Increasing population leads to potential investment opportunities

By the resi financial blog team, 02 December 2013

Australia population growth and property

Australia's population is expected to reach 46 million by 2075, with all states to undergo some development and growth in the coming years. As a result, this could offer a number of investment opportunities across the nation. 

recent release from the Australian Bureau of Statistics (ABS) revealed the details of Australia's growth earlier this week (November 26).  The data indicated that not only would there be a growing population but, because of this, the nation would also see a shift towards an ageing population.

These changes have been rumoured for a long time, with many capital cities beginning to make adjustments to their existing infrastructure and housing development plans in order to help accommodate the influx of people expected, according to ABS Director of Demography Bjorn Jarvis.

"By 2040, Western Australia's population is projected to almost double in size, from 2.4 million people in 2012 to 4.7 million. Queensland will have gone from 4.6 million people to 7.3 million, and the Australian Capital Territory will have grown from 375,000 people to 586,000," said Mr Jarvis in a November 26 statement.

He went on to say that due to the nation's sustained low fertility, increasing life expectancy and high levels of migration, Australia would also experience a shift towards an older population.

Mr Jarvis highlighted how in 2012 the average age for Australians was 37. However, by 2040 it has been predicted this will increase to as high as 40.5 - raising a number of questions about accommodation and real estate development heading into the future.

For example, the number of people aged over 65 is expected to double, increasing from 3.2 million people in 2012 up to 6.8 million in 2040. Furthermore, the number of those aged over 85 is expected to almost triple, with an additional 770,000 bringing the number up to 1.2 million by 2040.

Categories: Property Investment