Population growth figures to increase housing demand
The December 2011 quarter revealed the strongest surge in population growth since 2010, indicating ...
The December 2011 quarter revealed the strongest surge in population growth since 2010, indicating that housing demand is likely to rise across the country, according to the latest Australian Bureau of Statistics (ABS).
ABS data showed that in the December quarter, the Australian population rose by 302,565 - a growth rate of 1.36 per cent - the highest since a 1.44 per cent surge in March 2010.
With population growth comes a possible increase in demand for residential property - both to purchase and lease. A surge in housing demand will be welcomed by those with stakes in property investment or for those looking at selling a house.
However, not all states have shown strong population growth, with Tasmania lagging at 0.4 per cent behind the nation's resource-rich state of Western Australia which took the lead with 2.9 per cent.
The Australian Capital Territory followed in second place with a 1.8 per cent growth rate and Queensland trailed with 1.5 per cent.
New South Wales and Victoria both recorded health growth rates of one per cent and 1.4 per cent respectively.
Both the Northern Territory and South Australia presented small growth figures of 0.8 per cent and 0.7 per cent.