According to the ABS the Australian population grew at an rate of just 1.42% in the year to December. Craig James, the Chief Economist at CommSec says "Most people looking at the figures would say it was a bit of a surprise." While Saul Eslake, the former Chief Economist of BoA Merrill Lynch says this slowing population growth could trigger an oversupply of housing in the next four years “if the rate of population growth and hence the rate growth in underlying housing demand continues to slow ... I would guess that in less than four years we won't have a shortage of housing and in some cities, most obviously Melbourne and Perth, we might have an excess." AFR subscribers (VIEW LINK)
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