If you’ve been following my blogs you’ll understand the importance of population growth on our property markets. So research showing that there is a 50 per cent chance Australia will have even more people that Kevin Rudd’s Big Australia population of 36 million by mid-century, is interesting news for property investor’s.
University of Queensland Centre for Population Research (QCPR) demographers have released a new generation population forecasting model around the same time that Population Minister Tony Burke unveiled the Governments new population strategy.
“Our modelling indicates there is a 95 per cent chance that by mid-century Australia’s population will be between 29 and 43 million,” QCPR spokesperson Dr Tom Wilson said.
The Intergenerational Report’s projection of 36 million, dubbed a “big Australia” by former prime minister Kevin Rudd, lies in the middle of this range.
“Our model tells us there is a 50 per cent chance that the nation’s population will be greater than 36 million by 2051, so we could have an `even bigger’ Australia,” Dr Wilson said.
The majority of this growth is going to occur in mainland capital cities, the director of QCPR, Professor Martin Bell, said.
Our burgeoning economy and the general wealth his will bring, plus the population growth we’re going to experience will underpin the growth of our property markets.
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