The population of Australia is growing, according to the Australian Bureau of Statistics (ABS). 2008 figures released by the bureau show that the country grew by the fastest rate on record and looks to grow by another 1.6 million people in the next five years.
The largest growth came in the major cities of Melbourne and Sydney, which had 75,000 and 55,000 more residents, respectively. Additionally, Queensland had six of the top ten fastest growing municipalities in the country. Brisbane led the growth in the state, followed by Gold Coast and then Sunshine Coast.
The growing population of Australia, and in particular in the major cities, is a good indicator of housing needs in the coming years. These locations will see a strong need for new housing at all levels, and it is an opportune time to invest in property down under.
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