How to Get Rich from Western Australia’s Booming Population
Western Australia’s booming population – A trend that will continue for decades to come, data suggests.
ABS projections say Western Australia’s population will increase from 2.2 million today to around 4.5 million in the next 40 years.
This is creating an environment where demand for new housing is outstripping supply by massive levels, creating a huge opportunity for investors to generate new homes and units – in other words, Property Developers in Perth and Western Australia stand to get rich thanks to the booming population.
The Facts About Western Australia’s Booming Population
Australian’s flock to Western Australia:
The state has recorded a net increase in population from migrants from the rest of Australia for many years, that is a rate of 5,186 more arrivals than departures on average since 2003. That’s increased to over 8,000 net positive arrivals from other Australian states in the past four years.
Overseas immigrants flock to Western Australia:
21.7% of Australia’s total intake of new residents from overseas decided to settle in Western Australia, despite the state having just 11% of the total Australian population.
- Net migration to Western Australia from other states: Annual average 2003-04 to 2012-13: +5 186 (via ABS)
- Net immigration to Western Australia from the rest of the world, 2012-2013: +85,000 (via ABS)
The Western Australian Baby Boom:
Western Australian’s are making more babies.
34,000 babies were born in Western Australia in 2012, that’s up 43% from ten years ago. (via ABS)
Western Australian’s are living longer:
In 2002, males were expected to live to 77. Ten years later, men in Western Australia were living to an average age of 80. Ten years ago, females were living to 83, that’s increased to 85. Total deaths increased just 0.9% per year from ten-years ago, despite the ageing and booming population. (via ABS)
Where is everybody going to live???
Western Australia’s Housing Crisis : More People Than Homes To Live in
EXPONENTIAL: Western Australia is going to suffer a shortfall of nearly 120,000 homes by the end of this decade. We’re simply not building enough to keep up with population demands. The below chart says it all (just look at the black line):
The most critical areas in need of more units and houses:
Joondalup (6272), Rockingham (4524), Melville (4377) Swan (4374).
Put simply, those who take the opportunity now to develop property in Perth and Western Australia are going to make a bucket load.
Taking the opportunity to buy and build on land, either old properties that are knocked down to make way for units, house-behind-house – or new land made available across Western Australia, is going to be a hot investment indeed.
With all the data suggesting our population will continue to grow at pace, and the shortfall in new homes and units, investors are set for a big and ongoing pay day. Passive income, capital growth, tax breaks and equity to create new investments.
The fact is: Land values, house values and rental values are all going to move higher in the medium to longer term.
So, with this in mind – How can you capitalise ?
A company like Ventura iD – Dedicated to building high-quality, low cost and efficient property development builds – is exactly where WA residential property investors, and ‘mum and dad’s’ are turning to build significant wealth from property.
In fact, in just 6 years, Ventura iD has moved from an upstart residential property development company to the 6th biggest builder in Western Australia, outright. A lot of people are already making a lot of money from property development. It’s a story not told by the mainstream media.