16 Feb 2016 By: Greg Hocking 0 Comment
Did you hear it tick over? At 12.51am on February 16 the nation’s population clock was expected to reach 24 million.
That puts the country on track to reach 25 million residents by 2018, latest data from the Australian Bureau of Statistics shows.
And if migration and demographic trends continue, Melbourne – home to 4.5 million – will become Australia’s most populous city within 40 years, Matt Wade reported in The Age.
That influx of new residents will need to live somewhere. That’s why today’s demand for housing will not ebb and investing in property really is as safe as houses.
This week’s Property Pulse report from national data provider CoreLogic RP Data also included fascinating reading.
It revealed Melbourne is the only Australian capital city to record house prices that doubled in value between January 2006 and January 2016. That’s right; our city’s median house price rose by 100.9% in the past decade.
Finally, the Garden State also leads the national auction clearance table for 2016.
Last week 77.6% of listed properties scheduled for auction sold including a massive 93.8% of all inner-east suburban properties.
Just goes to show the volume of pent-up buyer interest still existing in our market as 2016 warms up.
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