Also, Overall, Australia's population grew by 326,100 people in 2015. Net overseas migration contributed 177,100.
Numbers just don't add up do they?
Say we grow by 700,000 people Australia wide in 15/16 one in every 3.3 people need to fork out $400K and Buy a SYD/Melb apartment to mop up the supply.
At 2 occupants per dwelling (average is 2.6 but fair to say units would be closer to 2). That's 1 in 1.75 couples.
That's before you take Brisbane, and what excess supply may be there already.
Yes you could argue you can't directly attribute population growth to how many people are looking to purchase a home, but population growth is so often attributed to sustaining the rise in house prices so I thought it might be worthwhile putting things in perspective.
Given that 60% are owned by investors, how long will it be before they see negative returns and decide to flip them?
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