'Astonishing' population surge to push property prices even higher
A surprise fall in unemployment could put pressure on interest rates but property prices and rents look set to continue rising as the country's population surges.
Australia's population growth is putting unprecedented pressure on the country's housing market. (Image source: Shutterstock.com)
Australia now has more people and workers than ever before, and the implications for property prices and interest rates are potentially profound.
Employment and population data released on Thursday (21 March) by the Australian Bureau of Statistics (ABS) has shown that Australia’s population continues to swell rapidly, hitting 26.8 million, while the unemployment rate has taken a shock dip to 3.7 per cent.
With 2.5 per cent more people in the co…
