Friday, March 15, 2013

Hunter economy to grow by $28 billion

Hat tip to Craig Wilson@mediahunter for this one.

A report by Deloitte Access Economics, Prospects and challenges for the Hunter Region – a strategic economic study, prepared for Regional Development Australia Hunter (RDA Hunter), forecasts growth in the Hunter Valley economy of almost 75% by 2036, up $28 billion. The Hunter claims to be Australia's largest regional economy, producing 80% of NSW’s electricity with 40% of the state’s coal resources. The press release summarising the report can be found here.

In parallel news, the Newcastle Herald reports that the Hunter rental market is tightening, with the proportion of properties available to lease contracting from 2.6 per cent to 2.3 per cent in just one month. Coal prices may be down just at present, but along the coal chain that runs from the Lower Hunter up into the Liverpool Plains, the growth of the industry has placed great strain on local rental accommodation.

In somewhat related news, the Australian Bureau of Statistics has released an analysis of RDA plans across Australia. It's not very useful. Australia is such a varied country that this type of summary tends not to tell us much. Still, you may find it useful.  

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