WA FIFO jobs to fuel Perth property market
West Australian FIFO jobs are set to fuel the Perth property market as the mining giants give the local jobs to locals and those relocating to WA.
BHP has just announced it will preference West Aussies for jobs and require interstate workers to permanently relocate to WA for the duration of the job.
This is good news for Perth on several fronts. More workers coming in from interstate to live and work means more pressure on rents and purchase prices of homes, helping the positive trend that has already started in Perth.
It also means a boost to employment for West Australians, helping to keep our job rate up.
Meanwhile the second largest mining company, Rio Tinto, announced 300 new jobs with relocation packages to WA, giving further support to our local economy.
The additional money earned in WA by both West Australians and incoming families relocating to WA will be spent in WA and likely mostly in Perth.
Mining workers are generally on high incomes and their buying and renting of homes and raising families in WA helps drive the local economy and property market. Each family needs many goods and services and the growth of the businesses supplying these goods and services further stimulates the local economy.
This is all good news for Perth property owners and those considering buying.
WA premier Mark McGowan said BHP has set the benchmark and other mining companies must now follow suit.
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