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Victoria benefits from interstate migration

By Matt Hurlston

There’s every chance that more buyers could have their sights set on real estate in Bentleigh, as the latest demographic data points to a rise in people moving to Victoria.

According to the Australian Bureau of Statistics (ABS), Victoria is currently the fastest-growing state, as its population increased 1.7 per cent during the year to September 2015. The national average was just 1.3 per cent.

“Victoria gained 11,200 people from interstate migration which is up from 8,500 people in the previous year and Queensland gained 6,900 people, which is up from 5,900 people in the previous year,” revealed ABS director of demography Beidar Cho.

Where are people coming from?

Net overseas migration (NOM) is another major contributor to a rise in population growth. The ABS revealed that Victoria is the destination of choice for a third of people relocating from overseas, ranking in second place to New South Wales with 40 per cent.

Natural increase – the number of births minus the number of deaths in Australia – was responsible for 46.5 per cent of population growth over the 12-month period. The remainder was a result of NOM.

The Australian population stood at 23.9million at the end of September last year – a figure that analysts believe will only continue to grow. People are recognising that Victoria offers great facilities and transport links, which could explain why it’s become such a popular destination.

How can I secure real estate in Bentleigh?

With competition for top quality properties growing, it makes sense to enlist the help of a real estate agent. Matt Hurlston and the team at Ray White Carnegie have all the expertise you will need to find a home that suits your needs, no matter what they might be.

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