Uncertainty, the only certainty for the Victorian market
In April 2017, the Victorian gaming market, $211M, declined 2.59% on April 2016 with the decline almost evenly spread between metro, $165M, with 2.64% decline and country, $46M, with 2.37% decline.
Some researchers combine the raw expenditure of March and April to normalise the affected trading due to Good Friday trading restrictions. When March 2017 and April 2017 are combined, the Victorian gaming market declined by 2.16%, metro declined by 2.20%, and country declined by 2.01%, on March and April 2016.
The results are continuing to not show signs of growth for the Victorian market. The uncertainty of the market can be attributed to external factors linked to economic performance and housing affordability.
Not much has changed… the Westpac Australian Consumer Sentiment for April indicated that consumer confidence sentiments remain under 100 at 99.0, with Victoria at 99.1 behind Queensland at 103.0 and New South Wales at 96.5. Increase in interest rates to investor and owner-occupied loans also occurred in April. With the combination of an increased unemployment rate at 6.1%, it can be expected that disposable income has tightened.
Of the regions, seven metro areas and six country areas increased in expenditure. Mitchell, Cardinia and Whittlesea (with expectation of January 2017), have continued since April 2016 to have a positive movement in expenditure in April 2017. Port Phillip and Mildura have positive growth in April, the fourth time and third time in 13 months respectively. Swan Hill increased the most, 11.6%, amongst country LGAs and Whittlesea increased the most, 4.6%, amongst metro LGAs.
For best results view this interactive map in a Google Chrome browser