The importance of maintaining strong infrastructure cannot be overstated, especially in a country where the population is expected to see significant growth over the coming years.
Being able to provide for residents is crucial for further residential expansion, which is why the new Australian Infrastructure Audit released by Infrastructure Australia could be interesting for buyers looking into future investment real estate in Bentleigh.
Property Council of Australia's chief executive Ken Morrison said the projected population figure of 30.5 million nationwide by 2031 meant the report's calls for smarter, more streamlined planning process to accommodate for this growth was an important warning to heed.
"Population growth is a reality for Australia but our approach to planning and infrastructure too often ignore this fact. Infrastructure Australia says the price-tag of inaction is $53 billion in congestion costs by 2031. It's a cost the country can't afford," said Mr Morrison in a 22 May statement.
As the number of people moving to Australia continues to grow, the need for more residential accommodation nationwide is a rising concern.
If you're interested in purchasing real estate in Bentleigh, get in touch with Matt Hurlston at Ray White Carnegie. His insight could be useful for finding suitable investment avenues in the local community in the coming months.