Why Population patterns ideas, for home renovating.
March 29, 2010 by Tim
Filed under property market, Renovating
The papers, today 29/03/2010 are noting the population pressures on the home market. Given population growth of 435,000 about double that of only two years ago: there is pressure on the rental and home markets. Quite simply there aren t enough being built, current home commencements are around 140,000. When at least 180,000 are needed. Clearly, the prices of second hand homes are rocketing. The Queensland Premier is bleating on about being poorly informed. Anna Bligh seems to think Federal government should be releasing more information. WA and Qld are the fastest growing states and have been for many years. Auction clearance rates are up both in volume and percent terms. Many properties making over the expected valuation in Melbourne.
Where is the immigration pressure coming from? Latest figures reveal they are from India, China, Indonesia, Malaysia, and New Zealand. I claim only six major countries have a big immigration policy: USA, Canada, Germany, UK, Australia and New Zealand. Currently, Canada is cold, NZ is a slower growing, small economy, UK has restrictions on Indians and Pakistanis, USA is a slow economy, Germany has their own prejudices. Given, Australia is one of the faster growing developed countries Australia has particular appeal, noting the above comments.
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