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Good morning, readers, and welcome to our live news blog on Thursday, October 23.
Headlines today include warnings that Perth’s population will approach 3.5 million sooner than expected.
That’s according to a number of experts who gathered on Wednesday for the Perth Committee’s 2050 Summit, which aims to “advocate a plan for Perth’s future”.
The population milestone was first revealed in the Perth Committee’s 2012 report. Towards a Bright Future but University of Western Australia demographer Professor Amanda Davies told audiences on Wednesday the city could now reach that figure by 2039.
“This is a very plausible scenario, given the pipeline projects we are locked into and the push factors driving migration,” Davies said.
You can read the full story here.
The median house price in Perth’s 129 suburbs is now over $1,000,000.
By the way, when it comes to growth, the average house price in our city is expected to reach the “solid line” before the end of the year.
According to the latest data Domain House Price Report Perth prices in the September quarter rose 1.6 per cent ($15,382) over the three-month period to a record average of $981,259.
Field research and economics chief Dr Nicola Powell said recent growth had seen the Perth property market just $18,741 (1.9 per cent) below the $1 million average price and was likely to reach that level before the end of the year.
Thank you again for joining us this morning. Stay tuned as we bring you more news you need to know.
