Understanding Western Australia's Migration Trends and Economic Recovery
Introduction:
Western Australia (WA) has historically been a significant destination for overseas migration, receiving around 13 percent of the national net overseas migration—a figure slightly higher than the state's percentage of the national population. However, the dynamics of migration have fluctuated over the years, influenced by various economic factors, particularly during the resources boom.
Migration Trends during the Resources Boom:
Peak Migration: During the peak of the resources boom, WA experienced a surge in net national overseas migration, nearly doubling to 24 percent in 2012. This influx of migrants was driven by the demand for labor in the booming resources sector.
Decline: As the investment boom began to ease, WA's share of net national overseas migration declined to 15 percent in 2013. Economic conditions and fluctuations in the resources sector contributed to this decrease.
Interstate Migration: Net interstate migration also played a significant role during the resources boom, reaching a high of 10,803 in 2012. However, by 2017, there was a net outflow of 12,818 people as economic conditions in other states improved relative to those in WA.
Economic Recovery and Migration Trends:
Arrival Resurgence: Despite the downturn in migration during the post-resources boom period, @AussieOSGlobalMobilityServices began to observe an increase in arrivals from late 2017 onwards.
Rental Property Market: With a notable decrease of 30 percent in vacant residential rental properties compared to the previous year, WA's economy is showing signs of recovery. This decrease indicates renewed economic activity and growing demand for housing, aligning with the uptick in migration.
Conclusion:
The migration trends in Western Australia have been closely tied to the economic fluctuations, particularly during the resources boom and its aftermath. However, recent indicators suggest a positive trajectory, with signs of economic recovery and a resurgence in migration. As WA continues on the road to recovery, AussieOS remains committed to supporting individuals and families through their relocation journey, providing expert guidance and personalised assistance every step of the way.
Source: http://ow.ly/LJLp50jiiBl