WA Property News
Perth is witnessing a remarkable period of growth, driven by a significant influx of residents and a subsequent rise in property prices.
Fuelled by Australiaā€™s strongest state economy and the attractions of a major modern city, including new rail and road infrastructure, itā€™s easy to see why more families are moving west to take advantage of Perthā€™s fantastic lifestyle and employment opportunities.
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Perthā€™s Population Surge
According to Australian Bureau of Statistics (ABS) data, in March 2023, Perthā€™s population reached an unprecedented 2.855 million, marking the most rapid growth nationally. Concurrently, the rental market tightened further, exhibiting a historic low in vacancy rates.
This growth comes on top of existing high levels of inbound migration. Western Australia experienced a population growth rate of 2.3% in 2022, surpassing the national average of 1.9%.
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