Geraldton Predicted to Grow by 15,000 People by 2026

There is plenty of land for sale in Geraldton, but if the population growth predictions are any indication, it could become significantly more expensive in the next few years.

A website called put together something called the Big Sky Big Ideas presentation, and projected growth in Australia, nationally, by state, and by region. Geraldton was ranked 22nd out of 139 cities in WA for its 2008-2009 population growth, and more is projected.

The mining boom is creating a demand for the service sector, and Geraldton, a hub for the mining industry, is a natural place for growth. According to the prediction, Geraldton will grow by at least 15,000 residents by 2026.

If anything, we believe that number could be too conservative. There are so many factors involved in WA’s growth that we can’t see Geraldton failing to double in size during the next ten years. There are a lot of infrastructure improvements underway or planned for the near future, which will increase the demand for construction workers, and there are more mining projects on the horizon.

The mining projects may not produce as many jobs in Geraldton, but the CIty’s function as a hub means that more service sector businesses and jobs will have to arise to meet increased demand. The study asked whether Geraldton would be ready to face potential shortages in housing, capacity, infrastructure, and labour force, referring to it as the “big question.”

The spike of housing prices in Perth is mentioned as a possible trend for elsewhere in WA as the economy continues to grow. According to the study, there could be a shortage of as many as 30,000 dwellings without increase capacity. Geraldton Heights Estates plans to eventually have 2,500 new home sites, which will take care of some of that need.

Western Australia is currently driving exports, with 44% of all Australian exports coming from WA. Also, mining investment has reached a 4.5% share of the GDP, which is more than double that of most previous booms. The next boom is projected to be even higher than the current one.

Geraldton stands to benefit more from this boom than any place in WA if it can keep up with the projected growth. Call Ray White Real Estate Geraldton to find out more.