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Hear the latest weekly insights into the property market via podcast by Rich Harvey, CEO and founder of Propertybuyer.

 
Fri 3 May '24 with Rich Harvey Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24 with Rich Harvey How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24 with Rich Harvey Why Invest in Melbourne?
 
 
Mon 26 Feb '24 with Rich Harvey Sydney’s Inner West – Hotspots and Outlook for 2024
 
 
Mon 12 Feb '24 with Rich Harvey Decoding Sydney’s North Shore Market – Outlook and Opportunities.
 
 
Sat 27 Jan '24 with Rich Harvey Home Buying in the Eastern Suburbs – A personal journey
 

 

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NSW sees big gains in population growth

June 24, 2014 / Written by Rich Harvey

 

By Rich Harvey, CEO, propertybuyer.com.au

Considering property investment in Sydney? According to the Australian Bureau of Statistics (ABS), you won't be the only one looking for housing in the region.

The ABS recently reported that New South Wales experienced an influx of more than 110,000 people over the year ending December 31 2013.

"This is New South Wales' highest annual population increase since June 2009 and the highest growth rate since September 2009 when Australia experienced record growth from net overseas migration," said Phil Browning, acting director of demography at the ABS.

"Net overseas migration was the main contributor to New South Wales' population growth, adding 71,400 people over the year, which is the highest increase for the state since September 2009."

NSW was the clear leader when it came to overseas migration. Even while NSW saw such growth, Australia as a whole recorded an annual decrease of 2 per cent.

The population growth in NSW helped to push the country up as a whole.

"The figures show Australia's population reached 23.32 million by the end of 2013, having added around 396,000 people in the year during 2014. This is equivalent to a growth rate of 1.7 per cent over the year, which is down from 1.8 per cent a year ago but still well above the long term average," said Housing Industry Economist Geordan Murray.

So what does this mean for home buyers in the Harbour City?

It will certainly mean stronger competition, but this frustration could be offset by further price growth due to high demand.

If you're looking to buy investment property in Sydney, there's no doubt that more home seekers will mean a greater pool of potential tenants to choose from, as well as the chance to charge higher rents.

The Propertybuyer
Podcast

 
Fri 3 May '24
with Rich Harvey
Unpacking the Northern Beaches with Incredible Agents
 
 
Fri 29 Mar '24
with Rich Harvey
How to build a $7 Million Property Portfolio from scratch
 
 
Sat 16 Mar '24
with Rich Harvey
Why Invest in Melbourne?
 
 
Mon 26 Feb '24
with Rich Harvey
Sydney’s Inner West – Hotspots and Outlook for 2024
 
 
Mon 12 Feb '24
with Rich Harvey
Decoding Sydney’s North Shore Market – Outlook and Opportunities.
 
 
Sat 27 Jan '24
with Rich Harvey
Home Buying in the Eastern Suburbs – A personal journey
 

 

Listen to many more
podcasts on our
Podcasts page.