ACT economy to continue booming

johnboy 27 January 2011 1

The ABC has the happy news that the hung parliament is likely to keep the Commonwealth government so paralysed that Canberra’s public service fuelled good times are likely to last:

Access Economics says the challenges ahead are mixed with new housing starts at record levels, consumer spending solid and good growth for population and jobs.

But the report says mortgage holders may suffer from interest rate rises.

Another potential threat to the ACT economy is the possibility of any Federal Government spending review.

The report says the hung parliament could act as a buffer, by stymieing any hard decisions on public sector spending.

Make hay while the sun shines.


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arescarti42 arescarti42 10:03 pm 27 Jan 11

In related news, the NAB recently adjusted its economic forecast and predicts a whopping increase in house prices of 0.4% for Canberra over 2011. Could make for some nervous speculators as they burn through money holding onto negatively geared investment properties.

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