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2. Our Growing and Changing Population
There are a number of key demographic changes that are expected in coming years and to which our planning for housing into the future must consider. These include1:
Increasing population
The MidCoast population is projected by Council to grow by more than 20,000 people over the next 20 years, a consistent growth rate of around 1% per annum. Being able to accommodate this growth is a key consideration of this Strategy over the longer-term.
Increasing demand for dwellings
The increasing population is not the only driver of housing demand. Other factors such as the trend towards a smaller number of people within each dwelling and increasing vacancy rates resulting from tourism use (including holiday homes), means that there will be increased demand for additional dwellings.
1 Based on forecast.id.com.au/midcoast/ and quickstats.censusdata.abs.gov.au - 2016 year
Above average and increasingly aging population
The area has a greater than average median age - an older population than almost any other Council area in Australia. The number of people over 55 is set to increase by 30% over coming years.
With high levels of retirement, low employment and education attainment, income levels are significantly lower than other regions. This means that the affordability and diversity of housing are particularly important in the MidCoast area.
