How Migration Will Benefit the Australian Property Market
    • 1 March 2023

    How Migration Will Benefit the Australian Property Market

    Migration has had a significant impact on the Australian property market, helping to give the economy and property prices a noticeable boost over the past few years. Australia continues to be a popular destination for people all around the globe, and the influx of new migrants to this country has resulted in some interesting benefits for property investors.

    At Property Club, we provide informative support to Australian property investors looking to get the most from this market. One of the ways in which we help is to detail important trends that have been shaping the market in recent times. Migration is a trend that has been impacting Australia for decades, but there is reason to believe that the near future will present loads of great opportunities for investors thanks to the influx of new Australian residents.

    Why More Migrants Have Been Coming to Australia

    Australia has long been a popular destination for migrants, with people from all corners of the world seeking out the opportunities and lifestyle this vast and diverse country offers. The ongoing influx of new arrivals has significantly impacted the Australian property market, and this trend is set to continue in 2023 and beyond.

    According to Australian Bureau of Statistics data, the country's population is projected to reach 30 million by 2031, primarily driven by migration. This influx of migrants is largely driven by the country’s more relaxed migration policies and the promise of stable employment and education opportunities. With the strong possibility of a population increase of 6 million people in just 7 years, there will be a growing demand for housing and infrastructure, particularly in major cities such as Sydney, Melbourne, and Brisbane.

    And Australian property investors should be excited by what this demand will mean for their investments.

    Why Australian Investors Should be Excited By This Trend

    The impact of migration on the Australian property market is particularly noticeable in major cities, where most new arrivals tend to settle. In Greater Sydney, for example, the population is projected to grow by 6.1 million by 2041, most of which comes from overseas migration. This will further pressure an already tight housing market, with prices likely to continue rising as demand outstrips supply.

    With more people buying and renting homes, new housing developments getting built, and property prices continuing their steep rise across Australia's major cities, now is the time to begin or expand your investment portfolio. All projections are pointing towards further growth in the next decade, so now is the time to make the most of these opportunities.

    Future Trends in Australian Migration

    The Australian Government's announcement to increase the planning level for the 2022-23 permanent Migration Program to 195,000 places will likely impact the Australian property market significantly. With an increase in migration, demand for housing is expected to rise, potentially leading to increased property prices.

    Another factor driving continued high levels of migration to Australia is the country's education system. With many high-quality universities and schools, Australia is a popular destination for international students seeking a world-class education. Many of these students settle in Australia after completing their studies, further fuelling the demand for housing.

    Choose Property Club to Maximise Your Investment Returns

    Migration will continue to be a significant driver of the Australian property market in 2023 and beyond. As more people choose to make Australia their home, the demand for housing will only increase, particularly in major cities. This will likely lead to further price growth in the property market, making property investment an attractive option for those looking to capitalise on this trend.

    To maximise your property investment returns, contact Property Club today at enquiries@propertyclub.com.au to find out how we can help!

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