Perth’s population grew by 1.032% in 2017
What moves home prices is demand and one variable that contributes to higher demand is population growth. Perth’s population overall grew by 1.032% to 21,094 by June 2017. Net overseas migration grew by 11,653 with 6,855 people migrated out of Perth. This is comparably low vs the boom times in 2011-2012 when it recorded a growth of 60,400 or 3.3%.
If we look back at the big mining companies in Perth, they all hit bottom around 2016 and have bounced back above 90% up to today. So while ABS’s data gives us an indication of last year’s data, Stocks give us a more forward-looking indication of where they believe the mining industry is going and with Perth being one of the big mining economies we should start to see more business activity in the sector.
If you would like to talk more about the current state of the market or if you would like a free appraisal done to your property feel free to contact me at: