NSW Sydney's population has reached five million

Could be a thought provoking read:
Sydney's population tops 5 million as fastest growing suburbs revealed

 

5 million was reached mid last year

 

The interactive map is quite interesting which firmly confirms the potential of Western Sydney and surrounding areas.

Year after year people have posted that Sydney is going to cool off etc etc and I have said Sydney only can go up. Still plenty of potential, very diversified economy, perhaps the best climate in the entire country, why wouldnt be the destination for many people?

 

If you prefer pictures, the Greater Sydney population has increased by 749,197 in 10 years.



Sydney has nothing on Melbourne, though - explosive population growth of 107,770 (!) in Melbourne in FY2016, in part thanks to interstate migration.



Over the last 10 years the Greater Melbourne population increased by 880,876 to 4.64 million.

 

Yeah, wow! So the question is not 'why has Sydney boomed', the question is 'why has Melbourne not boomed more?'

I wonder if the Melbourne median house price will overtake Sydney?

 

population growth is only a factor in dwelling prices, of course - for one thing Melbourne has expanded the relative size of its dwelling stock faster than Sydney over the last decade

 

Unlike Melbourne, the area of Sydney metropolitan has a limit as its expansion is very much constrained by the surrounding national parks and mountains.

 

Excuse me whilst I don't celebrate this

 

It should have cooled in 2015...but the RBA reduced rates....watch for what the major banks do in the next 2-3 months....that should take the sails out...

 

I would say watch what China does in the next few months.

 

True...but mostly felt in Sydney and Melbourne......

 

Yes that's good..but includes blue mountains etc...if the geographical reach for these measurements reach that far then wouldn't they add Geelong to Melbourne and gc plus Sc to Brisbane. If so, the 5 Mil really doesn't seem that great of an achievement then.

 

Except you have been saying that for a few years now The prophecy will come true in the next 2 to 3 months?

 

I know this is a property investment forum, but at what point does quality of life become a driver in choosing where to live and do business. Are cities like Adelaide not interested in attracting people to live there with cheaper housing and commercial real estate.

 

You need to read my posts...I said the bottom was 2019

It take a while from peak to near bottom...read the Druie thread....