Tom Stone

Research Officer

Key Performance Indicators

• 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

Purpose

• 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

Methods of measurement

Gross local product per capita

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000

Source: National Institue of Economic and Industry Re-search 2011

• Adjusted for inflation to 2007/2008 equivalent

• Steady upward trend over the period

• Since 2007 trend has flattened, in part likely due to GFC

• 20 years of figures show gradual upward long term trend

• Approx 1% per annum growth in the past decade

• Recent uptrend driven by North Fremantle development

1991

1993

1995

1997

1999

2001

2003

2005

2007

2009

0

5000

10000

15000

20000

25000

30000

35000

Fremantle Population

Source: Australian Bureau of Statistics, Census of Population and Housing, 2006, 2001, 1996, and 1991

Population

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 20090

5000

10000

15000

20000

25000

30000

35000

40000

Total Workforce Employed in Fremantle

Source: National Institute of Economic and Industry Research (NIEIR)

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%)

Participation rate• Fremantle

participation rate trended toward state average over the period

• 2011 figures from different source, showing inflated results

• Closing differential between Fremantle and Perth Metropolitan area

1991 1996 2001 2006 201140%

45%

50%

55%

60%

65%

70%

75%

80%Fremantle Participation Rate

Fremantle

Perth metroplitan area

Western Aus-tralia

Australia

Source: Australian Bureau of Statistics, Census of Population and Housing, 1991, 1996, 2001 and 2006Department Education, Employment and Workplace Relations, Australian Regional Labour Markets, March Quarter 2011

Unemployment rate

1991 1996 2001 2006 20110.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

Fremantle

Perth Metro Area

WA

Australia

Source: Australian Bureau of Statistics, Census of Population and Housing, 2006, 2001, 1996, and 1991Department Education, Employment and Workplace Relations, Australian Regional Labour Markets, March Quarter 2011

• Steadily falling rate

• 2011 likely to see flattening as full employment reached

• Reflects both gentrification or Fremantle and broader state trends

• Census figures, adjusted for inflation to 2010 equivalent

• Strong upward trend over the period

• Increasing affluence in Fremantle

• Next census 2011 1996 2001 20070

200

400

600

800

1,000

1,200

Median Weekly Household Income

Source: Australian Bureau of Statistics, 1996, 2001, 2006 Census of Population and Housing

Wages

Mean taxable income

• Australian Taxation Office figures, adjusted for inflation to 2010 equivalent

• Steady real wage growth in taxable income across the City of Fremantle area

1999 - 2000

2000 - 2001

2001 - 2002

2002 - 2003

2003 - 2004

2004 - 2005

2005 - 2006

2006 - 2007

2007 - 2008

2008 - 2009

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

Source: Australian Taxation Office, Taxation Statistics, 1999- 2009

Business and technology

Technology

• 36% of residents with access to broadband in 2006

• Expected upward trend in next Census

• Monitor in future

Business

• Estimated 1800 active businesses in Fremantle

• 83% of businesses have email

• 30% of businesses have a website

Individuals with bachelor degree (or higher)

• Long term upward trend

• Fremantle above average

• Difference is increasing

• University of Notre Dame?

1991 1996 2001 20060.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

Residents with a Bachelor's Degree (or higher)

Fremantle

Perth

Western Australia

Australia

Source: Australian Bureau of Statistics, Census of Population and Housing, 1991, 1996, 2001 and 2006

Net lettable area and vacancy

• 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

1990 1993 1997 20020

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%Commercial Industrial Retail Space Combined Vacancy Rate

Squ

are

Met

res

Source: Department of Planning Land Use Survey 1990, 1993, 1997, 2002

Fremantle business confidence

• Profitability & confidence drop during “GFC”

• Profits have remained flat, confidence is shaky

• RBA has resumed tightening cycle

• Next survey due in September

Aug-08 Feb-09 Aug-09 Feb-10 Aug-100%

200%

400%

600%

800%

1000%

1200%

0%

1%

2%

3%

4%

5%

Businesses expecting an increase in profit over next 12 months

Business Intending to Continue Operation

RBA Cash Rate

Cas

h R

ate

Source: Asset Research Business Climate Survey, 2008 - 2010

Indicators to monitor in the future

• Institutional membership– Fremantle Chamber of

Commerce– Experience Perth

• Retail and commercial space trends

• Housing affordability

• Value of non-residential building applications

• People employed in research and technical services