Australia’s population increased by a record 659,800 in the year to September 2023, according to new data from the Australian Bureau of Statistics, putting more pressure on the country’s housing supply.
Population growth almost came to a complete stop during the pandemic, due to the closure of the international border. Since then, as migration has restarted, the population has grown strongly, reaching 26.8 million at the end of September 2023.
While annual population growth is expected to slow in coming years, the Centre for Population projects the population will reach 30.9 million a decade from now.
That is partly why the federal government is trying to facilitate the building of 1.2 million new homes in the five years from July 2024.
#property #population #homeloans
Population reaches 26.8 million
Australia’s population increased by a record 659,800 in the year to September 2023, according to new data from the Australian Bureau of Statistics, putting more pressure on the country’s housing supply.
Population growth almost came to a complete stop during the pandemic, due to the closure of the international border. Since then, as migration has restarted, the population has grown strongly, reaching 26.8 million at the end of September 2023.
While annual population growth is expected to slow in coming years, the Centre for Population projects the population will reach 30.9 million a decade from now.
That is partly why the federal government is trying to facilitate the building of 1.2 million new homes in the five years from July 2024.
#property #population #homeloans