The latest release from the Australian Bureau of Statistics (ABS) has highlighted the growing population being seen across the nation, which could illustrate the need for more Belconnen real estate in the near future.
The population of Australia grew by just over 100,000 people during the September quarter alone, reaching 23.24 million nationwide with no sign of slowing down. In fact, this result brings the annual growth of the nation up by a strong 1.8 per cent.
Housing Industry Association Economist Geordan Murray said that overseas migration was responsible for 241,018 new people during the 12 months leading to September 2013, while the natural rises in population (births minus deaths) resulted in another 164,428 for the same period.
"We have a situation where the importance of migration in securing the nation's future economic prosperity is widely, and appropriately, acknowledged.," said Mr Murray in a March 27 statement.
"It is vital that the implications of stronger population growth for housing demand are reflected in a clear and strategic focus on housing supply policy from all levels of government."
Now could be the perfect time to consider purchasing houses for rent in Belconnen, ahead of the impending population boom expected to affect the country over the coming years.