Future population of Australia

Looking back at the most recent Australian Bureau of Statistics (ABS) national population projections from Q4 2013 the data looks at the projected growth in national population from 2012 to 2101 and provides a fascinating incite in to the potential future of Australia.

Projections are also provided at a state and capital city level from 2012 through to 2061, at which time the national population is projected to be 41,513,375.

So how do these projections affect the property market as we currently know it?

The answer is rather quite simple, as our population continues to expand, demand on property increases relative to the population – people need somewhere to live – and most people are attracted capital cities as they offer more in the way of opportunity and lifestyle.

According to projections from the ABS and RP Data, Perth will be the capital city taking centre stage when it comes to the average annual growth (see below graph).

Preliminary auction results released by APM for period 15-22^nd Feb 2014 suggest that gains made in 2013 are here to stay, the second ‘real’ auction weekend of the year have seen near record numbers if auction properties listed for sale and continuing high clearance rates across Melbourne and Sydney.

Auction Clarence Rates:

Sydney: 86%
Melbourne: 77%
Brisbane: 69%
Adelaide: 39%
(*Source APM)

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