WA Population and Property Boom?

If you have been checking out the press in the past week you would have seen two recent releases that highlight the current and future direction here in WA.  Firstly was last Tuesday’s release by the Australian Bureau of Statistics for population projections for capital cities, states, and the country out until 2101 – it is some interesting reading – as you can see below WA’s future population is forecast to continue growing relatively rapidly over the next 50 years…

WA Population chart

Secondly the Real Estate institute of Western Australia (REIWA) released figures showing the increase in property prices in WA has hit record highs.  I’ve put together the September 2013 prices in the map linked below:

REIWA Property Prices September 2013

Interesting to see the difference in the median house price (above) and the variation in the price over the past 12 months (below). Note Crawley is the ‘purple patch’ of 130% growth in the past 12 months…

REIWA Property PricesSo what does this all mean?

Population Growth is here to stay and we need to be planning on how to build the Perth of the future today… with another 900,000 to 1.3 million people expected by the time we hit our bicentennial (2029)…

Perth in 2029

At least it looks like we might have sea planes back on the Swan by then!

No time for sitting on hands – planning now for our future is a critical issue to be addressed.

Tom

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