Big things are coming for Perth and this is your chance to be at the front of the queue forming to invest, do business and live in our wonderful City of Light.
As the western gateway to Australia for most of the world’s population, Perth is also the resources and energy capital of the Indo-Pacific. Our economy is thriving on the back of the mining sector, strong investment and business development, which underpins our position as the retail, cultural and entertainment hub of Western Australia.
Perth was also named the 12th most liveable city in the world in the Economist Intelligence Unit’s Global Liveability Rankings, and placed in the Forbes top 10 best places to travel to in 2023.
So what’s behind Perth reaching for the tag of big city, bright lights?
City of Perth Lord Mayor Basil Zempilas said a wealth of work is being done to shape the city of tomorrow through smart investments, targeted works and responsible but bold forward planning.
“The City’s population has nearly doubled in the last 25 years, which presents a higher rate of growth than state and national averages. We’re seeing our community become more enriched and diverse, and more populated, year on year,” he said.
“Our city is also experiencing a dynamic period of economic growth and investment, so it’s clear in this context that the decisions we make now around services, amenities and infrastructure will continue to shape our State’s fortunes, and our City, for years to come.”
Mr Zempilas pointed to the City’s ambitious Local Planning Strategy that aims to cater for more than 55,000 residents by 2036, lifting to 90,000 residents by 2050. The LPS was recently endorsed by the WA Planning Commission.
“We have a clear strategy to guide how we grow our magnificent City in a sustainable way over the next 10-15 years. This includes almost doubling our current City population by 2036,” he said.
“A key focus is the inner city or Central Perth neighbourhood, and through to 2030 we’re offering unprecedented residential rates and development fee incentives to unlock new opportunities to live in the heart of Perth.”
The incentives are set to accelerate opportunities for residential buyers and developers of student housing, build-to-rent, and build-to-sell stock in the inner city.
“Buyers of new properties can access 50 percent rates reimbursements across three consecutive years, equating to an annual estimated saving of $1,000.
“We’re also turbo-charging development by waiving all City fees for relevant residential development applications, and waiving the City’s fee component for Building and Occupancy permits. What this means in real terms, for a 30 plus storey, $30 plus million development, this has the potential to collectively deliver over $400,000 in savings for the developer and future residents.”
The Lord Mayor said the benefits of putting more residents on the doorstep of the City’s central facilities, businesses and main attractions are obvious.
“There’s so many flow-on benefits. From the viability and growth of existing and new businesses, to streetscaping, greening and making our city a safer and more enjoyable place to live, work and play, unlocking opportunities for city living goes to the heart of community aspirations for a thriving and vibrant capital city.”
The City is also committing key contributions to game-changing capital works that will support an accelerated increase in the City’s population.
“We’re on the front foot with laying the foundations for success. This includes working with the State Government to put a primary school in East Perth, as well as contributing key funds and works to key developments under the Perth City Deal.”
The Perth City Deal is a landmark $1.66 billion investment and partnership between the Australian Government, WA Government and the City of Perth. The centrepiece of the Perth City Deal will see Edith Cowan University’s law and business schools, and the Western Australian Academy of Performing Arts, established in the city centre.
“That alone will bring more than 10,000 students on our city campus from day one. Under the City Deal, we’re also committing $25 million to a recreational aquatic facility at the WACA Ground, and $4 million to the redevelopment of the Perth Concert Hall, all of which adds to the spectacle of a world-class city,” said Mr Zempilas.
“From stunning landscapes and irrepressible weather, to marquee events and cultural experiences, there are so many reasons why Perth is one of the most liveable places in the world right now. Everything we’re doing is geared towards preserving and growing those traits into the future.
“I’ve never been surer of one thing: For all investors, developers and buyers out there, this is your chance to get in on the ground floor as we build a new era of liveability, sustainability and prosperity for the City. You miss this chance at your own expense. The City of Light is only going to shine brighter in the years to come.”
For more information on the city living incentives, head to: https://perth.wa.gov.au/en/future-perth/city-living.
