'Hot' investment potential in WA
The weather is not the only thing heating up Western Australia. Construction projects in the state ...
The weather is not the only thing heating up Western Australia. Construction projects in the state account for one-third of all of Australia's planned or current projects, according to a report released by the Deloitte Access Economics December quarter 2011 Investment Monitor.
As the temperature reaches record highs, the investment funds continue to flow to the region.
State treasurer Christian Porter acknowledged the pressures of global financial markets but stated: "Western Australia continues to lead the nation with solid investment growth."
The January extremes, reaching as high as 48.4 degrees in Forrest, has not phased the work effort, with $89.5 billion worth of projects already under way. Adding 'committed to' projects to the number equals $140.1 billion put towards a range of facilities including infrastructure, health, transportation and entertainment.
Much of the economic potential in the area comes from the natural resources sector, with mining projects in Australia accounting for 46 per cent of the nation's total investment.
If you are looking into residential real estate and love a hot summer, WA might be just the place to invest in property.