Today, let's look at one of the key drivers of long-term property demand - population growth.
According to Australian Government population projections for 2025-2036, Melbourne, Perth and Brisbane are expected to experience some of the strongest population growth, while Adelaide and Hobart are projected to grow more slowly.
Here's how Australia's capital cities are expected to perform over the next decade, ranked by projected percentage growth:
#1 - Perth, WA - 19.6% growth (+480,000 people)
Driven by overseas and domestic migration, supported by employment opportunities, particularly in the resources sector.
#2 - Melbourne, VIC - 18.8% growth (+1,022,000 people)
The largest projected increase in absolute numbers, driven primarily by overseas migration.
#3 - Brisbane, QLD - 17.9% growth (+507,000 people)
Benefiting from both overseas and domestic migration, supported by lifestyle appeal and employment opportunities.
#4 - Canberra, ACT - 15.7% growth (+76,000 people)
Supported by overseas migration and natural population growth, with government employment and education among its attractions.
#5 - Darwin, NT - 15.1% growth (+24,000 people)
Overseas migration and natural increase support growth, although domestic migration outflows remain a challenge.
#6 - Sydney, NSW - 14.5% growth (+819,000 people)
Strong overseas migration continues to drive growth, despite significant domestic migration outflows.
#7 - Adelaide, SA - 9.5% growth (+141,000 people)
Growth supported primarily by overseas migration, partially offset by domestic migration outflows.
#8 - Hobart, TAS - 4.3% growth (+11,000 people)
Modest overseas migration, with domestic migration outflows offsetting much of the growth.
What does this mean for property investors?
Melbourne, Perth and Brisbane stand out as particularly interesting markets, with strong projected population growth potentially supporting housing demand over the next decade.
Of course, population growth alone doesn't guarantee property price growth. Smart investors also consider property affordability, rental yields, vacancy rates and housing supply before making investment decisions.
Want to uncover investment opportunities in these growing markets?
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Sources: Australian Government Centre for Population projections (2025-2036) and ABS population and migration data. Migration drivers reflect recent trends rather than guaranteed future outcomes.
