Resources still pushing market
The resources industry is still pushing the Perth CBD market forward, particularly in terms of employment, according to recent research.
More than half of office space currently used within Perth CBD is being occupied by resources companies, Y Research’s November Perth CBD Office Census has revealed.
For investors considering blue chip and executive property in Perth, this may mean that any downturn in mining is a significant concern.
This total figure includes companies serving the resources industry, including engineering, construction and transport. The four major companies (including BHP Billiton and Rio Tinto) account for 53 per cent of all leased ‘premium’ space.
Colliers second half of 2012 report into Perth’s office space noted that, “Investment-led economic activity in WA has persisted, despite a reported slowing of economic growth in China and a recession-hit European Union, where German economic activity seems to also be slowing.”
However, the report also predicts a dip to 2011 figures in mid-2013 in “Perth CBD & west Perth white collar employment growth” before a pickup in January 2014.