As an investor, looking into population trends is a great source of information when looking for up-and-coming regions to purchase property in. If you're interested in securing real estate in Belconnen, now could be a great time to begin looking into the housing options in the area, with a recent Housing Industry Association (HIA) release highlighting the degree of population growth experienced over the last 12 months.
At the end of the 2013/14 year, Australia's population was recorded at 23.49 million people after experiencing a growth of 365,000 people over the year. This works out to be a growth rate of 1.6 per cent over that period, with HIA Economist Geordan Murray stating that Australia's economy has been one of the global star performers over the last few years.
"With shortages of skilled labour evident in many industries and a relatively strong looking economy, Australia has proved to be a very attractive destination for overseas migrants and was equally attractive for Australians who would have otherwise considered opportunities overseas," said Mr Murray in a December 18 statement.
Now could be a brilliant time to consider looking into the local Belconnen real estate market to find a great property deal in the coming months.