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NSW Booms On Back Of Strong Economy

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NSW is the most popular state in the country to live and work, with fewer people leaving than ever before according to updated population projection data released by the Planning Minister Rob Stokes today.

The State’s strong economy and lifestyle options as well as Sydney’s status as the nation’s only global city are driving NSW’s status as the best state in the country.

“NSW is the state of opportunity,” Mr Stokes said. “Sydney is the economic capital of the country – and over the next 20 years we’ll cement that position.”

The NSW Population Projections 2016 Update, show the NSW population growing from 7,218,528 million in 2011 to 9,925,550 million by 2036 – another 2.7 million residents.

These projections are 225,000 more people than forecast in 2014 projections.

Metropolitan Sydney will grow from 4,286,217 in 2011 to 6,421,850 in 2036 – another 2,135,633 residents. These Sydney projections show a 167,900 increase on the 2014 figures.

The increase on the 2014 figures reflect the strength of the booming NSW economy and the effect on encouraging interstate and overseas migration to NSW.

The modeling used has updated previous estimates that 664,000 additional homes are needed in Sydney between 2011 and 2031. The revised population data suggest 726,000 homes now will be required between 2016 and 2036.

NSW is leading the nation in housing approvals, with approvals exceeding 70,000 for the last nine consecutive 12 month periods.

Over the next 20 years Sydney will have almost 500,000 more people aged 65 years or more. This will lead to big increases in the number of lone person and couple only households.

At the same time there is likely to be over 1.5 million babies born between 2016 and 2036. This means family with children households will continue to make up half of all households in Sydney.

“Sydney’s prosperity is attracting young workers who are settling in Sydney and starting families,” Mr Stokes said.

“These people will need a job, somewhere to live and a convenient way to get between the two as well as plenty of shops, cafes, restaurants and parks to enjoy on the weekends.

“That’s why we’ve started planning for tomorrow today, with unprecedented investment in new public transport infrastructure.”

The NSW Government is taking an innovative approach to addressing Sydney’s housing needs, making it easier to build different types of homes like townhouses, terraces and dual occupancies.

These types of homes can increase housing supply while still providing greater variety and flexibility for the changing needs of our population.

More information, including statistics broken down by Local Government Area, can be found at www.planning.nsw.gov.au/projections

The Indian Telegraph Sydney Australia

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