A rising tide lifts all boats.

Significant publicity has been devoted in 2013 to the substantial levels of investment in the Town Centre area.

Although long touted by many property experts that Bassendean offers investors all the right attributes, only in the last twelve months have we witnessed the finalisation of proposals and commencement of building.

Building Report Graph 2012 - 2013

  2008/09 2009/10 2010/11  2011/12 2012/13  
Retail

$370,000

.

$97,000

$0

$19,313,000

Industrial/Commercial

$5,830,437

$3,347,673

$2,709,091

$9,229,595

$2,009,598

Residential

$28,469,768

$29,454,715

$42,443,631

$24,659,052

$32,727,768

Other Approvals

$1,634,625

$884,900

$0

$0

$2,213,508

Total

$36,304,830

$33,742,588

$45,249,722

$33,888,647

$56,263,874

 

Overall, the building activity across the Town of Bassendean generated $56million in the last twelve months which is 66% above 2011/12.  This growth has been shared between the retail and residential sectors. The retail figures consist of six approvals, with one development in the form of Bassendean Shopping Village is valued at $18m alone. In contrast, the residential figures stem from 158 approvals, giving an average value of $207,000.

While the upturn in building and property investment in and around the town is widely welcomed and there are few detractors, the actual benefits which stem from such investment is not easily defined and consequently not well understood.

Members of EDAC with executives of jadd Developers at the Construction site office for 85 Old Perth Rd.

Members of EDAC with executives of Jadd Developers at the construction site office for 85 Old Perth Rd.

At the Economic Development Advisory Committee (EDAC) Meeting on the 31st July 2013, the Economic Development Officer presented an analysis which specifically addresses this and spells out in clear terms the potential benefit which should trickle down from local investment.  We say ‘should’ because the following figures are drawn from research and modelling based on a wide range of statistics.  Individual and local characteristics can vary the eventual effects, for better or for worse.  Nevertheless this type of analysis is helpful in better understanding how investment in one place can spill over into a much wider area and illustrate as the saying goes, a rising tide lifts all boats.

The full report can be downloaded here. “Impact Report for Bassendean from current and planned developments”

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