Economic Spotlight on Vincent

Economic Spotlight on Vincent

In 2024, our consultants conducted an Economic Health Check for the City of Vincent economy as council looked to explore recent trends and identify what factors or industry changes were driving the economy. Here's what we found.

Recent growth after a period of decline

Vincent’s economy grew by an estimated 0.8% p.a. in the five years to 2022/23. This was well above the decade average (-0.3% p.a.) which was influenced by a number of years of decline between 2013 and 2018 when the WA economy experienced a post-Resources Boom downturn.

Weaker productivity

The largest drivers of employment growth in recent years have been healthcare and retail trade, both relatively low value added sectors. Coupled with losses in electricity
industry economic activity (due to the relocation of some services), this has led to declining worker productivity.

Transport administration hub

The transport sector has grown off the back of increasing demand for skills and services in the State Government’s Public Transport Centre due to the Metronet project. This has also led to the development of a new Public Transport Operations Control Centre.

Electricity, Gas, Water and Waste is a major specialisation

Utilities value and employment is high due to the head office of the Water Corporation in Leederville. The sector has been impacted by the relocation of some electricity services in East Perth due to redevelopment plans.

Highly qualified resident base presents some opportunities

Vincent’s resident base is more qualified than the Greater Perth average with many choosing to reside there to access the higher paid professional service jobs in the City of Perth. Enabling infrastructure, supportive dwelling design and affordable co-working places could support a greater share of knowledge economy residents to work locally.

New developments could boost local demand and also create potential for greater investment

There has been some boost to non-residential developments in recent years and a major mixed use development in Leederville could generate an influx of new population driven industry demand. Strategic planning and marketing of locations like this as employment, not just residential, precincts could help unlock more commerical and government investment.

About our economic consulting team

Our economic consulting team is engaged by councils and organisations across Australia to provide in-depth insights behind the data. Our experts draw on their knowledge of urban and regional economic development and years of experience working with decision makers across Australia. This information is used by councils to develop evidence based economic development strategies, investment attraction plans and support grant applications.

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