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Watch out for a bigger Sydney projected – at the expense of regions - featured image

By Pete Wargent December 21, 2019

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Watch out for a bigger Sydney projected – at the expense of regions

Property Investment
Watch out for a bigger Sydney projected – at the expense of regions

Is this what you call Capital Punishment?

The NSW Department of Planning has revised up its population projections, though not for everywhere, with Sydney attracting a greater headcount at the expense of the state's regions.

The population of the harbour city is now expected to rise to beyond 7.1 million by 2041, which is notably and considerably higher than was previously expected, as the ongoing high rates of immigration lead in turn to greater natural growth (births minus deaths), and as life expectancy increases.

This thunderous growth would represent an extra 2 million heads in Sydney over a 22-year stretch.

The implied dwelling projections for Sydney out to 2041 are now enough to make the head spin.

On the other hand, the population projections for regional New South Wales have been revised down a little.

Although we might expect to live longer, regional NSW is expected to lose 185,000 folks interstate over the 25 years to 2041, largely offsetting the 275,000 projected to sprawl out of Greater Sydney.

And, with relatively low immigration from overseas, regional population growth is projected to flatten out over the next two decades (reflecting fairly similar trends in Victoria...ex-Geelong).

About Pete Wargent Pete is a Chartered Accountant, Chartered Secretary and has a Financial Planning Diploma. Using a long term approach to building businesses, investing in equities, & owning a portfolio he achieved financial independence at the age of 33. Visit his blog

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Watch out for a bigger Sydney projected – at the expense of regions

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