• Mollard Property Group

“Australians are working in record numbers, particularly women” – Scott Morrison

Ahead of the Australian budget being released tonight there is countless news coverage on the topic - however we want to focus on the unemployment rate. Updated budget forecasts have revealed that the unemployment rate will drop to 3.75% by September 2022, this is the lowest it has been since 1974. In response to this, more than $11bn will be slashed from the nation’s welfare bill over the next four years.

There are 1.2 million more Australians in the work force since the height of the pandemic and 701,000 fewer people on welfare payments. There are 611,000 more people in the workforce than what was originally forecast in the October 2020 budget.

This is great news for investors wanting to cash in on the childcare sector. The increase in employment rate and in particular women in the workforce means there are less stay at home parents. This increase will inevitably continue to drive demand for high quality childcare services. This will ensure that childcare centres will continue to be one of Australia’s fastest growing commercial real estate classes. The continual Government subsidy and support for this sector makes this very attractive to investors as a secure recession proof investment with high returns.

If you’d like to find out more about investing or developing within the childcare sector, contact us to speak to one of our experts today.

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