Last Friday the Blue Wealth team and I had the pleasure of hearing demographer and social commentator Bernard Salt speak at our first business partner briefing of 2017.
I went into the presentation with pretty high expectations. If you’re not a fan girl like I am, Bernard is famous for coining the terms ‘sea-change’ and ‘tree-change.’ He also dabbles in reflective and amusing acronyms like ‘NETTEL’ – Not Enough Time To Enjoy Life and ‘KIPPERS’ – Kids In Parents Pockets Eroding Retirement Savings.’ More than that, his ability to live above the noise and look to the future highlighted how lucky we are to call this great southern land home. Here’s just some of what he covered:
The Australian Economy
The Australian economy has not had a negative quarter of trend Gross Domestic Product growth since December 1991 – that’s 100 quarters of consecutive positive movements. All that in the face of local and global turmoil that included the GFC, a reduction in resource prices and more leadership spills than I can count on one hand.
The take away: the Australian economy is stable, consistent and conducive to job creation. All of which create demand for property.
The Era of Aging
NEWSFLASH: The Australian population is aging! As of 2016, there were 3.7 million Australians aged 65 and over. By 2050, that number will be 7.9 million and I’ll be a 63 year old spring chicken.
The take away: the aging Australian population will shift demand for property toward low maintenance, high amenity dwellings.
Between 2015 and 2050, our eastern seaboard capitals will account for the lion’s share of population growth:
- Melbourne: + 3.1 million
- Sydney: + 2.8 million
- Brisbane: + 2.3 million
Individually, Sydney, Brisbane and Melbourne will add nearly as many people as Los Angeles (LA) will between 2015 and 2050 – big numbers given LA is more than three times the size of Sydney and Melbourne, and six times the size of Brisbane.
The take away: Long term demand for property is robust, particularly in our capital cities.
Single and Ready to Mingle
No luck with Tinder? Perhaps a move to one these towns will better your strike rate:
- Mullumbimby: the ratio of women to men in Mullumbimby is 1.63:1. That means for every two men, there are more than three women. Good odds for those men single and ready to mingle
- Roxby Downs: the ratio of men to women in Roxby Downs is 1.88:1 – or nearly two men for every woman. Unless polygamy is legalised, that leaves a lot of lonely men
Motivated by Bernard, I’ve come up with my own acronym: ‘ACT’ – Action Creates Tomorrow. I’m not a betting man, but it’s safe to say I should be expecting a call from Oxford Dictionary any time now.