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Census 2016: Insights and analysis

Thursday, 29th Jun 2017
Categories: Market News, Newsletter

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The ABS Census provides a valuable snapshot into our way of life including our education, occupation, income, age, living arrangements, population growth and much more.

Using this information, we can gain deep insights into demographic shifts at a national or city level, right down to suburb-specific changes.

By analysing this data, we can locate areas that are benefitting from positive socioeconomic shifts, and incorporate this information when identifying property markets that will outperform their peers.

Below are some of the key takeaways from the 2016 Census, specifically relating to Perth and, more broadly, Western Australia.

While much of the 2016 Census data was released in June 2017, more data is scheduled to be released in October 2017.

Momentum Wealth Research Division will publish a comprehensive Census report once all the data is released later this year. This research report will provide complete analysis of the Census data including unique insights on what this means for property markets and investors.

For now, here are some key takeaways from the data released to date.

  • The median weekly income for a person living in Bassendean has increased almost 15% from $672 in 2011 to $782 in 2016. This is close to double the increase recorded within Perth, which rose 8% from $669 to $728 over the 5 years.
  • The percentage of tertiary educated people in Perth stayed relatively unchanged over the 5 years, going from 16.2% to 16.5%. However, in Bibra Lake, which has experienced high levels of gentrification, the number of tertiary educated residents increased significantly from 6.9% in 2011 to 18.3% in 2016.
  • The percentage of properties being rented in Perth fell to 26.7%, down from 27.6%, indicating a slight dip in the level of investors in the market. However, investor activity in Cloverdale has risen with 37.4% of properties being rented in 2016, up from 35.8% in 2011.
  • Perth’s population has increased 12.4% to 1,943,858 residents in 2016, up from 1,728,867 recorded in 2011. Serpentine-Jarrahdale, in Perth’s south, was Australia’s fastest growing region between 2011 and 2016, with the population jumping 51% to 27,000 residents.
  • West Australians have the second highest median weekly incomes across Australia at $724. This is only eclipsed by the Australia Capital Territory at $998. New South Wales had the third highest median weekly incomes at $664, following by Queensland at $660 and Victoria at $644.
  • People are increasingly opting for metropolitan living over regional areas as the proportion of people living in Perth, compared to the state’s entire population, has increased to 78.6%. This is up from 77.2% of the state’s population living in Perth in 2011.

Keep an eye out for Momentum Wealth’s research report on the 2016 Census following the release of the remainder of the Census data in October.