Samantha Reece, PropertyESP Director recently spoke at the Perth Property Expo about why the West was the best investment option nationwide.
In preparation for her dialogue, Samantha undertook her usual research and found some very interesting facts:
- In the 2016/17 year iron ore revenue from WA increased by 31% to $67.3 billion
- In the same period gold broke the 200 mark, which hasn’t occurred since 2000/2001 – selling 205 tonnes
- Tourism grew by 1.3%
- Building approvals increased by 27% from just August to September 2017
- Unemployment rate fell to 5.7% on par with the nations average
- Consumer confidence has reached an all-time three year high
- And 30% of the population believed that the economy would strengthen in the next year while 41% believed it would stay the same
This coupled with the avalanche of new infrastructure, about to descend upon Perth including:
- $65 million Yagan Square
- $400 million redevelopment of QV1, Forrest Chase and Raine Square
- $1.6 billion Perth stadium
- $500 million Canning City Centre and Carousel expansion
- $2.65 billion Metronet
- $200 million Murdoch medical precinct
- $235 million Canning Hwy/Bridge redevelopment
And there is no doubt that that Perth is about to transform from a City, into a cosmopolitan capital.
Certainly in ten years Perth will be entirely different City and its evolution will create more opportunity and diversity.
We however, need to be aware of just how much WA has got going in its favour – and while it can not compare to the 2011 boom time – it is certainly showing signs that are extremely positive – and it is this good news, that we should be celebrating publicly! Spread the word!