Heavy competition and unremitting population growth is serving to create a bubble in the New South Wales residential property market, with prices rising to levels never before seen. Indeed, it seems that the strong market economy and the growing population will only continue to increase. Sydney and its surrounding regions have in particular become prime destinations for migrants and citizens from interstate. The large infrastructure and urban renewal projects can be seen to evidence the population growth taking place in this area, along with the conversion of former industrial based suburbs into prime residential and retail zones. Further, these areas are now demanding the highest prices for high and medium density living. Statistics comparing Sydney’s population from 2012 to now demonstrate the record growth of recent years. It therefore seems clear that a solid understand and insight into the future growth of these regions as well as future government plans for them will be essential to determining in which location you ought to be purchasing your residential property.
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