Well, here we are, the end of another year and decade!
Exciting times moving forwards, with population growth at the forefront of our residential property market recovery and therefore wealth.
The federal government just released its Mid-Year Economic and Fiscal Outlook (MYEFO).
https://budget.gov.au/2019-20/content/myefo/index.htm
One of the interesting pieces of information was about population growth buried in the 397 pages of the report.
https://budget.gov.au/2019-20/content/myefo/download/MYEFO_2019-20.pdf
It confirmed that population growth is assumed to average around 1.7% per year over the forecast period.
So as our population is currently around 25.5 million that adds up to 400,000+ population growth per annum.
https://www.abs.gov.au/AUSSTATS/abs@.nsf/Web+Pages/Population+Clock?opendocument&ref=HPKI
Taking into account that building approvals are only at around 13,000 per month, what does that tell you about the demand for our properties moving forward?
https://www.abs.gov.au/ausstats/abs@.nsf/mf/8731.0
Great positives to go into the new year and decade with.
Have a safe and wonderful festive season, looking forward to catching up in the New Year and decade!
Property Club is at the forefront of the best properties in the best areas, best placed for this capital growth upswing – make contact with your Property Mentor or hit enquiries@propertyclub.com.au for further information on the great properties available for Club members!
Troy Gunasekera
National Manager