What are the pros and cons of investing in a commercial property?
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A report released by the government this week revealed which capital city has experienced the most population growth over the last decade.
Melbourne’s population grew the most in absolute terms over the last decade, increasing by approximately 750,000 people – equivalent to 200 people per day according to the State of Australian Cities 2014-2015 report.
Australia’s largest city, Sydney, also grew by a significant 600,000 people over the last decade.
The two fastest-growing inner-city areas between 2012 and 2013 were both located in Melbourne, with Melbourne and Southbank growing by 5,400 and 2,100 people respectively.
Waterloo in Sydney were close behind growing by 1,700 and 1,100 respectively.city and
During the same period Melbourne also topped the list of fringe suburbs with the highest population growth.
Over 75 per cent of Australia’s 23.6 million people live in the country’s 20 largest cities, with 60 per cent living in the five largest cities of Sydney, Melbourne, Brisbane, Perth and Adelaide.
The ABS projection estimates that Australia will grow to just over 30 million people by 2031, and the current trend of the most growth occurring in and around Australia’s capital cities will continue.