This document is a chart pack from RPS Group that provides an overview of economic and property market trends in Western Australia. It includes 28 charts that analyze topics such as population growth, the labor market, exports, construction activity, housing finance, and the residential property market. RPS Group is an international consultancy that provides economics analysis and advisory services.

1. May 2017RPS Group
The Western Australian Economy and
Property Markets
Chart Pack | May 2017
PO Box 465, Subiaco
Western Australia 6904
W rpsgroup.com.au
Contact
WA Head Office p. +61 8 9211 1111
Level 2, 27-31 Troode Street w. www.rpsgroup.com.au
WEST PERTH WA 6005
Tim Connoley
Technical Director - Economics
About Economics at RPS
RPS is an international consultancy providing world-class local
solutions in energy and resources, infrastructure, environment and
urban growth. Our Economics team is well positioned to undertake
comprehensive analysis of a range of business, community and
government issues and projects. Our key areas of expertise include:
• Market advice and analysis;
• Due diligence and feasibility assessments;
• Strategy and policy development;
• Investment evaluations; and
• Planning approval support.

2. RPS Group | Chart Pack | May 2017 2
Figure 1 - Population Change,Western Australia
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
-4,000
1,000
6,000
11,000
16,000
21,000
26,000
31,000
PopulationGrowth(p.a.)
ChangeinPopulation(quarterly)
Natural Increase Net Overseas Migration
Net Interstate Migration Annual Growth Source: ABS 3101.0, RPS Group
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
-4,000
-2,000
0
2,000
4,000
6,000
8,000
10,000
12,000
UnemploymentRate
ChangeinEmployment(monthly)
Change in Employment (Trend)
Unemployment Rate (Trend)
Unemployment Rate (Seasonally Adj.) Source: ABS 6202.0, RPS Group
Figure 2 - Labour Market,Western Australia
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
RetailTurnoverGrowth(p.a.)
Western Australia Australia Source: ABS 8501.0, RPS Group
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
11.0%
12.0%
HomeLoanRates(p.a.)
Standard Variable Three-Year Fixed
Source: RBA, RPS Group
Figure 3 - RetailTurnover
Figure 5 - Mortgage Rates,Australia
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Food Household
Goods
Department
Stores
Other Retailing Take Away/
Restaurants
RetailTurnoverGrowth(p.a.)
Previous 12 Months Ten-Year Average
Source: ABS 8501.0, RPS Group
1.0
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1.8
Jun-17 Aug-17 Oct-17 Dec-17 Feb-18 Apr-18 Jun-18 Aug-18
CashRate(%)
31-Jan-17 17-Mar-17 Source: ASX, RPS Group
Figure 6 - Cash Rate Expectations,Australia
Figure 4 - RetailTurnover,Western Australia
Western Australian Economy

3. 3RPS Group | Chart Pack | May 2017
Figure 7 - Merchandise Exports,Western Australia
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
Price($USpertonne/barrel)
MerhcandiseExportsTrend($millions/month)
Merchandise Exports Iron Ore Price Petroleum Price
62% FE spot
(CFR Tianjin port)
Source: ABS 5368.0, IndexMundi, RPS Group
Crude Oil (Dated
Brent, West Texas
Intermediate and
the Dubai Fateh)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
WagePriceGrowth(p.a.)
Western Australia Australia Source: ABS 6345.0, RPS Group
Figure 8 - Wage Price Index
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
ConsumerPriceIndexGrowth(p.a.)
Perth Australia Source: ABS 6401.0, RPS Group
$0
$500
$1,000
$1,500
$2,000
$2,500
Non-ResidentialBuildingWork($million/quarter)
Work Done Building Approvals Source: ABS 8752.0, ABS 8731.0, RPS Group
Figure 9 - Consumer Price Index
Figure 11 - Non-Residential Construction,WA
-4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0%
Food
Housing
Education
Accommodation
& Travel
Transport
Health
Household Equipment
& Services
Utilities
Inflation (p.a.)
Ten-year average (p.a.) Previous 12 Months Source: ABS 6401.0, RPS Group
$0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000
Commercial
Industrial
Education
Aged Care
Health
Entertainment
& Recreation
Short Stay
Accommodation
Value of Work ($ millions)
Previous 12 Months Five-Year Average Source: ABS 8731.0, RPS Group
Figure 12 - Non-Residential Construction,WA
Figure 10 - Inflation,Western Australia
Western Australian Economy

4. 4RPS Group | Chart Pack | May 2017
Figure 13 - Engineering Work,Western Australia
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
EngineeringWork($m/quarter,price-adjusted)
Seasonally Adjusted Trend Source: ABS 8762.0, RPS Group
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
PrivateCapitalExpenditure($millionsp.a.)
Mining Manufacturing Other Industries Source: ABS 5625.0, RPS Group
Figure 14 - Private Capital Expenditure,WA
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
ExplorationExpenditure($millions/quarter)
Mining Petroleum Source: ABS 8412.0, RPS Group
Figure 15 - Exploration Expenditure,Western
-40.0%
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
ChangeinExpenditure(p.a.)
State Final Demand Private Investment
Private Consumption Public Expenditure Source: ABS 5206.0, RPS Group
Figure 16 - Economic Growth,Western Australia
Western Australian Economy

5. 5RPS Group | Chart Pack | May 2017
Figure 17 & 18 - Owner Occupier Housing Finance,Western Australia
0
1,000
2,000
3,000
4,000
5,000
6,000
Owner-OccupierLoanCommitments(monthly)
Established Dwellings New Dwellings Source: ABS 5609.0, RPS Group
0
1,000
2,000
3,000
4,000
5,000
6,000
Owner-OccupierLoanCommitments(monthly)
Upgraders First Home Buyers Source: ABS 5609.0, RPS Group
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
HomeLoanCommitments($millions/month)
Investors Upgraders First Home Buyers Source: ABS 5609.0, RPS Group
Figure 19 - Housing FinanceValue,Western Australia
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
FirstHomeOwnerGrantApplications(monthly)
Established Homes New Dwellings Source: Treasury (WA), RPS Group
Figure 20 - First Home Buyers,Western Australia
Residential Property | WA
10,000
15,000
20,000
25,000
30,000
35,000
ResidentialConstruction(dwellingsp.a.)
Houses Commenced Dwellings Commenced
Houses Completed Dwellings Completed Source: ABS 8752.0, ABS 8731.0, RPS Group
Figure 21 - Residential Construction,Western Australia
0
500
1,000
1,500
2,000
2,500
BuildingApprovals(dwellings/month)
Houses Other Dwellings Source: ABS 8731.0, RPS Group
Figure 22 - Building Approvals,Western Australia

6. 6RPS Group | Chart Pack | May 2017
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
ResidentialPropertyListings(quarterly)
Source: REIWA, RPS Group
Figure 23 - Property Listings, Metropolitan Perth
0
500
1,000
1,500
2,000
2,500
3,000
3,500
ResidentialVacantLandListings(monthly)
Source: REIWA, RPS Group
Figure 24 - Land Listings, Metropolitan Perth
Residential Property | Perth
Figure 25 - Property Sales, Metropolitan Perth
0
50
100
150
200
250
300
0
100
200
300
400
500
600
700
800
900
Mulit-UnitDwellingSales(weekly)
HouseSales(weekly)
Houses Sold Houses Trend Units Trend Units Sold Source: REIWA, RPS Group
0
50
100
150
200
250
DeveloperLotSalesIndex(weekly)
Sales Trend Rolling Average Source: UDIA Land Snapshot, RPS Group
Figure 26 - Developer Land Sales, Greater Perth
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
BuildingApprovals(dwellings/month)
Houses Other Dwellings Source: ABS 8731.0, RPS Group
Figure 27 - Building Approvals, Greater Perth
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
NumberofLots(annualised)
Applications Lodged Conditional Approvals Final Approvals
Source: WAPC, RPS Group
Figure 28 - Residential Subdivisions, Greater Perth