Population growth has the biggest effect on the rise and fall of property market. The growth of population and the wealth of the people determine the price of properties and they create a significant impact on the property market.

The Growing Australia

The planet Earth is now home to 7 billion human beings as of October 31, 2011. The population continues to grow at 1.1 percent per year, meaning that on 2020, exactly 8 years from now, there will be 7.6 billion people overcrowding the world.

In Australia alone, there are 22,620,600 people living within the country as of June 30, 2011. There is a rapid growth of 1.4 percent or about 320,800 people within 2011. 47 percent of the growth accounted for natural birth and the other 53 percent are immigrants.

According to Australian Bureau of Statistics, Australia is also an ageing population. The median age is now 37.1 years compared to 4.7 years younger which was 32.4 years as of the past 20 years.

Are Australians Moving?

As of the moment, Australia has its lowest tendency to move. On 2011, there are only 7,150 people who moved to Queensland from other Australian states. This is so far the lowest rate Queensland had since 1981. The other states like the NSW had its lowest number of resident outflow since the late 90’s.

People have become cautious to move interstate after the global financial crisis.

Changing

With the increase in cases of broken marriages, the dominant housing type within the country fell from family household to single-person household or single-parent household.

In the following years however, it is projected that the Total Australian population will increase. It is expected to reach a total population of over 28 million by 2031. From 7.8 million household in 2006, the households will grow by 11.4 and 11.8 million by 2031. However, the average people within each household will decline from 2.6 members to 2.4 and 2.5 by that year.

This data represents that the household growth will be much faster than the population growth. Given that households will rise by 1.6 percent per year from 2006 to 2031 and the population to grow by 1.3 percent per year from 2006 to 2031, there will be 3.8 million extra households by that year. Effects of population growth, the ageing community and the changes of the demands of the society will lead the people to choose to have smaller members within the family or live alone. The demands for dwellings and services will also change in accordance to the requirements of people.

Effects on Property Market

Australian Coasts’ abundant natural beauty gives a lot of advantages over city centers. A lot of expansions are planned to develop the region as well as putting up modern infrastructures and services that will offer convenient living as well as job opportunities.

The Coastal region’s population growth continues to rise and the developments will further attract more people. It is necessary however that the plans for further developments be done now before the movers arrive.

Sunshine Coast vs. City

The Department of Foreign Affairs and Trade labels the Australians as the “most urbanized and coast dwelling populations in the world”. More and more people move away from cities to the coast whether it is for lifestyle or work.

Property buyers look for regions with excellent population growth, good economic growth, infrastructures, developments or expansions, and new housing projects. Sunshine Coast is very near to Brisbane and it is a home for hinterlands, beaches and other attractions, that’s why attracts more and more investors of any type.

Learn more about the growth in Australia.