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Creation Date: Thu, 16 Jul 2009 GMT

Sydney’s population to swell 23% in next 20 years

The Residential Development Council, in conjunction with Matusik Property Insights, today released its Australia on the Move report which projects Australia’s population growth between now and 2027 – with research revealing Sydney’s population is expected to explode by 23 per cent.

Sydney’s current estimated resident population is 4,440,870 people, which is anticipated to increase by 1,043,335 people to 5,484,205 people by 2027.

The New South Wales population – currently estimated at 7,041,760 – is expected to grow by 1,428,945 people by 2027 – an increase of 20 per cent.

The report, launched today in Melbourne by the Federal Minister for Housing, the Hon Tanya Plibersek MP, reinforces the urgency of developing housing stock to accommodate Australia’s expanding population.

“The Australian population experienced its biggest increase on record last year, and at the current trajectory, Australia will need to accommodate the housing needs of 27 per cent more people for the next 20 years,” said Residential Development Council’s executive director Caryn Kakas.

“Australia’s population is anticipated to increase by just under six million people within 20 years, bringing the total number of permanent residents to 28 million people.

“To meet the annual demands on housing, the market will need to provide at least 155,000 houses per annum over the next 20 years. This does not include the housing starts needed to help Australia recover from its current state of a chronically undersupplied housing market.”

Ms Kakas said anticipating population growth provides governments at all levels the opportunity to forward plan for sustainable growth.

“This includes both continued investment in infrastructure as well as reviewing planning policies to ensure a balanced approach to housing to underpin affordable housing choices for the next generation of Australians,” Ms Kakas said.