13 Interesting property facts about Australia you should know

Here are some interesting property facts that you should know about Australia.

They’ll come in useful when the property pessimists get into your ear :

1. There are 10.3 million dwellings in Australia valued at a total of $6.5 trillion
2. The total outstanding mortgage debt on these houses is $1.79 trillion – meaning the overall Loan to Value Ratio for all Australian residential property is just over 17%. Now that’s not as bad as many people make out is it? Remember there are many properties in Australia with no mortgage debt against them at all.
3. Australia has doubled its population in the last 48 years. Currently the population is around 25.4 million, in 1970 it was 12.5million.
4. Australia’s population is likely to grow to 30 million people over the coming decade to 2030 and to 40 million people by 2048.
5. There are currently 9.6 million households in Australia, and the average household size is 2.6 people.
6. Australia is one of the fastest growing developed nations in the world, growing at 1.4% per annum and adding around 400,000 people year.
7. Australia’s population growth comes mainly from net overseas migration (61%) and then from net population increase (39%).
8. Today 29% of all Australians were born overseas, compare it only 18% of the population all overseas in 1966. Of the Australians born overseas the most common country of birth after England is now China.
9. 
   Australia’s population is aging. Within a decade will have more people aged over 65 then under 18 for the first time in history.
10. We are also more generationally diverse than ever. Despite our ageing population, currently there are more Australians born after 1980 then before it. This means Gen Y (born from 1980 to 1994), Gen Z (born from 1995 to 2009) and Gen Alpha (born after 2010) will comprise more than half Australia’s population.
11. Currently Gen Y and Gen Z comprise the majority of the workforce, outnumbering Gen X and the Baby Boomers for the first time.
12. Melbourne is Australia’s fastest growing city (2.4% per annum) – adding more than 125,000 people in the last year– that is the equivalent of adding a new Darwin or Ballarat or Bendigo annually.
13. Based on its current rate of growth, Melbourne’s population will reach 8 million in 2037. Sydney will take a little longer to reach 8 million – 2040

from Property UpdateProperty Update https://propertyupdate.com.au/13-interesting-property-facts-about-australia-you-should-know/