"Melbourne property prices expected to rise by 19% over the next 3 years"

BIS Shrapnel 2009

Population Growth:

Projections for Melbourne

Melbourne is experiencing record population growth. It grew by 273,000 between the 2001 and 2006 censuses.

Overseas migration is the main contributor to Melbourne’s growth, with almost a quarter of migrants coming to Australia settling in Melbourne. 

Melbourne’s share of Victoria’s population has been increasing reflecting a worldwide trend to urbanisation.

Melbourne is projected to grow from 3.744 million in 2006 to 5.525 million in 2036, an increase of 1.781 million.

The number of Melbourne households is projected to increase by 51 per cent between 2006 and 2036, compared with a 41 per cent increase in population.

The Next Twenty Years

To accommodate this increase, 600,000 extra households will be required in Melbourne over the next 20 years.

Between 2001 and 2006, the City of Melbourne was Australia’s third fastest growing local government area, reversing a trend of losing population during most of the twentieth century. It is projected that the inner city revival of Melbourne will continue, with a projected increase of 120,000 in the City of Melbourne.

In recent years, the population of most established suburbs has increased and this is projected to continue.