Attachment 7 - Economic Need and Impact Assessment · MCU13/0251

Table 2.2: Population and Household Projections, 2013-2021
                                2013         2015           2017        2019        2021        2023     Ave Ann
                                                                                                         Growth,
                                                                                                        2013-23*

Population
Trade Area                      4,488        4,563          4,637       4,706       4,774       4,837       0.8%
Former Noosa Shire             52,598       54,775         56,333      57,157      57,707      58,013       1.0%
Queensland                  4,661,577    4,849,285      5,039,432   5,231,619   5,425,360   5,619,982       1.9%

Households
Trade Area                      1,739        1,775          1,811       1,845       1,880       1,912       1.0%
Former Noosa Shire             20,621       21,543         22,227      22,625      22,917      23,113       1.1%
Queensland                  1,670,723    1,744,269      1,819,228   1,895,471   1,972,836   2,051,088       2.1%

Average Household Size
Trade Area                       2.58         2.57           2.56        2.55        2.54        2.53      -0.2%
Former Noosa Shire               2.55         2.54           2.53        2.53        2.52        2.51      -0.2%
Queensland                       2.79         2.78           2.77        2.76        2.75        2.74      -0.2%

Source: PIFU (2011) and Economic Associates estimates


2.3        Implications for Retail Demand
The trade area is likely to have a lower average level of retail expenditure per household than
Queensland based on the following socio-economic characteristics:
• Lower average weekly household income;
• Higher proportion of income spent on housing costs; and
• Lower incidence of full time employment.
However, the trade area is also characterised by a relatively high incidence of retirees, who are
likely to have significant savings from which to make a range of purchases, particularly on
lifestyle related goods and services.
Population growth and household formation within the trade area is anticipated to be marginally
lower in the trade area than the former Noosa Shire, but significantly lower than the state
average.
The trade area represents a discrete coastal community separated from other urban areas by
Noosa National Park with a current population of approximately 4,500 persons. A discrete
residential population of this size can generally support a limited line supermarket to meet day to
day and weekly shopping needs. In addition to the resident population, the trade area, attracts a
significant number of visitors, which would add to the available expenditure pool within the
catchment.




Peregian Village Market Economic Need and Impact Assessment                                                        9
December 2013 13034 Report Rev 0