RESIDENTIAL PROPERTY
WITH the escape to the country trend reaching its end, population growth across the next two decades will be focused on Australia’s four biggest cities...
According to research from PEXA’s .id, Australia’s national population is forecast to surge by 7.4 million by 2041 with two thirds of growth to be focused in...
The four largest states are set to receive 93% of Australia’s forecast population growth to 2041, with the four capitals receiving 67% of that total growth...
With Victoria’s population forecast for an additional 2 million people including 1.6 million in Greater Melbourne and requiring 723,000 additional dwellings...
While NSW’s population is forecast for another 1.7 million, including 1.2 million in Greater Sydney and requiring 582,000 additional dwellings...
Queensland is forecast to see a further 1.6 million with 1 million occurring in Greater Brisbane and requiring 381,000 additional dwellings...
While Western Australia is forecast for another 0.9 million with 0.8 million occurring in Greater Perth and requiring 334,000 additional dwellings...
To keep up with population growth, an additional two million dwelling across these cities will be required...
This comes after a five-year period of significant growth in the country’s regions, which was accelerated by the global COVID-19 pandemic and work from home trends...
The reopening of borders heralded in the return of urban population growth, which is now being driven by the availability of study and work opportunities and...
“Where these areas typically lose population – predominantly young people, to larger cities – COVID and university lockdowns had put a halt to...
“We often talk about population and housing challenges at the national, state or local government area level, but this work quantifies the impacts at...
“Overseas migration will continue to have a significant impact on the future of Australia, but it won’t affect every community in the same way.”...
At the same time, both Tasmania and the Sunshine Coast are forecast to see an increased imbalance in population demographics...
With young people continuing to leave Tasmania as retirement aged people move into the state. While on the Sunshine Coast, the retirement aged population is...
The growth trend means the pressure on the housing market and the current crisis is unlikely to be alleviated in the near future...
The most recent National Housing Finance and Investment Corporation State of the Nation’s Housing report forecasted a national housing deficit of...
Meanwhile a recent study commissioned by Aware Super found a shortage of affordable housing for essential workers near their jobs in Australia’s capital cities is...