Population Growth A Good Sign for Investors
Rentals in Surfers Paradise could be a great investment in the coming years, with Australian Bureau of Statistics (ABS) data highlighting a population rise on the horizon. As a result, there could be an increasing demand for accommodation in the future.
The nation's population rose to 23.13 million by mid-2013, adding 407,000 new people over the year ending June 2013.
This equates to an annual growth rate of 1.8 per cent, which is above the long term average and suggests that this type of growth is set to continue across Australia.
Much of this growth was from overseas migration, which increased by 8.6 per cent over 2012/13 and contributed 244,371 new residents into the country. Housing Industry Association (HIA) Economist Geordan Murray said this was set to continue into the future.
"The ABS population projections show net overseas migration is expected to make a stronger contribution to population growth in future years than it has in the past," said Mr Murray in a December 17 statement.
This could present a great opportunity to secure investment real estate in Surfers Paradise, in order to create a property portfolio and provide accommodation for new migrants in the future.