA January 2013

Fast figures

• 727,676: Number of households (ABS)
• 27.7%: Households whose weekly earnings are less than $600 (ABS)
• 2.3%: Residential vacancy rates, southern SA (SQM)

“No better time to buy”
South Australians are being called to embrace historically low interest rates and unprecedented government assistance to build or buy a new home.

The Property Council of Australia is joining other government and local industry groups to encourage activity in South Australia's property market.

"Put simply, there's no better time to buy," said Property Council (SA division) executive director, Nathan Paine. "Regardless of whether you're a first homebuyer, an investor, an upgrader or a downsizer, this is an amazing opportunity.

"Interest rates are around the lowest they've been in a generation, and combined with the state government's Housing Construction Grants, it's more affordable to build or buy a home now than it has been for years.”

10-year strategy to transform manufacturing
Premier, Jay Weatherill, has launched a strategy to reform the manufacturing sector and secure jobs and investment in high-value manufacturing.

The 10-year Manufacturing Works strategy sets out a series of new programs to respond to the economic conditions that threaten to erode the manufacturing industry.

“South Australia’s manufacturers employ more than 73,000 people and are operating under conditions which have dramatically changed – particularly because of the high Australian dollar,” Mr Weatherill said.

“We need to compete with other countries by making products that are niche, high-value products, rather than cheap products, made by workers on low wages.

“Under our advanced manufacturing strategy, we will grow high-tech precincts, with clusters of small businesses coming together to share knowledge and ideas.”