A Perth City Deal is essential for the city and must be prioritised by whichever political party that will win in the upcoming federal election, according to the Real Estate Institute of Western Australia (REIWA).

Federal and Western Australian governments signed a Memorandum of Understanding (MOU) to negotiate a City Deal for Perth in April 2018, but there has been no further development.

“We’ve been waiting for Perth’s City Deal to come into fruition for the last 12 months. During that time, Hobart, Darwin, Adelaide and South East Queensland have all received their City Deal, while WA’s remains on the back burner,” said REIWA President Damian Collins. “It’s essential that Perth receives a City Deal. This will provide much-needed funding and collaboration between all levels of government to ensure WA can meet the needs of its growing population.”

Perth’s City Deal will include much needed funding for infrastructure projects and commitment by all levels of government to ensure land use policies promote infill development and the sustainable growth of Perth. The deal is also set to explore value capture that facilitates land value uplift in infrastructure corridors to help fund METRONET, a public transport program in Perth.

Hobart is already experiencing the positive impacts of a City Deal. “Since having their City Deal and federal funding commitment, Hobart’s economy has improved significantly. The city has seen house prices increase and consumer confidence build,” Collins said. “Western Australia is crying out for the same kind of federal support. Whoever is appointed minister for cities following the election must have a Perth City Deal as a top priority.”