If you thought the ASX was dominated by junior resources companies from Perth, you were right.
In one of the quirks of the local market, the suburb of West Perth plays home to 233 ASX-listed companies — the second-highest location after the Sydney CBD.
It’s always been a quirk of the ASX scene that a lot of resources companies maintain offices in West Perth, and to those outside of Perth it’s always seemed like a weird quirk.
However, Star Investing analysis of the registered offices of ASX-listed companies has found just how weird this trend is.
While Sydney and Melbourne are, as expected, the capital cities with the largest amounts of ASX-listed companies due to office concentration in their CBDs, several Perth suburbs make an appearance on the list.
In fact, given Subiaco, West Perth, and Perth are all neighbouring postcodes it could be reasonably assumed that these three suburbs make up a cluster for junior resources companies.
Anecdotally, several junior resources companies have told Star Investing that Subiaco and West Perth offer office space within a short distance from the Perth CBD, without attracting the premium attached to space uptown.
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