WA’s population pressure squeezing the rental system
Population data recently released by the ABS for the Year to March 2012, show Western Australia’s population growing at 3.1 per cent or 73,300 people.
This is the highest recorded annual increase and level with the year to December 2008.
This figure is driven by a record quarterly increase in WA’s population of 23,300 and is part of a renewed surge in our population since late 2010 when the annual growth rate had dropped to 2.2 per cent or just over 49,000 people.
While this particular data is now six months old, REIWA’s ongoing weekly monitoring of properties available for lease suggests the strong growth trend remains, but we will be in a better position to confirm this in another six months.
The trend since December 2010 is that WA is taking a larger share of the overseas migrant intake which hit a record quarterly rise of 14,800 people, the highest since quarterly records have been published since June 1981.