A recent report by the Bankwest Curtin Economics Centre has forecast that Western Australia's population will reach 4 million by the year 2043, a significant increase driven by expected growth in mining investment and iron ore prices. This growth reflects a broader trend of urban expansion in regions rich in natural resources, but it comes with serious implications for housing availability. The report highlights that while the population is set to increase by one million over the next 17 years, the shortfall in housing supply could offset these benefits, leading to potential economic challenges for the region.

Professor Alan Duncan, the director of the BCEC, emphasized the direct relationship between population growth and housing availability, suggesting that without meeting housing targets, Western Australia might struggle to accommodate its burgeoning population. The modelling also projects that the competition for skilled labor between Western Australia and Queensland will intensify as the latter prepares for the Brisbane Olympics in 2032, further complicating the labor market in WA. If these housing deficiencies continue, they could result in higher living costs and reduced quality of life, limiting the region’s attractiveness for new residents and skilled workers.

The implications of this population growth are multi-faceted, affecting economic planning, infrastructure development, and local communities in Western Australia. Policymakers are urged to address the housing crisis proactively to ensure that the predicted growth can be supported sustainably. As WA gears up for this transformative period, the urgency of aligning housing strategies with population growth targets cannot be overstated, especially in an era marked by fluctuating resource prices and increased capital investment in the mining sector.