- 16 March 2018
What Would Australia Look Like With a Population of 36 Million and What Will This Mean for our Property Markets?
ABC Four Corners had a fascinating show on the other day titled : Big Australia: Are We Ready?
Whichever side of the fence you sit on, whether you agree or disagree with a 'big Australia' - the most recent facts from the Australian Bureau of statistics (ABS), show that Australia's population could reach up to 70 million people by 2101!
Let alone as per the graph above, the 50% increase in our population in the next 30 odd years!
So, with increasing demand for property and less supply coming on board, there will continue to be a very strong platform with our property markets moving forwards, keeping in mind, that with most of our population in the mainland and close to our coast - this will continue to be good for our capital cities.
Low mortgage arrears shows housing market unlikely to collapse: Westpac
Westpac’s Housing Pulse Report for 2018, shows :
- By the end of 2017 the arrears rate was 1.2 per cent, down slightly from 1.3 per cent at the end of 2016
- Arrears were in line with the long-run average
- Arrears well below historical peaks of 1.7-to-1.9 per cent.
- In the supposedly overheated New South Wales market, mortgage arrears are the lowest nationally at just 0.8 per cent, below the state's long-term average of 1.4 per cent.
Have a great weekend and catch you next week!
Warm Regards, Troy Gunasekera
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