Population growth to keep powering Perth property prices upwards
Western Australia's rental and real estate markets look likely to remain red hot as the number of people entering the state outstrips the building industry's ability to provide new homes.
Strong population growth in Perth will maintain demand for housing in the sales and rental markets. (Image source: Shutterstock.com)
Demand for housing will continue to outstrip supply in Western Australia as new data showed the highest rate of annual population growth since 2009.
WA’s population grew 3.3 per cent to 2.905 million in the year to September 2023, according to Australian Bureau of Statistics (ABS) data.
This equated to 93,591 more people, or around 37,000 extra households over the 12-month period.
The largest contributing factor to the state’s growth remains n…
