Economic and Demographic Profile February 2015

Transcription

1 Economic and Demographic Profile February 2015

2 Contents Summary...1 Population and Income...2 Population...2 Age Distribution...3 Personal Income...4 Business Activity...5 Gross Regional Product...5 Productivity...6 Local Business Turnover...7 Workforce Size...8 Workforce...9 Employment by Industry...9 Local Employment...10 Workforce Origin/Destination...10 Economic Diversity...11 Location Quotients...11 Major Developments...12 Employment...15 Labour Market...15 Participation Rate...16 Dependency Ratio...16 Housing and Investment...17 Dwelling Approvals...17 Non-Residential Construction...17 Household Projections...18 Median Weekly Rents...19 Rental Yields...19 Property Market and Land...20 House and Unit Prices...20 Median Dwelling Price Index...21 Land Values...21 Tourism...22 Visitor Numbers...22 Tourism Accommodation...22 Demographic Profile...23 Regional Cities Comparison...25 Localities of the City of Busselton...26 Further Reading and Useful Links...27 Employment Capacity...16 For more information Economic and Business Development Team City of Busselton Locked Bag 1-2 Busselton 6280 Telephone: (08) Facsimile: (08) Website: The data produced in the City of Busselton Economic & Demographic Profile is believed to be the most recent and accurate data available at the time of publication. No responsibility is accepted for any inadvertent errors. COPYRIGHT: The concepts and information contained in this document are the property of the City of Busselton. Use or copying of this document in whole or in part without written permission of the City of Busselton constitutes an infringement of copyright. Prepared by: Note: City of Busselton = Busselton Local Government Area (LGA) Cover photos courtesy of the City of Busselton, Tourism Western Australia and Geographe Bay Tourism Association. Geography used in this publication: PO Box 2567, Toowoomba Q 4350 P M E reuben@lawrenceconsulting.com.au W City of Busselton Capes Region South West *Note: The South West is defined as the South West Development Commission Geographic Area; all ABS data cited for the South West is for the boundries shown above. City of Busselton Economic and Demographic Profile

3 Summary Key Economic Indicators for the City of Busselton Period Level Level Change Annual 12 mths ago % change Population and Income Estimated resident population ,290 32,928 +1, % Projected population ,300 n.a. +21, % Average age (yrs) % Dependency ratio (%) % Total income ($ million) 2010/ % Per capita income ($) 2010/11 27,865 25,439 +2, % Average wage and salary income ($) 2010/11 45,627 42,649 +2, % Employment Employed persons (no.) Sep Qtr ,699 16,169 +1, % Unemployment rate (%) (a) Sep Qtr % Labour force (persons) Sep Qtr ,346 17,031 +1, % Participation rate (%) (a) % Business Activity Gross Regional Product ($ million) 2013/14 2, , % Real GRP per capita ($) 2013/14 60,090 57,558 +2, % Productivity ($value added/hr worked) 2013/ % Number of businesses June ,545 3, % Total industry turnover ($ million) 2012/13 1, , % Average industry turnover ($ 000) 2012/ % Housing and Investment No. of dwelling approvals Yr to Dec % Value of dwelling approvals ($ 000) Yr to Dec , , , % Value of non-dwelling approvals ($ 000) Yr to Dec ,213 34,012-7, % Projected households ,400 n.a. +9, % Median weekly rent houses ($) Dec Qtr % Median weekly rent units ($) Dec Qtr % Rental yield separate houses (%) (a) % Rental yield flats/units (%) (a) % Property Market and Land Median sales price separate houses ($) , , , % Median sales price flats/units ($) , , , % Median house price index (%) (a) % Median sales price vacant land ($) , ,500 +7, % Note: (a) Changes are percentage point changes. 1

4 Population & Income Population The estimated resident population of the City of Busselton at June 2013 was 34,290 persons, an increase of 1,362 persons, or 4.1% from the level recorded in The annual growth in population in the City of Busselton was higher than the averages for the South West region (3.0%) and Western Australia (3.3%). Population City of Busselton 60,000 50,000 40,000 Actual Projected Over the past five years, the City of Busselton has experienced an increase in population of 5,897 persons, representing average annual growth of 3.9%. This growth rate was again well above the averages for the Capes sub-region (3.5%), South West (2.8%) and Western Australia (3.0%) over the same period. Over the period to 2026, the population of the City of Busselton is expected to increase by 21,010 persons or an average annual rate of 3.8% to a level of approximately 55,300 persons. The forecast annual growth in population for the City of Busselton is significantly higher than the averages for the South West region (2.4%) and Western Australia (1.6%). In 2013, the City of Busselton comprised 20.2% of the population of the South West region, an increase of 1.0 percentage point from the share of 19.2% in By 2026, the City of Busselton is forecast to comprise 24.0% of the total population of the South West region. 30,000 20,000 10, Source: ABS , Planning Western Australia Population Growth City of Busselton 7% 6% 5% 4% 3% 2% 1% Actual Projected South West Western Australia 0% Source: ABS , Planning Western Australia Population Projections! Major Regional Cities! 60,000! 50,000! Busselton! Albany! Bunbury! Greater Geraldton! Kalgoorlie-Boulder! 40,000! 30,000! 20,000! 10,000! 0! 2006! 2011! 2016! 2021! 2026! Source: ABS , Planning Western Australia Population Area Level Annual Average annual Level Average annual 2013 % change % change 2026 % change City of Busselton 34, , Capes Region 47, , South West 169, , Western Australia 2,519, ,060, Source: ABS , Planning Western Australia City of Busselton Economic and Demographic Profile 2

5 Population & Income Age Distribution The average age of the population of the City of Busselton increased from 38.4 years in 2008 to 39.0 years in By comparison, the average age for Western Australia was 36.8 years in 2013, having risen by 0.2 years since In 2013, the largest share of the population of the City of Busselton was the years age group (7.7%), followed by the 5-9 years and years age groups (both 7.2%). The City of Busselton had a higher proportion of persons in all age groups between 0-14 years, years and 55 years and older age than Western Australia. Between 2008 and 2013, there was an increase in the total population share of the City of Busselton in the 5-9 years, years, years, years, years, years, years and 85 years and older age brackets. Age Distribution % 2% 4% 6% 8% 10% Source: ABS Age Distribution Change in % share, City of Busselton Western Australia According to population forecasts, the average age of the City of Busselton is expected to increase by 2.9 years to 41.9 years in By comparison, the average age for Western Australia will also increase by 2.9 years to 39.7 years in The dependency ratio in the City of Busselton is expected to increase by 3.3 percentage points to 64.6% in 2026, a lower increase than the average for Western Australia, which will rise by 10.2 percentage points to 56.4% in City of Busselton Western Australia Source: ABS Age Distribution Age group City of Busselton Western Australia % of total % of total % chg % of total % chg % of total % of total % chg % of total % chg and over Average age Dependency ratio Source: ABS

6 Population & Income Personal Income Per capita income (i.e. the total income of residents divided by the population) for the City of Busselton was estimated at $27,865 in 2010/11, which represented a significant annual increase of $2,426, or 9.5% from the level recorded in 2009/10 ($25,439). Per Capita Income $40, / /11 $30,000 The City of Busselton recorded a slightly lower per capita income in 2010/11 than the averages for the South West ($29,244) and Western Australia ($32,872). $20,000 $10,000 Total income in the City of Busselton was estimated at $878.4 million in 2010/11, representing an annual increase of 12.6% from the level recorded in 2009/10 ($780.1 million) and a significant average annual increase of 10.0% from the level recorded in 2005/06 ($546.4 million). $0 City of Busselton Source: ABS Albany Bunbury Greater Geraldton Kalgoorlie- Boulder Capes Region South West Western Australia The average personal wages and salaries income for the City of Busselton was estimated at $45,627 in 2010/11, representing an increase of 7.0% from the level recorded in 2009/10 ($42,649) and an average annual increase of 6.9% from the level recorded in 2005/06 ($32,678). The City of Busselton again recorded a lower average wages and salaries income in 2010/11 than the South West ($51,514) and Western Australia ($57,366). Average Wages & Salaries Income $60,000 City of Busselton Capes Region South West Western Australia $50,000 $40,000 $30,000 $20,000 $10,000 $0 2005/ / / / / /11 Source: ABS Personal Income Level Annual Average annual 2010/11 % change % change last 5 years Total income ($ million) City of Busselton Capes Region 1, South West 4, Western Australia 77, Per capita income ($) City of Busselton 27, Capes Region 28, South West 29, Western Australia 32, Average wage & salary income ($) City of Busselton 45, Capes Region 44, South West 51, Western Australia 57, Source: ABS City of Busselton Economic and Demographic Profile 4

7 Business Activity Gross Regional Product The estimated Gross Regional Product (GRP) for the City of Busselton was $2.1 billion in 2013/14. The City of Busselton experienced significant real annual economic growth of 8.7% in 2013/14, higher than the averages for both the South West (8.0%) and Western Australia (5.5%). The City of Busselton contributed 15.3% and 0.8%, respectively, to the gross regional / state products of the South West ($13.6 billion) and Western Australia ($264.6 billion) in 2013/14. With regard to industry, the largest contribution was made by the Construction industry, with approximately 18.9% of the total GRP for the City of Busselton, followed by Agriculture, Forestry & Fishing (8.7%), Retail Trade (6.5%), Administrative & Support Services (6.2%) and Manufacturing (6.1%). Gross Regional Product City of Busselton, 2013/14 ($ million) Arts & recreation services Information media & telecommunications Mining Other services Electricity, gas, water & waste services Public administration & safety Wholesale trade Rental, hiring & real estate services Accommodation & food services Financial & insurance services Education & training Professional, scientific & technical services Transport, postal & warehousing Health care & social assistance Manufacturing Administrative & support services Retail trade Agriculture, forestry & fishing Construction Source: Lawrence Consulting Goods Sector Services Sector The City of Busselton received a relatively higher industry contribution to total GRP from the Agriculture, Forestry & Fishing; Manufacturing; Electricity, Gas, Water & Waste Services; Construction; Retail Trade; Accommodation & Food Services; Transport, Postal & Warehousing; Financial & Insurance Services; Rental, Hiring & Real Estate Services; Administrative & Support Services; Education & Training; Health Care & Social Assistance; and Other Services sectors than Western Australia in 2013/14. Gross Regional Product Industry City of Busselton South West Western Australia Level ($m) % of Annual Level ($m) % of Level ($m) % of 2013/14 total % change 2013/14 total 2013/14 total Agriculture, forestry & fishing , , Mining , , Manufacturing , , Electricity, gas, water & waste services , Construction , , Wholesale trade , Retail trade , Accommodation & food services , Transport, postal & warehousing , Information media & telecommunications , Financial & insurance services , Rental, hiring & real estate services , Professional, scientific & technical services , Administrative & support services , Public administration & safety , Education & training , Health care & social assistance , Arts & recreation services , Other services , Total Industry Value Added 1, , , Ownership of dwellings , Taxes less subsidies on production and imports , Statistical discrepancy Gross Regional Product 2, , , Note: All values are in current prices, whilst annual changes represent growth in chain volume measures. Source: Lawrence Consulting 5

8 Business Activity Productivity Productivity is a key component of economic growth and is a measure of the efficiency of production within a region. Dividing the real gross regional product of a region by total hours worked will measure the labour productivity within that region, i.e. the average amount of output produced by an hour worked by a person within that region. The City of Busselton recorded total industry productivity (or industry value added per hour worked) of approximately $80.00 in 2013/14, which represented an increase of 4.6% from the average productivity for 2012/13 ($76.51). The City of Busselton recorded a lower total industry productivity average than Western Australia ($112.52) in 2013/14. The Mining sector recorded the highest industry productivity level ($564.41/hr) in the City of Busselton in 2013/14, followed by Information Media & Telecommunications ($193.78), Electricity, Gas, Water & Waste Services ($138.95), Construction ($133.71) and Administrative & Support Services ($128.17). In 2013/14, the City of Busselton recorded higher industry productivity than Western Australia in the Mining; Manufacturing; Wholesale Trade; Information Media & Telecommunications; Professional, Scientific & Technical Services; Public Administration & Safety; Education & Training; and Health Care & Social Assistance sectors. Industry Productivity City of Busselton, 2013/14 ($value added/hr worked) Accommodation & food services Arts & recreation services Other services Retail trade Education & training Public administration & safety Health care & social assistance Professional, scientific & technical services Manufacturing Total Industry Wholesale trade Rental, hiring & real estate services Transport, postal & warehousing Agriculture, forestry & fishing Financial & insurance services Administrative & support services Construction Electricity, gas, water & waste services Information media & telecommunications Mining Source: Lawrence Consulting Productivity, Annual Industry Growth City of Busselton, 2013/14 Agriculture, forestry & fishing Information media & telecommunications Mining Administrative & support services Arts & recreation services Health care & social assistance Wholesale trade Total Industry Retail trade Education & training Electricity, gas, water & waste services Manufacturing Public administration & safety Accommodation & food services Other services Financial & insurance services Construction Transport, postal & warehousing Rental, hiring & real estate services Professional, scientific & technical services $0 $100 $200 $300 $400 $500 $600-20% 0% 20% 40% 60% 80% 100% Source: Lawrence Consulting Productivity Industry City of Busselton South West Western Australia Level Annual Level Annual Level Annual ($GRP/hr % change ($GRP/hr % change ($GRP/hr % change worked) worked) worked) 2013/ / /14 Agriculture, forestry & fishing Mining Manufacturing Electricity, gas, water & waste services Construction Wholesale trade Retail trade Accommodation & food services Transport, postal & warehousing Information media & telecommunications Financial & insurance services Rental, hiring & real estate services Professional, scientific & technical services Administrative & support services Public administration & safety Education & training Health care & social assistance Arts & recreation services Other services Total Industry Note: All values are in chain volume measures. Source: Lawrence Consulting City of Busselton Economic and Demographic Profile 6

9 Business Activity Local Business Turnover The most recent ABS Australian Business Register indicated there were an estimated 3,534 local businesses in the City of Busselton in June 2013 (defined as actively trading whose registered place of business is within the City), which represented an annual increase of 1.5% from the level recorded in June 2012 (3,492). Construction is the largest industry in terms of business numbers in the City of Busselton, accounting for 25.3% of the total number of businesses, followed by the Agriculture, Forestry & Fishing (12.1%), Rental, Hiring & Real Estate Services (10.7%) and Professional, Scientific & Technical Services (8.3%) sectors. Businesses by Industry City of Busselton, June 2013 Construction Agriculture, forestry & fishing Rental, hiring & real estate services Professional, scientific & technical services Financial & insurance services Retail trade Accommodation & food services Manufacturing Other services Health care & social assistance Administrative & support services Transport, postal & warehousing Non classifiable industry Wholesale trade Education & training Arts & recreation services Information media & telecommunications Mining Public administration & safety Electricity, gas, water & waste services 0% 5% 10% 15% 20% 25% 30% The estimated total turnover of all local industry in the City of Busselton was $1.4 billion in 2012/13 representing a small annual increase of 1.3% whilst the average turnover of all businesses in the City of Busselton was approximately $408,300 in 2012/13 (down 0.2%). The largest proportion of businesses in the City of Busselton recorded annual turnover in the $0-$99,999 range (41.6%), followed by the $200,000-$499,999 (19.3%) and $100,000- $199,999 (18.7%) turnover ranges. Approximately 5.1% of businesses in the City of Busselton recorded annual turnover in excess of $2 million in 2012/13. Source: ABS Businesses by Turnover City of Busselton, 2012/13 $200,000-$499, % $100,000-$199, % $500,000-$2 million 15.3% $2+ million 5.1% $0-$99, % Source: ABS Businesses by Industry Industry Count % of Total industry % of Avg business June 2013 total turnover total turnover ($ million) ($ 000) Agriculture, forestry & fishing Mining Manufacturing Electricity, gas, water & waste services Construction Wholesale trade Retail trade Accommodation & food services Transport, postal & warehousing Information media & telecommunications Financial & insurance services Rental, hiring & real estate services Professional, scientific & technical services Administrative & support services Public administration & safety Education & training Health care & social assistance Arts & recreation services Other services Non classifiable industry Total, 2012/13 3, , Total, 2010/12 3,492 1, Annual % change Source: ABS

10 Business Activity Workforce Size Of the 3,545 local businesses operating in the City of Busselton in June 2013, the largest proportion were non-employing (i.e. business owners only, no additional staff), with 62.8%, followed by businesses with workforces of 1-4 (25.4%) and 5-19 (9.6%). There were 3,452 small businesses (i.e. workforce smaller than 20, including non-employing) in the City of Busselton in June 2013, or 97.7% of the total. Medium-sized businesses (i.e employees) accounted for the remaining 2.3% of total businesses, with no large businesses (greater than 200 employees). Businesses by Workforce Size City of Busselton, 2012/ % % % % Non employing 62.8% The highest proportion of small businesses (100.0%) are in the following sectors; Mining, Electricity, Gas, Water & Waste Services; Wholesale Trade; Information Media & Telecommunications; Financial & Insurance Services; Rental, Hiring & Real Estate Services; Public Administration & Safety; Health Care & Social Assistance; and Other Services, followed by Construction (99.2%) and Professional, Scientific & Technical Services (99.0%). The highest proportion of medium-sized businesses were in The Education & Training sector (12.0%), followed by Accommodation & Food Services (11.0%) and Arts & Recreation Services (8.8%). The average workforce size across all businesses in the City of Busselton was 4.3 persons in 2012/13. The Accommodation & Food Services sector had the highest average workforce size of 16.8 persons in 2010/11, followed by Education & Training (15.2), Manufacturing (12.2) and Arts & Recreation Services (11.6). Source: ABS Average Workforce Size by Industry City of Busselton, 2012/13 Accommodation & food services Education & training Manufacturing Arts & recreation services Retail trade Transport, postal & warehousing Administrative & support services All Industries Mining Agriculture, forestry & fishing Professional, scientific & technical services Wholesale trade Health care & social assistance Other services Construction Electricity, gas, water & waste services Public administration & safety Information media & telecommunications Financial & insurance services Rental, hiring & real estate services Non classifiable industry Source: ABS Businesses by Workforce Size (% of total) Industry Small Medium Large Total Avg workforce Non-employing Agriculture, forestry & fishing Mining Manufacturing Electricity, gas, water & waste services Construction Wholesale trade Retail trade Accommodation & food services Transport, postal & warehousing Information media & telecommunications Financial & insurance services Rental, hiring & real estate services Professional, scientific & technical services Administrative & support services Public administration & safety Education & training Health care & social assistance Arts & recreation services Other services Non classifiable industry Total 2, , % of total Source: ABS City of Busselton Economic and Demographic Profile 8

11 Workforce Employment by Industry The total working population of the City of Busselton (i.e. the number of persons whose place of work is within the City of Busselton), as at the 2011 Census, was approximately 10,859 persons. This represented an increase of 1,270 persons, or an average annual growth rate of 2.5%, from the level recorded at the 2006 Census. In 2011, the largest industry employer based on the working population in the City of Busselton was the Retail Trade with 1,665 persons, or 15.3% of the total workforce. The Accommodation & Food Services (12.3%), Health Care & Social Assistance (10.3%), Construction (10.0%) and Education & Training (8.3%) sectors were also significant employers. Between 2006 and 2011, the Education & Training sector recorded the largest increase in industry employment share (up 1.7 percentage points), followed by Administrative & Support Services (up 0.8 percentage points) and Professional, Scientific & Technical Services (up 0.6 percentage points). In 2011, the City of Busselton had a higher proportion of employment share in the Agriculture, Forestry & Fishing; Retail Trade; Accommodation & Food Services; Rental, Hiring & Real Estate Services; Administrative & Support Services; Education & Training; and Other Services sectors than Western Australia. Employment by Industry! City of Busselton, 2011 Census! Retail trade! Accommodation & food services! Health care & social assistance! Construction! Education & training! Manufacturing! Agriculture, forestry & fishing! Professional, scientific & technical services! Other services! Administrative & support services! Public administration & safety! Transport, postal & warehousing! Rental, hiring & real estate services! Wholesale trade! Financial & insurance services! Arts & recreation services! Electricity, gas, water & waste services! Information media & telecommunications! Mining! Source: ABS 2011 Census Change in Industry Employment Share! City of Busselton, ! Education & training! Administrative & support services! Professional, scientific & technical services! Wholesale trade! Health care & social assistance! Other services! Transport, postal & warehousing! Public administration & safety! Electricity, gas, water & waste services! Arts & recreation services! Mining! Information media & telecommunications! Construction! Financial & insurance services! Rental, hiring & real estate services! Accommodation & food services! Retail trade! Manufacturing! Agriculture, forestry & fishing! 0%! 5%! 10%! 15%! 20%! Working population! Residential workforce! Working population (i.e. persons working in the City of Busselton)! Residential workforce (i.e. persons with jobs living in the City of Busselton)! -4%! -2%! 0%! 2%! 4%! Source: ABS 2011 Census Employment by Industry Industry Working Population Residential Employed Persons Employment Self-Sufficiency Total % of Total % of Total jobs as Residents % of 2011 total 2011 total % of resident employed in total jobs workforce Busselton Agriculture, forestry & fishing Mining Manufacturing Electricity, gas, water & waste services Construction 1, , Wholesale trade Retail trade 1, , , Accommodation & food services 1, , , Transport, postal & warehousing Information media & telecommunications Financial & insurance services Rental, hiring & real estate services Professional, scientific & technical services Administrative & support services Public administration & safety Education & training Health care & social assistance 1, , Arts & recreation services Other services Not stated Total 10, , , Source: ABS 2011 Census 9

12 Workforce Local Employment The total residential workforce of the City of Busselton (i.e. the number of employed persons living within the City), as at the 2011 Census, was 11,634 persons. Compared to the working population of 10,859 persons, this represented a deficit of 775 jobs and indicates that the City of Busselton has an estimated employment self-sufficiency ratio of 93.3%. (i.e. there are slightly fewer jobs available locally than residents available to fill them). The Education & Training sector had the highest industry employment self-sufficiency ratio (130.0%), followed by Arts & Recreation Services (122.7%), Professional, Scientific & Technical Services (116.9%) and Other Services (113.4%). The number of residents of the City of Busselton actually employed within the City in 2011 was 9,813 persons, or 90.4% of the total working population. Employment Self-Sufficiency! City of Busselton, 2011 Census! All industries! Agriculture, forestry & fishing! Mining! Manufacturing! Electricity, gas, water & waste services! Construction! Wholesale trade! Retail trade! Accommodation & food services! Transport, postal & warehousing! Information media & telecommunications! Financial & insurance services! Rental, hiring & real estate services! Professional, scientific & technical services! Administrative & support services! Public administration & safety! Education & training! Health care & social assistance! Arts & recreation services! Other services! Source: ABS 2011 Census Working population as % of resident workforce! Local employed residents as % of working population! 0%! 50%! 100%! 150%! 200%! Workforce Origin/Destination In 2011, the most common place of origin for persons who work within the City of Busselton other than the City of Busselton itself was the Augusta-Margaret River LGA, with 396 persons or 3.6% of the working population. This was followed by the Capel (2.3%), Bunbury (0.9%), Harvey (0.4%) and Nannup (0.3%) LGAs. With regard to the residential workforce, the most common destination (excluding the City of Busselton) was the Bunbury LGA with 605 persons, or 5.2%, followed by the Augusta- Margaret River (2.7%), Capel (1.4%), East Pilbara (1.0%) and Ashburton (0.8%) LGAs. Workforce Origin & Destination, Most Common LGAs (excl. Busselton)! City of Busselton, 2011 Census! Augusta-Margaret River (S)! Capel (S)! Bunbury (C)! Harvey (S)! Nannup (S)! Roebourne (S)! Collie (S)! Perth (C)! Ashburton (S)! East Pilbara (S)! -800! -600! -400! -200! 0! 200! 400! Source: ABS 2011 Census Workforce Destination / Origin Residential Employed Persons Working Population Destination No. of % of Origin No. of % of employed persons total employed persons total Busselton (S) 9, Busselton (S) 9, Bunbury (C) Augusta-Margaret River (S) Augusta-Margaret River (S) Capel (S) Capel (S) Bunbury (C) East Pilbara (S) Harvey (S) Ashburton (S) Nannup (S) Perth (C) Donnybrook-Balingup (S) Collie (S) Dardanup (S) Roebourne (S) Joondalup (C) Boddington (S) Manjimup (S) Port Hedland (T) Rockingham (C) Other Western Australia Other Western Australia Other Other Total 11, Total 10, Source: ABS 2011 Census City of Busselton Economic and Demographic Profile 10

13 Workforce Economic Diversity The Index of Economic Diversity measures economic or industrial diversity within a region by determining the degree to which the region s industry mix differs from that of the national economy. When the index value is close to one, the industrial profile of a region mirrors that of the national economy and is considered more diverse. The index value for the City of Busselton when compared to the national economy is 0.596, which is higher than the average for the Capes Region (0.479), but below the index values for the South West (0.713) and Western Australia (0.881). When the index is calculated using the Western Australia economy as the comparative benchmark, the City of Busselton has an index value of 0.574, whilst the averages for the Capes Region and South West are and 0.687, respectively. Index of Economic Diversity! City of Busselton! Albany! Bunbury! Greater Geraldton! Kalgoorlie/Boulder! Capes Region! South West! Western Australia! 0.0! 0.2! 0.4! 0.6! 0.8! 1.0! Source: Lawrence Consulting, ABS Census 2011 Australia! Western Australia! Location Quotients The City of Busselton has a greater industry concentration (i.e. location quotient greater than 1) than the national economy and therefore is assumed to have net exports from the region in the Agriculture, Forestry & Fishing (2.15), Accommodation & Food Services (1.89), Rental, Hiring & Real Estate Services (1.64), Retail Trade (1.44), Construction (1.21), Administrative & Support Services (1.20), Other Services (1.09) and Education & Training (1.02) sectors. The City of Busselton has a higher location quotient in the Agriculture, Forestry & Fishing; Retail Trade; Accommodation & Food Services; Rental, Hiring & Real Estate Services; Administrative & Support Services; and Other Services sectors than both the South West and Western Australia. Location Quotients! Agriculture, forestry & fishing! Mining! Manufacturing! Electricity, gas, water & waste services! Construction! Wholesale trade! Retail trade! Accommodation & food services! Transport, postal & warehousing! Information media & telecommunications! Financial & insurance services! Rental, hiring & real estate services! Professional, scientific & technical services! Administrative & support services! Public administration & safety! Education & training! Health care & social assistance! Arts & recreation services! Other services! Source: ABS 2011 Census City of Busselton! Western Australia! 0.0! 1.0! 2.0! 3.0! 4.0! Economic Diversity Industry Location Quotients City of Busselton Capes Region South West Western Australia Agriculture, forestry & fishing Mining Manufacturing Electricity, gas, water & waste services Construction Wholesale trade Retail trade Accommodation & food services Transport, postal & warehousing Information media & telecommunications Financial & insurance services Rental, hiring & real estate services Professional, scientific & technical services Administrative & support services Public administration & safety Education & training Health care & social assistance Arts & recreation services Other services Diversity Index (Australia) Diversity Index (Western Australia) Source: Lawrence Consulting, ABS Census

14 Major Developments Events Capital WA The City of Busselton is home to a growing number of world class events and is fast emerging as the Events Capital of Western Australia. Busselton, Dunsborough, Yallingup and the wider Margaret River Region are perfect locations to host premier events such as Cinefest Oz, Iron man WA and Gourmet Escape. Community Resource Centre The Busselton Community Resource Centre was opened in October It is tenanted by a variety of not for profit community organisations and houses two well-appointed meeting rooms available for hire. The Centre is located adjacent to the Busselton Library and is a versatile and contemporary meeting venue designed to suit a variety of business and community requirements. New Hospital A new $120.4 million Busselton Health Campus is scheduled to open in mid The new facilities will allow more South West residents to receive top quality medical care closer to home at one location, and provide valuable support to smaller regional facilities, particularly in Margaret River and Augusta. Situated on the south west coastline with views over Geographe Bay on environmentally protected land surrounded by Peppermint trees, the new Busselton Health Campus has been designed to help improve patient care for regional residents and visitors. Education Facilities Early planning to build a new campus of the South West Institute of Technology has commenced. This will complement the quality of existing secondary education options, both private and public such as the Cape Naturaliste College at the new Vasse subdivision and the Georgiana Molloy Anglican School in Provence Estate. Cornerstone Christian College has submitted a Development Application to build a new school in Dunsborough, which will support a proposed new public primary school. City of Busselton Economic and Demographic Profile 12

15 Major Developments Transport Access Busselton is a two and a half hour drive from capital city, Perth, down the new Forrest Highway. There is a regular train service from Perth to Bunbury, with connecting coach lines to Busselton. Public transport coach services offer a number of timetables to accommodate the fly in fly out workforce, travellers and students and those who travel to Perth and locally within the region. Busselton is a 30 minute flight from Perth and the Busselton Regional Airport is the aviation gateway to the south west of Western Australia. Virgin airlines operates return flights from Perth and numerous charters offer a commute for the resource sector workforce. Property Development Quality housing estates are being expanded within Busselton, Vasse and at Dunsborough which will provide accommodation for the projected increasing population. Commercial opportunities exist in the Central Business District and on the Busselton Foreshore for hotel, food and beverage outlets and there are several plans for expansion of other retail and bulky goods outlets including a new discount department store within and close to the CBD. Industrial land located near the Busselton Regional Airport and within the Vasse industrial area is available for commercial and manufacturing developments. Recreation and Leisure Facilities Major redevelopment of the Busselton foreshore sporting precinct is planned, including an international tennis centre, new skate park, surf life saving club and ther sports facilities. A recent expansion of the Geographe Leisure Centre has been completed to cater for the City's growing recreational and sporting needs. The expansion includes allied health suites, cycle room, cafe, gym, creche and outdoor play area. Cultural Precinct Redevelopment The redeveloped cultural precinct is a thriving centre for the visual and performing arts. The precinct includes the ArtGeo Cultural Complex, historic courthouse (now used as a retail gallery), an acting school, café and courtyard gardens. Land is available within the precinct for a mixed use tourist-orientated development and preliminary plans for a new performing arts centre are currently being developed. 13

16 Major Developments Redevelopment of the Busselton, Dunsborough and Yallingup Foreshores The Busselton Jetty and surrounding foreshore area is one of the most visited tourism sites in the region. Further enhancement of the Busselton foreshore will strengthen the area's attractiveness and overall value to the region and will provide for economic growth opportunities through provision of cafes, restaurants and other small business sites. Continued enhancement of the Dunsborough and Yallingup foreshores is set to revitalise existing public open space for the enjoyment of locals and tourists alike, integrating leisure activities, public conveniences and children s play equipment. Busselton Regional Airport The regional airport is regarded as the most strategically located of all airports in the South West of the State and as such, Tourism Western Australia has nominated its upgrade as one of the highest priorities for tourism development in Western Australia. Expansion of the Busselton Regional Airport has commenced including jet refuelling facilities and an upgrade to the terminal building. A proposed extension to the runway will provide an alternative entry point into the State and country, significantly increasing tourism numbers and offering lifestyle advantages for residents who will not have to travel to Perth before travelling further afield. Marine Tourism and Cruise Ship Attraction In November 2014, Busselton welcomed its first visiting cruise ship to include the City in its itinerary, when the Diamond Princess transferred over 2,000 passengers and crew ashore for an eight hour visit. This inaugural visit was the first of 16 visits from various vessels scheduled to the year The City is investigating the development of facilities for cruise line tender vessels and large recreational marine vessels to berth at the Busselton Jetty, to allow for passengers and visitors to explore Geographe Bay and the Margaret River region. New Civic Administration Building The City of Busselton has committed to building a new Administration building to cater for the increasing service requirements for our growing City. Construction of the $15-20 million facility is proposed to commence in late Telecommunications Busselton will be one of the first regional cities in Western Australia to be connected to the National Broadband Network which is being rolled out by the Australian Government. This will increase the region s ability to become a provider of education, training and health services and attract new enterprises to the region. City of Busselton Economic and Demographic Profile 14

17 Employment Labour Market The number of employed persons in the City of Busselton was estimated at 17,699 in the September Quarter 2014, which represented a significant annual increase of 1,530 persons, or 9.5% from the level recorded in the September Quarter Unemployment Rate 7% City of Busselton Capes Region South West Western Australia Australia 6% The strong annual growth in employment in the City of Busselton contributed to an increase of 7.7% in the size of labour force, the level of which was 18,346 persons in the September Quarter The unemployment rate in the City of Busselton fell annually by 1.5 percentage points to 3.5% in the September Quarter The City of Busselton s unemployment rate in the September Quarter 2014 was lower than the averages for the South West (4.0%), Western Australia (4.9%) and Australia (6.0%). The number of unemployed persons in the City of Busselton decreased significantly by 24.9% over the year to the September Quarter 2014, which was greater than the fall in unemployed persons in the Capes Region (down 24.8%) and South West (down 20.4%) and in contrast to an increase for Western Australia (up 9.1%). 5% 4% 3% 2% Sep-11 Mar-12 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Source: DEEWR Labour Force City of Busselton 20,000 15,000 10,000 Employed persons Unemployed persons 5,000 0 Sep-11 Mar-12 Sep-12 Mar-13 Sep-13 Mar-14 Sep-14 Source: DEEWR, Lawrence Consulting Labour Market Level Level Annual Annual Quarterly Sep Qtr months ago change % change % change Employed persons: City of Busselton 17,699 16,169 1, Capes Region 25,175 23,019 2, South West 90,580 83,219 7, Western Australia 1,353,301 1,324,034 29, Unemployment rate (%) (a) : City of Busselton Capes Region South West Western Australia Unemployed: City of Busselton Capes Region 901 1, South West 3,793 4, Western Australia 69,999 64,184 5, Labour force: City of Busselton 18,346 17,031 1, Capes Region 26,076 24,217 1, South West 94,373 87,986 6, Western Australia 1,423,300 1,388,218 35, Note: (a) Unemployment rate changes are percentage point changes. Source: DEEWR, Lawrence Consulting 15

18 Employment Employment Capacity Participation Rate Participation Rate The participation rate is measured by the proportion of the resident population aged 15 and over in the labour force (i.e. either employed or unemployed). The labor force participation rate is a key component in long-term economic growth, almost as important as productivity. 80% 70% City of Busselton Capes Region South West Western Australia The participation rate in the City of Busselton was estimated at 62.5% in 2013, which was 0.4 percentage points lower than the level recorded in 2012 (62.9%) and 1.6 percentage points below the average participation rate in 2008 (64.1%). The workforce participation rate in the City of Busselton in 2013 was lower than the average rate for the South West (65.5%) and Western Australia (67.0%). 60% 50% 40% Source: ABS , DEEWR & Lawrence Consulting Dependency Ratio The dependency ratio is the ratio of the economicallydependent proportion of the population to the productive part. The economically-dependent proportion is recognised to be children who are too young to work and individuals that are too old, that is, generally, individuals under the age of 15 and over the age of 65. The productive part makes up the gap in between (ages 15-64), or the labour force. Dependency Ratio 70% City of Busselton Capes Region South West Western Australia 60% 50% The dependency ratio in the City of Busselton was 61.2% in 2013, which represented a small annual increase of 0.4 percentage points from the level recorded in 2012 (60.9%), and a rise of 3.0 percentage points from the average in 2008 (58.3%). 40% 30% The City of Busselton has a higher dependency ratio than the averages for the Capes Region (58.3%), South West (54.5%) and Western Australia (46.2%). Source: ABS Employment Capacity Participation Rate Level (%) Level (%) Annual Level (%) Avg ann % chg (a) % change (a) City of Busselton Capes Region South West Western Australia Dependency Ratio Level (%) Level (%) Annual Level (%) Avg ann % chg (a) % change (a) City of Busselton Capes Region South West Western Australia Note: (a) Changes are percentage point changes. Source: ABS , DEEWR & Lawrence Consulting City of Busselton Economic and Demographic Profile 16

19 Housing & Investment Dwelling Approvals The number of new dwelling approvals in the City of Busselton was 691 over the year to the December Quarter 2014, which represented a significant annual increase of 17.1%. The number of new house approvals increased annually by 18.9%, although the number of other dwelling approvals (i.e. units / townhouses) fell by 36.8%. The total value of residential building approvals in the City of Busselton was $231.8 million over the year to the December Quarter 2014, which represented an annual increase of 20.4% from the level recorded in the year to the December Quarter 2013 ($192.5 million). The annual growth in total value of dwelling approvals was due to an increase in the value of new house approvals (up 23.8%) and despite decreases in the value of other dwelling approvals (down 25.1%) and alterations & additions (down 7.7%). Dwelling Approvals City of Busselton New Houses Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Source: ABS Other Dwellings (Units / Townhouses) Non-Residential Construction The value of non-residential building approvals in the City of Busselton was $26.2 million over the year to the December Quarter 2014, representing an annual decrease of 22.9% from the value of approvals for the year to the December Quarter 2013 ($34.0 million). Value of Non-Residential Building Approvals City of Busselton ($'000) 30,000 25,000 20,000 Private sector Public sector In contrast to total non-residential approvals, the value of private sector approvals increased annually by 4.6% to $24.2 million in the year to the December Quarter 2014, although the value of public sector approvals fell by 22.9% to $2.0 million. 15,000 10,000 5,000 0 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Source: ABS Building Approvals City of Busselton South West Level Annual Level Annual Level Annual Dec Qtr 2014 % change Yr to Dec-14 % change Yr to Dec-14 % change Number Dwellings: , New houses , Other dwellings (units/townhouses) Value ($ 000) Dwellings: 55, , , New houses 51, , , Other dwellings , , Alterations & additions 3, , , Non-dwelling: 5, , , Total building 60, , , Source: ABS