Rising national population highlights avenue for investment portfolio expansion
Property investment opportunities across the Surfers Paradise property market could be the next thing on your financial horizon, especially following the good news coming out of the Housing Industry Association (HIA). If you've been interested in beginning or expanding your property portfolio, the current market could provide the perfect launch pad for wealth generation in the near future.
According to the Australian Bureau of Statistics, recently released population figures show the nation rose to 23.32 million people at the end of 2013, with an additional 396,000 already added during 2014. HIA economist Geordan Murray said this was equivalent to a growth rate of 1.7 per cent over the year – well above the established long term average.
During 2013, the country's natural population growth rate – births minus deaths – saw 160,357 people added to Australia's population clock. While this was slightly lower than the previous year, it was still a high result in the overarching scheme of population growth.
However, net overseas migration saw 235,797 people join the country over the duration of 2013. These figures are expected to continue growing throughout 2014, highlighting the necessity of more accommodation being made available for newcomers to the nation.
Stocking up your property portfolio and establishing yourself within the Sunshine State's real estate market is a great way to begin generating wealth for you and your family in the near future.