Should there be a limit on the number of people who live in Australia? As the country’s population grows, there are certain benefits and disadvantages for the economy and several industries.
Housing construction, for instance, will need to be ramped up due to an implied increase in demand for residential properties. For home builders, this means a greater need for Timberfix construction supplies from metal bars to stainless steel screws.
Pros and Cons
Australia’s population nears the 25 million mark, partly because of people immigrating into the country. Environmental advocates believe that it would be detrimental to natural resources. For instance, more land will have to be rezoned for housing. Food production will also need to increase to sustain a bigger appetite.
On the other hand, lawmakers said that a larger population would be good for economic growth since more workers will be necessary to support industrial growth. Socio-economic experts like University of South Australia Associate Professor James Ward said there could be a balance. It’s possible to sustain a bigger population only if there is a controlled consumption of natural resources.
Despite the supposed strain on resources, home builders are among those who will likely benefit from more residents. In June, the number of permits increased for apartments and single-family homes. The approvals included around 8,900 new apartments and 10,100 new standalone houses.
Queensland, Tasmania and Western Australia recorded the biggest increase in permits, while the overall residential sector countered a decline in the commercial property market during the month. Aside from a growing population, the prevailing low-interest rates for loans drive the need for housing construction.
Population growth may be an inevitable change. Whether or not immigration policies become stricter, it’s clear that more people will still need homes either for personal use or as an investment.