Owners of real estate in Bunbury will be pleased to know that demand for real estate will continue to grow as the number of people flocking into the state continues to rise.
The latest statistics from the Australia Bureau of Statistics show the population of Western Australia increasing drastically. The data from the 2013 September Quarter saw the population increase by 76,000 people – a rise of 3.1 per cent from the previous year.
This rate of increase outstripped Australia's largest populace state, New South Wales, which only saw a 1.5 per cent increase over the same period.
As more numbers of people shift into the area, demand for real estate in the Bunbury area will increase. This great news for owners of Bunbury rentals.
Those looking to buy residential property in the area should also benefit as a growth in population may see an increase in the number of homes being constructed in the region.
"It is vital that the implications of stronger population growth for housing demand are reflected in a clear and strategic focus on housing supply policy from all levels of government," said Geordan Murray, Housing Industry Association economist in a March 27 statement.
As Western Australia continues to be a desirable place to live the population should continue to grow and with it the number of homes on the market.