Showing posts from June, 2014

What Australia’s growth means for property buyers

It's hard to deny that Australia is getting bigger by the day. According to data from the Australian Bureau of Statistics, Australia's population of 22.7 million people is expected to grow to 46 million by the year 2075. This is more than double its current size. Among other things, this will affect those who will be looking for a home loan in the future.

Home loans are not the only things that will be affected by this growth. One need only look at the recent state and federal budgets to see that the government is pumping money into infrastructure all around the country in order to keep up with an ever-rising population.

Budgets go large on infrastructure

The federal budget has allocated $50 billion to Australian infrastructure. This investment will help build an East-West link in Melbourne, a freight link in Perth and help fix up various obsolete roadways around the country.

It will also give $3.5 billion for the development of the quickly growing Western Sydney region.