The most recent ABS statistics on Australia’s population show a 1.7% increase over the year to September 2012, with a strong increase in net migration – up 228,000. This is good news for the urban apartment market.
As Urbis reported in
Australia’s Embrace of Medium & High Density Housing, an important component of the migrant intake is renting age students, who in turn fuel the apartment sector.
This upturn is confirmed in the following chart, that the number of 25-39 years has indeed begun to increase again after a very slow couple of years.
This increase in net migration is due to shifts in government policy, which is the tap that turns migration on and off.
It is encouraging that the government is supporting economic growth in this way, which will also benefit sectors such as retail and education, in addition to property.
This article first appeared in the Urbis Think Tank. Urbis is an interdisciplinary consulting firm offering services in planning, design, property, social planning, economics and research. Working with clients on integrated or standalone assignments, Urbis provides the social research, analysis and advice upon which major social, commercial and environmental decisions are made. With over 300 staff Urbis is uniquely positioned to handle projects from the simplest to the most complex.