The current average national growth rate for the Australian population is 1.7 per cent per annum.
Over the first three months of 2013 the Australian population increased by 114,751 new residents (there have only been five previous quarters on record over the past 30 years where the population has grown by a larger amount). Approximately 36 per cent of this growth was attributable to natural increase, while the other 64 per cent came from net overseas migration. In addition, in 2012, 150,000 new households were created in Australia.
In August this year, the ABS reported 53,470 permanent and long-term arrivals. There were 30,390 permanent and long-term departures, resulting in a net increase of 23,080 new permanent and long-term movements. An annual summation of the overseas arrivals and departures data shows 680,200 arrival movements and 371,440 departure movements; a net gain of 308,760 permanent and long – term residents who require a roof to live under.
Taking a more granular look at population growth trends, we see that, for the year ending March 2013, Western Australia had the highest population growth at 3.4 percent, followed by the Australian Capital Territory at 2.2 per cent. Queensland, with a growth rate of 2 per cent, rounded out the top three. Victoria, the Northern Territory, New South Wales, South Australia and Tasmania, listed in declining order of growth, complete the list.
Population growth is perhaps the most important prerequisite for increased housing demand, which in turn places upward pressure on property values. A region’s demographic profile and population growth trends are two of the key macro economic factors on which Blue Wealth recommendations are based. By analysing shifts in demographic makeup and population movement, Blue Wealth is able to isolate those areas with the fundamental elements most conducive to growth.