The capital city’s Economic Outlook shows expected growth this year as pandemic recovery continues.
The capital city says the number of housing starts is expected to increase by about 6.7 per cent to 580 units in 2022, equating to a nearly 21 per cent increase compared to pre-pandemic levels in 2019.
GDP, excluding oil and gas, is expected to rise by about 1.5 per cent.
Mayor Danny Breen says household income is expected to rise by 3 per cent as well, with pent-up demand behind a forecast 4.2 per cent increase in retail growth.
The population of the capital city region is also expected to rise slightly to 216,833 this year.