Population points to housing need

“Australia’s growing population points to a need for more housing, which is great news if you’re in the market to invest…”

Demographic statistics released this week from the Australian Bureau of Statistics suggest housing pressures will continue, with population growth at a robust rate.

The figures show Australia’s population reached 23.13 million in mid-2013, having added over 407,000 people in the year to June 2013. This is equivalent to a growth rate of 1.8% over the year, above the long term average. The natural increase in population (births minus deaths) added 162,656 people in 2012/13. That represented an increase of 2.6% over the previous year.

Net overseas migration increased by 8.6% in 2012/13 to 244,371 (adding 1.1% to overall growth).

The Housing Industry Association says Australia needs to focus on new housing to ensure our thriving population have adequate rooves overhead.

“The latest data shows Australia’s population has continued to grow at an above average pace and official projections show this is expected to continue. To date there has not been any commensurate boost to the supply… Read More

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