Population growth has stalled, which could dent future housing demand.
New figures from the Australian Bureau of Statistics show Australia’s population increased by just over 396,000 new residents over the 2013 calendar year, down 9,300 from the annual period ending June 2013.
RP Data research director Tim Lawless said population growth statistics serve as an important indicator of housing demand.
Lawless said population growth has been winding down since mid-last year, though at 1.7% per annum, it remains well above average.
On a state-by-state basis, NSW has seen the largest increase, followed by Victoria, Queensland and Western Australia.
Both NSW and Victoria also saw a healthy upward trend in overseas migration, but WA and Queensland are seeing dwindling numbers of overseas migrants. Lawless put the decrease down to the slowdown of the resources sector.
Overall, Lawless predicted a slowdown in population growth could impact future housing demand.
“With population growth winding down we can expect some further easing of housing demand, both from a sales and a rental perspective," sais Lawless.
"The slowdown seems to be most pronounced in the mining states of WA and Qld where population growth conditions have previously been the strongest."
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out