Latest NewsPopulation Breaks the 22 Million MarkFriday, 30 December 2016

Australia's ongoing population boom is creating opportunities as well as challenges.

During the September quarter Australia's residential population broke the 22 million mark. Fuelled by one of the highest population growth rates in the Western world, the number of Australian permanent residents was estimated to be 22,065,671 persons; 451,876 more than at the same time last year.

Population growth is an important indicator for the property market. At the macro scale, population growth is a default measure of housing demand.

Put simply, more residents equate to a larger requirement for housing.

The ongoing high rate of population growth is half of the reason why Australia has an ongoing shortage of housing and a booming property market.

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