If we believe Australia’s population is going to
keep growing, and it will with a business plan to have close to 40 million
people in Australia by the middle of the century, and that our nation is going
to remain wealthy, this will then underpin long-term property values.
There is a positive relationship between household
income ("real income” after inflation) and housing demand.
But moving forward, population growth will be not
distributed evenly around Australia, and while our overall wealth will grow,
it’s likely that the rich will keep getting richer, meeting the main drivers
for house price growth will not be distributed evenly.
In other words, to maximise your investment returns
it will be important to buy properties in our major capital cities where the
majority population growth will occur, and then in those areas of the city
where wages and wealth will grow faster than average.
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Thursday, 14 September 2023