Key Drivers That Will Determine Future Property Prices
A bit of a different look at the property market this week with a focus on one of the key drivers that will determine property prices over the medium to long term - Population growth.
One of Australia's leading demographers, Bernard Salt, recently presented his latest population forecasts for the 10 to 20 years to a group of the Commonwealth bank's top private clients.
His research has been completed following on from recent government immigration policy changes designed to increase the flow of immigration to our country.
These latest findings demonstrate the incredible under supply of built homes in our country and why the need to build new homes is at a critical juncture.
On the local front, the report identifies the Gold Coast as the leading area in the country on a percentage basis for growth with our population expected to rise by more than 37% between now and 2040.
This predicted upswing will add an additional 271,000 residents to the Gold Coast region over the next 17 years.
With current listing volumes on the Gold Coast at historically low levels and buyer demand increasing, Gold Coast sellers are currently achieving outstanding results and prices are again slowly rising.
Based on this most recent research, the Gold Coast is extremely well positioned to ride out any downturn in prices, especially why stock levels remain so low.
Please see below the link to a video summary of Bernard Salt's research as well as a table showing which areas across the country are likely to see the highest rates of growth.