Why invest in NSW?
Sydney is Australia’s largest city, and is consistently ranked among leading international destinations. A city with strong consistent growth over the last 23 years, surrounded by nature and immersed in culture and lifestyle. Sydney is a world leader in professional and financial services, and attracts strong investment to its major industries from all over the world.
NSW holds the top spot for the best economic performance of all the states and territories in Australia. This ranking is from the October 2015 edition of the CommSet State by State Report. It shows that NSW has the highest ranking on four of the eight indicators; retail trade, population growth, housing finance and dwelling starts.
NSW holds a Triple A credit rating—the gold standard for world economies, and has maintained the status for over 23 years.
The October 2015 CommSet State of the State Report shows that NSW has the third fastest annual population growth at 1.35% and this is 7.1% above its decade average. NSW is the only state to be increasing above its decade average and shows no sign of slowing down.
Population projections show that NSW will grow by 100,500 people on average every year to 2031, which means an extra 2 million people within the next 15 years.
The NSW government has released a plan to turbocharge NSW. This plan is to invest $20 billion in new productive infrastructure which will create more than 100,000 jobs and will boost the economy by around $300 billion with-in the next 20 years.
Last year more than 70,000 people moves to Sydney and the rate of immigration is not slowing down, this is putting pressure on the existing housing stock and therefore there is an increase in new home construction to try to meet the growing demand. CommSecs Stat of the States Report for October 2015 shows that NSW is the strongest state in our nation in terms of new home construction. In the June 2015 quarter the number of new dwellings started was 11.4% higher than the year before.