Long term and sustained population growth in
Parramatta City has been a driver for development and urban renewal in the Western Sydney area.
The Parramatta City population and household forecasts show that its population is forecast to grow from 184,013 people in 2014 to 236,864 people by 2036.
This forecast growth assumes the number of dwellings in Parramatta City will increase by an average of 1,059 dwellings per annum to 90,766 in 2036, according to .id’s forecasters.
Aras Labutis, Director of Sydney-based urban planning and development advisory firm,
Mecone, believes that the urban development growth in Parramatta City is a result of two key drivers, population growth and improved affluence.
As Parramatta City grows, it will serve as the core business district for the Western Sydney area.
“No longer will residents need to travel further into the Sydney CBD to access jobs and services that are normally found in a core business district. Parramatta as the CBD for Western Sydney will undertake this role. In our view this is the major factor that will drive growth and guarantee the success of Parramatta into the future," said Mr Labutis.
The addition of dwellings to the housing stock is a major driver of population growth in an area, providing opportunities for households to relocate from other areas or new households to form locally.
.id's forecasters have found that the age group with the highest net migration in the Parramatta City is 20-24 year olds; this is forecast to occur in the period between 2021 to 2026.
Once you have established the amount of development activity in an area, the next step is to make assumptions about who will move into the area as well as who is leaving the area.
The most mobile age groups in the population are young adults. They tend to move to attend educational institutions, seek work and express a change in lifestyle.
Market research has shown that empty nesters are more likely to move to smaller accommodation when appropriate and affordable alternative housing is supplied in the local area that is accessible to established social networks.