City of Fremantle, Economic
Development Strategy
Key Performance Indicators
Purpose
 Monitor KPI’s identified in Economic Development Strategy
 Measure impact of Economic Development Strategy moving
forward
 Identify areas of strength and weakness
 Types of Variables
 Economic measures (income, affordability etc.)
 Demographics, population, unemployment
 Investment and Business
Methods of Measurement
 For each KPI, figures have been sought for the past
20 years
 Where figures are unavailable is due to
 Data not collected over the whole of the period
 Technology not available throughout the whole
period
Gross Local
Product per capita
 Adjusted for inflation
to 2007/2008
equivalent
GLP Per Capita
$140,000
$130,000
$120,000
$110,000
$100,000
 Steady upward trend
over the period
$90,000
$80,000
$70,000
$60,000
 Since 2007 trend has
flattened, in part likely
due to GFC
$50,000
$40,000
Source: National Institue of Economic and Industry Research 2011
Population
Fremantle Population
35,000
 20 years of figures
show gradual upward
long term trend
30,000
25,000
20,000
10,000
5,000
Source: Australian Bureau of Statistics, Census of Population and Housing,
1991, 1996, 2001 and 2006
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
0
1992
 Recent uptrend driven
by North Fremantle
development
15,000
1991
Approximately 1% per
annum growth over past
decade
Fremantle Labour
Force
 Census data collection
began in 1999
 23% growth over past
decade
 Workers residence
Cockburn (20%)
Melville (18%)
Fremantle (16%)
Rockingham (6%)
Canning (5%)
Total Workforce Employed in Fremantle
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
1999
2000
2001
2002
2003
2004
2005
Source: National Institute of Economic and Industry Research
2006
2007
2008
2009
Fremantle Participation Rate
Participation Rate
 Fremantle
Participation Rate
trended toward state
average over the period
80%
75%
70%
65%
60%
 2011 figures from
different source,
showing inflated results
55%
Fremantle
50%
Perth
metroplitan
area
45%
 Closing differential
between Fremantle and
Perth Metropolitan area
40%
1991
1996
2001
2006
Source: Australian Bureau of Statistics, Census of Population and Housing, 2006, 2001, 1996, and
1991
Unemployment
Rate
Unemployment Rate
20.0%
Fremantle
 Steadily falling
rate
18.0%
Perth
Metro Area
WA
16.0%
14.0%
 2011 likely to
see flattening as
full employment
reached
Australia
12.0%
10.0%
8.0%
6.0%
4.0%
 Reflects both
gentrification or
Fremantle and
broader state
trends
2.0%
0.0%
1991
1996
2001
2006
2011
Source: Australian Bureau of Statistics, Census of Population and Housing, 1991, 1996, 2001 and 2006
Department Education, Employment and Workplace Relations, Australian Regional Labour Markets,
March Quarter 2011
Median Weekly Household Income ($)
Wages
$1,200
 Census figures, adjusted for
inflation to 2010 equivalent
 Strong upward trend over
the period
 Increasing affluence in
Fremantle
$800
$ per week
 Median household size 2.2
people
$1,000
$600
$400
$200
$0
1996
2001
 Next census 2011
Source: Australian Bureau of Statistics, 1996, 2001, 2006 Census of Population and
Housing
2007
Mean Taxable Income, adjusted for inflation
$80,000
$70,000
$60,000
$50,000
$40,000
$30,000
Mean Taxable Income (Fremantle
Residents)
$20,000
Mean Taxable Income (WA Residents)
$10,000
$0
1999 - 2000
2000 - 2001
2001 - 2002
2002 - 2003
2003 - 2004
2004 - 2005
2005 - 2006
2006 - 2007
2007 - 2008
2008 - 2009
Source: Australian Taxation Office, Taxation Statistics, 1999- 2009
 Australian Taxation Office figures, adjusted for inflation to 2010 equivalent
 Steady real wage growth in taxable income across the City of Fremantle area
Business and Technology
Technology
Business
 36% of residents with access
to broadband in 2006
 Estimated 1800 active
businesses in Fremantle
 Expected upward trend in next
Census
 83% of businesses have email
 Monitor in future
 30% of businesses have a
website
Residents with a Bachelor's Degree (or
higher)
30.0%
 Long term
upward trend
Fremantle
25.0%
Perth
Western Australia
20.0%
Australia
 Fremantle above
average
15.0%
10.0%
 Difference is
increasing
5.0%
0.0%
1991
1996
2001
Source: Australian Bureau of Statistics, Census of Population and Housing, 1991, 1996,
2001 and 2006
2006
 University of
Notre Dame?
Ratio: Median House Price/Median Household Income
14
12
10
8
6
4
2
0
40268
39903
39538
39172
38807
38442
38077
37711
37346
36981
36616
Housing affordability ratio doubled between 1996 – 2010
 Some reversal since GFC
 Reflected in broader WA housing market to some extent
36250
35885
35520
35155
Net Lettable Area and Vacancy, Fremantle
Commercial
Industrial
Retail Space
Combined Vacancy Rate
800,000
20%
18%
700,000
16%
600,000
Area in M²
14%
500,000
12%
400,000
10%
8%
300,000
6%
200,000
4%
100,000
2%
0
0%
1990
1993
1997
2002
Source: Department of Planning Land Use Survey 1990, 1993, 1997, 2002
2007 survey figures currently being sought
 Slight fall in commercial space over period, looking for reversal in trend
 Increase in industrial space, mostly due to O’Connor
 Retail Space flat
Fremantle Business Confidence
8%
70%
7%
60%
6%
50%
5%
40%
4%
30%
3%
20%
Businesses expecting an increase in profit over next 12
months
Business Intending to Continue Operation
10%
2%
1%
RBA Cash Rate
0%
0%
Aug-08
Feb-09
Aug-09
Feb-10
Source: Asset Research Business Climate Survey, 2008 - 2010
Profitability & confidence drop during “GFC”
Profits have remained flat, confidence is shaky
RBA has resumed tightening cycle
Next survey due in December
Aug-10
RBA Cash Rate
Business Confidence
80%
Indicators to monitor in the future
- Institutional Membership
- Fremantle Chamber of Commerce
- Experience Perth
- Value of non-residential building applications
- People Employed in Research and Technical Services