Wednesday, August 1, 2012

CairnsWatch July

The HTW CairnsWatch report for July has been posted with comments from Rick Carr.
"The Cairns economy continues to suffer from a weak labour market despite its tourism
and construction indicators continuing to improve."
This months charts also include revised population data from ABS following the census. Key points:
  • Population growth estimates since 2006 revised down.
  • Number of people employed in Far North down by 5,400 over the year.
  • Trend unemployment to 9.2% with job ads weak.
  • Trend passenger growth at domestic terminal continues while international subdued.
  • Tourism accommodation occupancy improving.
  • Median price for established units down 7.7% YoY and now close to median for vacant land.
  • Vacancy rates for units and houses now at 2.0% and 1.9% respectively and falling.
  • Building approvals showing some improvement from low base.

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