From our corporate director

Dean O’Brien

Melbourne has been experiencing steady population growth over the past few decades, and this trend is expected to continue in the coming years..

Various factors contribute to Melbourne's population growth, including strong economic growth, employment opportunities, cultural diversity, and a high standard of living. Melbourne is also a popular destination for international students, with several leading universities located in the city.

The Victorian Government has projected that Melbourne's population will reach 8 million by 2050, with an average annual growth rate of around 2%. This growth is expected to be driven by both natural increase (births minus deaths) and net overseas migration.

The continued population growth is likely to have significant implications for Melbourne's housing market, with increased demand for housing and infrastructure. As a result, it is crucial for the government and the property industry to plan for and manage population growth sustainably to ensure that Melbourne remains an attractive and livable city for both current and future residents.

Melbourne has been a popular destination for international students for many years, with a range of leading universities and educational institutions located in the city. According to the Australian government's Department of Education, Skills and Employment, Melbourne was the second most popular city in Australia for international students in 2020, with over 187,000 international students enrolled across various courses and levels of study and as we return to these levels it will have a significant impact 2023

The return of international students is likely to have significant implications for Melbourne's economy, with the education sector being a significant contributor to the city's GDP. It will also have an impact on the city's housing market, as many international students require accommodation during their studies, and this can create demand for rental properties in certain areas of the city.

As we navigate through these times its important to make educated decisions when buying or selling your principal place of residency or investment property. Please seek out any professionals in this area. Here at O’Brien Real Estate “OurPurpose” is to “ facilitategrowth“ so please reach out if you have any questions

Best Regards,

Dean O'Brien Director