Premier Mark McGowan has this message for West Australians: buy a house now because the good times are coming back.

Exactly one year after The Sunday Times heralded early signs of life for WA’s stagnant economy, the results are in — and they are conclusive.

Data released on Friday showed the State’s domestic economy expanded 1.1 per cent in 2017-18, a remarkable turnaround after plummeting 7.1 per cent in 2016-17 and four consecutive years of decline.

This week another big step was taken towards WA reclaiming its AAA credit rating when Federal Parliament enshrined in law the hard-fought $4.7 billion GST reform package, which The Sunday Times has campaigned for since 2014.

Nearly every month this year has brought news of renewed activity in the mining sector. Rio Tinto, Fortescue Metals Group and BHP have all announced new workforce-hungry iron ore projects and the State now boasts seven lithium mines, with a second $1 billion lithium processing plant on the way near Bunbury.

Mr McGowan said he had not felt more confident about WA’s economic prospects since sweeping to power early last year.

Excerpt only – read the full article at https://www.perthnow.com.au/business/housing-market/house-price-rise-on-cards-as-economy-confidence-improving-says-wa-premier-mark-mcgowan-ng-b881023908z

Original Article by
Josh Zimmerman
PerthNow

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