Population growth driving WA’s economy
February 11, 2020
WA’s economy is being powered by people as the state experiences positive population growth closing the gap between WA and the national average.
The following factors are all contributing to the upswing and the slow but gradual strengthening of the economy:
- Migrant numbers are increasing.
- The number of residents leaving the state for other parts of Australia is decreasing.
- The jobs market is gaining momentum driven by the resources, finance and professional sectors.
- The unemployment rate has dropped.
- Regional domestic tourism continues to grow with a 9.6% rise from interstate tourists visiting WA.
- Iron ore prices are gaining strength.
This is a summary of the article ‘WA gets a move on, The State’s people power’ by Stuart McKinnon | Published in the West Australian | Monday, January 20, 2020 | Page 9.
Read Our Other Articles
204 Walcott Revealed
We are excited to see one of our beautiful apartments in our recently completed 204 Walcott Art Deco inspired...
Kings Park ranked by Vogue as one of the world’s top parks
Vogue magazine ranked Kings Park as one of the world’s greatest city parks, placing Perth among famous destinations...
Griffin At Realestate.com.au Market Update Event
Griffin Group’s Marketing team attended a Realestate.com.au Market Update event last week which explored the subtle but notable changes...
WA rise despite pandemic fears
Despite COVID-19 induced worries the WA property market is in a better position than many expected as sale transactions...
Perth is on the map for migrants
There has been an exciting development for migrants taking part in Australia’s regional migration program. Since mid-November, migrants are...
Export dividends to rejuvenate WA’s economy
Great news for WA as US based energy giant Chevron finally sealed its position as a long-term powerhouse in...
Househunters flocking to the city of Adelaide
The city of Adelaide is the state’s most sought-after location in South Australia with 943 property sales recently recorded...
7 reasons why WA is well positioned to bounce back from COVID-19
Finance Minister Mathias Cormann believes the WA economy will economically bounce back from COVID-19 pandemic for seven key reasons....
Perth’s property market is gaining confidence
It is good news for Perth’s property market with an increase in sales activity resulting in 40% of suburbs...
Australia, Singapore and Hong Kong lead the pack on COVID-19
Western Australia the “island within an island” as Premier Mark McGowan described it is as good a place as...