The Australian Real Estate Market is in need of more property as ABS announces an historic milestone with the Australia population exceeding 23 million. In 2014, Australian Bureau of Statistics anounced Australia hit a new population landmark by reaching and then exceeding the 23 million level. Since records began the Australian population has had a year on year rise.
With the notable exception of the years around World War I the population has climbed steadily and is forecast to continue upwards. Recent growth in the population has come despite a falling natural birth rate. The overall population has increased in spite of this mainly due to a pro-immigration policy used by the Australian government.
With immigration steady and demand going up, an investor, or family wanting to live or send a child to university, are making an entry in to probably the safest housing market in the world right now.
Australian population reaches 23 million milestone
This policy is being demonstrated in 2013 with the announcement by the Australian Government that they intend to grant upwards of 200,000 working visa requests to skilled overseas workers this year. With many developed countries closing their doors on immigration, Australia is doing the opposite.
So much of what Australia stands for is an open door policy to peoples of all nations looking to go and live somewhere better. It is noticeable that for a country of relatively small population in the global order, Australia has consistently punched well above its’ weight in areas such as economics, cultural impact and sporting achievements.
Sometimes its worth reminding that geographically Australia is only marginally smaller than countries like the US or China, yet has a population of 23 million - about the same as Beijing!
Relatively small, the population has a dynamic, productive and progressive spirit to it. Anyone who has visited Australia can attest to the multiculturalism and open arms feeling each person receives whether they are simply visiting, starting studies or are there to roll up their sleeves and get to work.
While making it difficult for tenants to find the right home, it has produced a surge of demand. Supply is being kept tightly monitored and controlled by the government which means that the conditions are perfect for investment. Property investors are gaining huge rewards as they see all the assets in their portfolios in high demand to be rented or bought, all the while constantly accruing in capital growth.
Added to investors delight who already own property is the latest prediction which shows the anticipated number of new-build apartments in Melbourne as decreasing in the next 2-3 years, meaning only further demand.
At the moment buying Australian property is a win-win situation. The prices are still affordable and the standards are extremely high. With immigration steady and demand going up, an investor, or family wanting to live or send a child to university, are making an entry in to probably the safest housing market in the world right now. Even during the global financial crisis Australia did not suffer the dramatic downturns that happened in the US and Europe. The Australian housing market is in good shape and represents the best option for foreign investment.