* Tourism, mining jobs slashed in boom states
* Centrelink inundated with jobless
* Queensland, Western Australia hardest hit
QUEENSLAND is leading a spike in unemployment around the nation as the impact of the global financial crisis and end of the mining boom bite hard into the real economy.
Centrelink agencies are being swamped with applications for unemployment benefits as the downturn slashes jobs in tourism and mining.
Meanwhile, figures released yesterday in Western Australia detail an economy showing the last gasp of a mining boom that has helped to underwrite two decades of national prosperity, The Australian reports.
In just four weeks, the number of short-term unemployed in Queensland leapt by 18.7 per cent, compared with a 13.5 per cent increase across the rest of the nation.
The swift rise in people looking for work has the potential to be politically explosive for Queensland Premier Anna Bligh, who is fighting an early election campaign amid Opposition accusations she is running to the polls ahead of the full effect of the global financial crisis.
The jobless surge could cost Labor up to six marginal seats and dash its hopes of winning two Liberal National Party marginals.
While there is always a jump in the number of unemployment benefit claimants at the beginning of a year, new figures from the Department of Education, Employment and Workplace Relations show the number of jobless in Queensland is 45.4 per cent higher than it was at the same time last year.
The number of jobless has soared by 40.5 per cent in WA, which is suffering from the collapse of the mining boom. There have been smaller increases in the southeastern states, with rises of 25.7 per cent in NSW, 25 per cent in Victoria, 15.7per cent in South Australia and 22.4 per cent in Tasmania
Meanwhile in the real world ......
http://www.news.com.au/business/money/stor...1-14327,00.html
" House prices to keep rising for years " - yup sure they are mate .....
Of course the WORLD isn't facing it's first credit contraction in 60 years.
Totally agree NC. ------------------------------------------->
Isnt knife catching such a fun sport ?
http://www.realestate.com.au/cgi-bi...r=&cc=&c=26312396&s=vic&snf=rbs&tm=1235863128
i know trembling hand will love the description "premium st kilda hill location"
sold for 1.47m Beej which looks as though you are right that things are moving through the middle and higher ranges as well,
http://www.townsvillebulletin.com.au/article/2009/01/21/34065_investor.htmlJust as a comparison my mate bought a 2 story 4 bedroom brick home on the Central Coast for 335K.
TOWNSVILLE has been named among most unaffordable places in which to live in Australia.
Skyrocketing property prices are eating up more than half of buyers' incomes on mortgage payments.
But frankly, wait another year and make an offer for 400k ;-)
It was expected unfortunately, I have no regrets in purchasing my rights issues in WBC @ $15.22. I will hold this stock for many years to come.
Also funny thing, ANZ shares jumped on the news
I just put in an offer for $650,000 (cash) on a unit, where the vendor wants $894,000... we'll see.
This was originally an interesting exercise and I was mightily surprised it was accepted.
and this comment below, made with some jest by knocker may be on the mark
But frankly, wait another year and make an offer for 400k ;-)
Just out of curiosity, you are negative on shares, negative on property and negative on the price of gold, are you always this happy? Or are you just happy being negative?:
New home sales surge
New home sales jumped in January as buyers responded to interest rate cuts and the Federal Government's stimulus plan.
Sales of new homes, including multi-unit dwellings, gained by nationally by 8% in January, the Housing Industry Association said, reversing a 1.1% fall in December.
So to me, for Townsville, that type of money seems really high, and therefore possibly very risky, as how many people are around to drive/sustain prices at that level for that type of property? In Sydney the demand is clear and constant for say Bondi or Coogee - will that be the case in FNQ at that price level?
wow...that price for Townsville ??? its just a big old country town imo...
Had a second email back from the $990,000 offer on the other unit we were interested in.
Just got an email back saying they would get me a contract on Monday ! I guess this means they will hope for a better offer this weekend !
Well now we will have a choice:
- Unit for $650K down from $809K asking (brand new, cash deal)
- Unit for $1Mil down from $1.7Mil asking (two of the 4 have been sold at $1.7 Mil, 2 left to sell, brand new, cash deal)
- or keep the status quo, leave my cash as cash and ivest as I see fit.
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