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
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...
Scarborough | A Great Place To Live And Play
“whether it is watching the sunset over the Indian Ocean, grabbing a bite at the many cafes or restaurants,...
China to bring economic growth for Australia
Industry experts believe China is Australia’s best bet in leading the nation towards the path of economic stability and...
WHAT MAKES AN APARTMENT DEVELOPMENT ‘BOUTIQUE”?
Boutique Apartments and townhouses are a growing trend in Perth, on the east of Australia, and abroad. The word...
Millennials jumping into the property market
Young Western Australian‘s have experienced a significant savings boost due to the lock down measures decreasing their spend on...
Employment rate rising indicating economic recovery
The first signs of an economic recovery have surfaced with the Tax Office payroll data showing approximately 124,000 jobs...
RESIDE ON MONEY KICKS OFF
This week our beautiful Reside on Money project officially kicked off into construction phase with commencement of boring works...
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...
CoreLogic Report | November
CoreLogic’s recent data has been released. See the summary for November below: CoreLogic’s national Home Value Index surged 1.7%...
BHP to raise Iron Ore export capacity
BHP is looking to increase its Western Australian iron ore export capacity from Port Hedland by an extra 40...