Australian Market – overall market articles and news
Annual population growth across Australia is expected to increase and as a result, the need to build more new homes has risen too.
On average the need for new dwellings over the past five years was around 147,000 per annum. Over the next half decade this underlying demand is likely to reach 227,000 each year. This is an 80,000 increase or a 54% boost.
The 227,000 annual demand is the equivalent of building a Canberra or Newcastle each year. And the 80,000 increase from the previous annual five year average is like building another Hobart every year.
In addition, the need for new housing builds during 2022/23 is 273,750 or about equal to building another Gold Coast! These are big numbers.
Which cities delivered highest property price growth over 20 years?
There were plenty of surprises in the list of capital cities' property price growth over the past two decades, with Sydney, Melbourne and Brisbane lagging behind some of their smaller national counterparts.
As the end of the financial year draws near, API Magazine sought the exclusive views of one of Australia’s most prominent real estate figures to gauge what forces will shape the property market over the next 12 months.