South Australia has achieved a historic milestone, named the nation’s top performing economy for the first time, according to CommSec’s quarterly State of the States report, released today.

Leading in four out of eight key economic indicators, South Australia rose above all other states and territories thanks largely to strong construction activity and jobs growth.

Specifically, South Australia ranked number one in:

• economic growth
• unemployment
• construction work
• dwelling starts

CommSec summarised South Australia’s construction indicator results:

“South Australia is now in the top spot for construction work done, up from third. Construction work done is 23.4 per cent above its decade average, ahead of NSW (18.3 per cent above the decade average).

“Population growth in South Australia has tripled over the past two years, which is showing up in a strong housing market and overall economic activity.”

South Australia’s had the highest economic growth rate among states, soaring by 3.8 per cent, while its unemployment rate of 3.6 per cent is a record low.

This is the first time South Australia has ranked number one in the report’s 15-year history.

Executive Director, Residential Project Delivery and Assets, Shane Wingard said the amount of construction work and new builds commencing in South Australia was pleasing and that Renewal SA was committed to continuing to deliver a pipeline of opportunities for industry.

“Renewal SA has a number of large scale residential and industrial developments underway and in the pipeline across the state that will continue to provide scope for economic growth,” Mr Wingard said.