Published on Saturday, 7 December 2024 at 9:00:00 AM
As we draw near to the end of 2024, we reflect on an economic outlook to which the City of Kalgoorlie-Boulder has brought resilience.
While Kalgoorlie-Boulder’s history – and future – is driven by mining, our city’s economy has diversified and a variety of industries now add value to our economy – tourism, renewables and downstream processing are all in the spotlight as emerging industries (and making significant contributions to state and national economies).
So while Kalgoorlie-Boulder is faced with commercial decisions from external factors such as cycles in the mining sector and international influences – not least of all fluctuations in the nickel industry – the fact is these are a mere speed bump in our progress and our city is well placed to keep growing and thriving.
Our population has remained stable, and demand for real estate is strong as new homes and units are being built. A new 398-home essential workers’ lifestyle village is being constructed near the Kalgoorlie-Boulder Airport; Stage 4 lots have recently been released at Greenview Estate; and the City is considering a market-led proposal for further residential development on a land parcel known as Area 1, along Gatacre Drive, Somerville.
Our vacancy rate for residential properties is still below 1.6%. It is still extremely desirable to enter our housing market, with a median house price in the high $300,000s. As of Thursday, there were 69 rentals on the market. Major investment projects continue to contribute to this demand – projects worth millions – in some cases billions – are underway, including the $1.5 billion Super Pit expansion. A new solar energy project is also proposed for land within the Kalgoorlie-Boulder Airport precinct.
In the business and workforce sector, a variety of initiatives and structures support our hard working, innovative business people and investors. The Kalgoorlie-Boulder Chamber of Commerce now has more than 667 registered businesses, and there are ample employment opportunities. One local business has received more than 100 applicantions for apprenticeships, up from around 15 during the last two-year period.
There is a range of accessible, affordable commercial and industrial land for development. Our strong local economy has a high captive market which delivers a high local spend – 74 cents in the dollar spent in Kalgoorlie-Boulder stays in the city, where there is a $1 billion annual local spend.
These initiatives, and more contribute to a strong economy and make Kalgoorlie-Boulder a place to invest and grow. Our economy is the lifeblood of Kalgoorlie-Boulder and is what makes us stand out. We are very well placed to reap a prosperous 2025.
Mayor Glenn Wilson
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