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.

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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