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5220.0.55.002 - Information paper: Gross State Product using the Production approach GSP(P), 2007  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 14/09/2007  First Issue
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PROPERTY AND BUSINESS SERVICES

Definition and scope

The Property and business services industry includes all units mainly engaged in renting and leasing assets as well as units engaged in providing a wide variety of business services.


ANZSIC Division L, Property and business services, consists of two sub-divisions:

  • Property services (sub-division 77)
  • Business services (sub-division 78).


Summary of GSP(P) sources and methods

The methodology for Property and business services uses an output indicator approach to compile state by industry GVA estimates. The output volumes then form the basis upon which volume measures of value added are derived.


From 2001-02, Property and business services current price estimates, by state, are sourced from QBIS. The national Property services and business services deflators, sourced from PPI, are used to form output indicators as no state deflators are available. The Property and business services output volume indicators are then used to derive volume estimates at the division level. The volume output measure is then backcast to 1989-90 based on hours worked series from ABS Labour Force, Australia. The state volume GVAs are benchmarked to the annual national industry volume GVA.



Results for Property and business services

Property and business services gross value added(a), Chain volume measures(b)

2000-01
2001-02
2002-03
2003-04
2004-05
2005-06

Values ($m)

New South Wales
40 622
40 378
41 471
42 837
42 322
41 574
Victoria
25 874
26 829
27 354
27 072
27 385
28 735
Queensland
10 091
11 580
12 357
14 217
15 233
17 500
South Australia
4 736
5 202
5 355
5 633
5 409
5 061
Western Australia
8 378
9 783
10 473
10 120
10 348
10 886
Tasmania
708
656
654
802
874
826
Northern Territory
239
365
459
662
870
1 166
Australian Capital Territory
2 235
2 324
2 214
2 176
2 333
2 686
Australia
91 855
96 518
99 835
103 409
104 773
108 434

Percentage changes from previous year (%)

New South Wales
10.8
-0.6
2.7
3.3
-1.2
-1.8
Victoria
1.0
3.7
2.0
-1.0
1.2
4.9
Queensland
8.9
14.8
6.7
15.1
7.1
14.9
South Australia
4.0
9.8
2.9
5.2
-4.0
-6.4
Western Australia
5.4
16.8
7.1
-3.4
2.3
5.2
Tasmania
6.0
-7.4
-0.3
22.6
8.9
-5.5
Northern Territory
-23.8
52.9
25.7
44.4
31.3
34.0
Australian Capital Territory
11.8
4.0
-4.7
-1.7
7.2
15.1
Australia
6.8
5.1
3.4
3.6
1.3
3.5

(a) At basic prices.
(b) Reference year for chain volume measures is 2004-05.

Property and business services gross value added(a), Chain volume measures(b)-Percentage changes
Graph: Property and business services gross value added(a), Chain volume measures(b)–Percentage changes


Property and business services gross value added(a), Chain volume measures(b)-Percentage changes
Graph: Property and business services gross value added(a), Chain volume measures(b)–Percentage changes


Property and business services gross value added(a), Chain volume measures(b)-Percentage changes
Graph: Property and business services gross value added(a), Chain volume measures(b)–Percentage changes


Property and business services gross value added(a), Chain volume measures(b)-Percentage changes
Graph: Property and business services gross value added(a), Chain volume measures(b)–Percentage changes



New South Wales exhibited a similar growth pattern to Australia throughout the time series except for 2001-02. The Northern Territory had strong growth in 1998-99 and from 2002-03 onwards, which was due to a number of major construction projects being undertaken. Queensland has had high growth in the last five years. In 2005-06, New South Wales, South Australia and Tasmania all experienced negative growth of -1.8%, -6.4% and -5.5% respectively.

Property and business services gross value added, State shares - Current prices

1989-90
1994-95
1999-00
2003-04
2004-05
2005-06
%
%
%
%
%
%

New South Wales
39.7
40.1
41.8
40.8
40.4
39.0
Victoria
27.6
25.8
26.8
26.5
26.1
26.6
Queensland
13.0
13.7
13.2
14.0
14.5
15.1
South Australia
6.2
6.5
5.4
5.2
5.2
5.0
Western Australia
8.8
9.3
8.9
9.6
9.9
10.5
Tasmania
1.4
1.1
0.8
0.8
0.8
0.9
Northern Territory
0.7
0.8
0.7
0.8
0.8
0.8
Australian Capital Territory
2.6
2.6
2.4
2.3
2.2
2.2
Australia
100.0
100.0
100.0
100.0
100.0
100.0


New South Wales and Victoria together accounted for 65.6% of Australian Property and business services GVA in 2005-06. The state shares for these two large states and the Northern Territory were fairly stable throughout the time series. During this period, South Australia, Tasmania and the Australian Capital Territory marginally decreased their shares, while Queensland and Western Australian shares were stable until 1999-2000 and then gradually increased.

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