Tuesday, 16th February 2016
As Australia's population hits 24 million a record 17 years ahead of prediction, it's little wonder the need for investment properties continue.
Reported in The Age last week, the article cements my beliefs that wealth creation via real estate is a solid financial strategy and retirement savings tool.
Our population is always growing - whether it be through an increased fertility rate, migration or the simple fact that people are living longer - which means a consistent need for shelter.
Historically, we had very different living trends. Back in the 1930s and 40s, there was an average of 3.5 kids living at home with their parents. An increased divorce rate means that same family now is spread between two separate (but similar sized) dwellings, with one or two children.
Today's lifestyle trends play a big part, especially as we cycle through our housing needs from downsizing to retirement villages, upsizing, melded families, changing households - the stages we go through as we move into different homes throughout life.
There's also demand from overseas students, flocking to Australia to use its highly regarded and extensive education system. Usually requiring a mix of houses and apartments, this sector of the market grows annually as our reputation for quality learning outcomes grows.
We're also a nation that really understands throughout all these changes that property investment is essential based on our lack of a pension. The country's continued growth is a further illustration of this.
Until next time,
PS See the original article here.