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
PROJECT UPDATE // Loft Haus
Did someone say demolition! The Griffin team are very excited to see that earlier this month demolition started and...
Apartment sales stable for WA
Perth has yet to be impacted by low apartments sales compared to the east coast where in recent weeks,...
“Royal Hotel” Perth landmark restored
A piece of Perth’s history was finally unveiled last Friday with the grand re-opening of the restored “Royal Hotel”...
A SAFE AS HOUSES PERTH MARKET BRINGING BACK THE INVESTORS
March has seen lending for housing investments in WA surge to a whopping $462 million continuing its five-year high...
FEDERAL BUDGET TO REVEAL WAY FORWARD FOR AUSTRALIA’S ECONOMY
It is officially 34 days until the Federal Budget! This means we only have 34 days to wait for...
Perth’s resilient property market
The residential property market is showing more resilience to the pandemic induced instabilities than initially predicted primarily due to...
PERTH’S MEDIAN DWELLING PRICE CLOSE TO RECORD HIGH
The median value of a Perth dwelling is tracking towards a new all-time high. Amid Australia’s dramatic price slowdown...
WA IS AHEAD OF THE VIRUS – $1 BILLION AHEAD TO BE EXACT
The WA mining industry’s success in trading continuously through the coronavirus pandemic could give WA a market advantage by...
Property prices boom in Melbourne and Sydney
Developers have been pushed to start bidding for housing project sites again as property prices have increased by a...
WA CONTINUES TO KEEP THE NATIONAL ECONOMY STRONG
WA has recently been viewed as a drag on the ‘national interest’ of Australia due to the state’s hard...
