Skip to main content Skip to footer

WA's Time to Shine Report

WA report stock

Placing the spotlight on opportunities across Australia’s western gateway

Colliers has released its latest research industry report covering the strength of the Western Australia economy and highlighting the top 10 reasons to invest in WA.

Over the last two years, the WA economy has shifted gears and has outpaced the rest of Australia in its economic recovery over the course of the pandemic. WA is becoming a significant investment destination for global capital, known for its diverse natural landscapes, climate and unique lifestyle. Anchored by a robust resource sector that is currently fuelling a global recovery, the economy is underpinned by flourishing industries. These are just some of the major drawcards for investors, residents, workers and visitors.

The report explains several key areas of focus including WA being an international hub for resource production and mining, growing demand for commercial office space, growth in the industrial and logistics sector, rising investment in international education and an emerging focus on agriculture, to name a few. The State is undergoing a resurgence on the back of significant growth and infrastructure investment.

Research Manager for Colliers WA, Yashwini Halai said the report reinforces WA’s resilience and key industries that are of focus in the current market. “Despite the challenges faced over the past two years due to the pandemic, WA has shown resilience and is the strongest economy in the country. Population growth is expected to increase incrementally over the coming years, we currently have the lowest unemployment rate in the country at 3.1% and with significant infrastructure investment, there is a lot of opportunity in Perth.

Over the past 6 months we’ve seen the Perth office market improve significantly with workers coming back into the city. Over 72,000sqm of office space is projected to come into the market.

by 2024 across Premium and A Grade buildings highlighting the current confidence major developers have in deploying capital to Perth. Colliers National Leasing Director, Jemma Hutchinson said, “Perth CBD is growing up and building out Elizabeth Quay, which will help transform it into the buzzing, vibrant precinct it has the potential to be,” says Colliers’ Jemma Hutchinson. “Mooted developments are on the rise with a number of projects closer to fruition, as demand soars across the CBD for good quality office space.”

Retail sales have increased by 10% YoY in April 2022, with Headline Clothing (21.5%), Pharmaceuticals (19.5%) and Electronics (18.7%) ranking as the top three retail categories (ABS).

Colliers' State Chief Executive | Western Australia, Richard Cash said “There’s a 50 to 100 basis point advantage for purchasers who look west for their shopping centre investments. We are expecting in excess of $1bn of shopping centre investment activity for 2022. With the borders now open, we are seeing strong interest from South East Asian clients looking to act on opportunities presented.”

Investment volumes for industrial and logistics assets in Perth were at their highest level on record during 2021 with approximately $1.9 billion trading up from $170 million in 2020. The outlook for demand in 2022 is favourable with the continued expansion of key industries including transport and logistics, retail trade and manufacturing where commercial property investors are looking for warehouses and larger storage facilities.

Mr Cash said “WA has a strong value proposition which investors now have untapped access to. Investors who are are looking to WA for their next purchase are providing great feedback and have expressed confidence in the outlook of the WA economy. For the remainder of 2022, Colliers are anticipating increasing sale volumes across all sectors within the WA property market, continuing the momentum and appeal to all forms of investor groups.”


Related Experts

Richard Cash

State Chief Executive | Western Australia

Perth

Richard joined Colliers in 2022 as State Chief Executive of our WA business. 

Richard has over 20 years’ experience in the Perth property market having held leadership positions in several major agencies and corporates. He is highly respected across the industry and leads our Western Australian team to maximise local opportunities across the national and Asia-Pacific landscape.

As State Chief Executive Richard is responsible for driving the growth of our Western Australian business across all service lines and asset classes. He is also a member of the Australian Executive Leadership Team responsible for the overall strategy and growth of the Australian business.

View expert

Joanne Henderson

National Director | Research

Sydney

Joanne has over 15 years of experience working within property research and specialising in property data.  Having previously managed a real estate data product with over 70 subscribers, Joanne has a strong track record of maintaining client relationships as well as delivering quality real estate data and insights.

Joanne leads and manages the Colliers Edge product which is the Colliers premium research data product for clients. Her role also includes maintaining and improving data management systems that the Research and wider business teams use to store and utilise our valuable datasets.

View expert

Dean Johnston

National Director | Valuation & Advisory Services

Perth

Dean leads the Valuation & Advisory Services team in Western Australia and over the past 16 years has provided valuation and strategic advisory services to a diverse range of market leading listed property trusts, financial institutions, developers, syndicates, private investors, Commonwealth and State government agencies. 

Dean’s areas of expertise are providing valuation advice in the property development, office, industrial and healthcare sectors. Dean has been recognised as a market leading valuation consultant in Western Australia over a long period of time and regularly assists our clients with new acquisitions, identifying key redevelopment opportunities and providing forensic analysis of key value drivers using detailed and bespoke discounted cash flow simulations and associated scenario analysis.

Dean is passionate about infill redevelopment and land use efficiency; and in recent years, has been engaged as the lead property consultant on a range of high profile and complex redevelopment projects that continue to shape the landscape of Western Australia. As part of these projects, Dean has worked collaboratively in teams with other market leading consultants and provided valuation advice, land use recommendations and redevelopment strategies that are underpinned by urban economic principles and robust development feasibility testing.

View expert

Jemma Hutchinson

National Director | Office Leasing

Perth

Jemma joined Colliers in 2022 with over 10 years of commercial leasing experience. Jemma relocated to Perth in 2017 from Melbourne, where she was recruited to build and create an internal leasing business at Primewest and bring Office Leasing in house, after building a strong reputation in office leasing.  

In 2019, Jemma was promoted to National Leasing Manager, following her transacting over 60,000sqm nationally of office leasing deals on behalf of Primewest and their institutional, corporate and private clients.

Jemma strives to exceed all client expectations and ensures she is always providing the highest level of client and customer service. She has a detailed knowledge of the leasing market which has resulted in many successful outcomes for her clients.

Jemma has been involved in successful leasing campaigns at One William Street and Exchange Tower on behalf of GIC (40,000sqm) and now 140 St Georges Terrace (29,000sqm) on behalf of Primewest/Blackrock.

Jemma is a major transaction and pre-commitment specialist in Perth having been involved in an array of large-scale building refurbishments and developments. Jemma concluded a deal with the Federal Government Services Australia to build their new office HQ of 4,500sqm down in Bunbury.

Jemma has led major appointments across the Perth CBD and WA including, Exchange Tower, One William, 140 St Georges Tce, Australia Place and 111 St Georges Tce along with three pre-commitment development opportunities.

Jemma was awarded the PCA WA Office Agent of the year in 2019.

View expert