Population growth creates housing demand

Population growth creates housing demand

Posted on Thursday, June 27 2013 at 3:12 PM

Australia’s increasing population is resulting in housing demand, according to RP Data.

research director Tim Lawless says the Australian Bureau of Statistics recorded
22.9 million residents at the end of last year, but that figure has since
increased to 23.094 million. The growth was driven by strong net overseas
migration, which accounts for 60 per cent of the total population growth. A
record number of births also added to the overall tally.

had the highest levels of population growth, with an additional 99,548
residents at the end of 2012, either through natural increase or interstate

recorded the second largest number of new residents at 92,453, followed by New
South Wales, where there were 90,441 more residents.

both states are sourcing the majority of their population growth via overseas
migrants, Queensland has historically recorded a substantial net interstate
migrant inflow,” Lawless says.

year 11,354 net new residents moved to Queensland from other Australian states,
while New South Wales lost a net 17,761 residents to other states.”

Australia’s population is growing at almost twice the pace of the national
average. Its population increased by 3.5 per cent over the 2012 calendar year
and has attracted the third largest number of net overseas migrants, with
52,306 new, permanent or long-term residents moving to Western Australia.

raw numbers, Western Australia recorded the fourth largest number of new
residents but was the state to record the fastest rate of population growth by
quite a wide margin,” Lawless says.

Australian Capital Territory also recorded a rapid rate of population growth,
up 2.3 per cent in 2012. However, Tasmania and South Australia recorded the
least amount of population growth, up by 0.9 per cent and 0.1 per cent

Article source: http://feedproxy.google.com/~r/API_Property_News/~3/buvFqXPD3vw/population-growth-creates-housing-demand