Sentiment in the Perth retail market has shifted; after several years of pain in the wake of the state’s mining boom which pushed the state’s economy into turmoil, impacting labour markets, population growth, wage growth and overall business and consumer sentiment, green shoots have begun to emerge with renewed activity (albeit small) in the resource sector, growth in labour markets and forecast population growth increases over 2018. WA’s population growth has begun its long return to ‘normal’ levels, with the last 12 months posting the first quarters of growth since before the boom. Forecasts show this growth to continue, albeit slowly, over the medium to long term, which will certainly aid in the recovery of the state’s economy.

A further boost to the economy has been provided by increased infrastructure around the State, including the Forrestfield-Airport train link and the new Perth Stadium and its surrounding transport networks. The resource sector has been boosted by the recent improvement in the iron ore spot price to around US$75/t (in March); approximately 35 new and expansion projects have been announced in the state since June 2016. The historical low interest rate environment has helped reduce some of the risk surrounding the shifting economy and the lower Australian dollar is also having positive effects for the WA economy in aiding long-term growth and stability in Perth’s property market and increasing the attractiveness of the State’s assets to foreign investors.

The CBD is arranged over a grid system from East to West. Murray Street Mall, Hay Street Mall, Hay Street and King Street make up the retail precinct. The dominant shopping centres are Westfield Garden City, Westfield Carousal and Claremont Quarter.