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Population Boost Good News for Homeowners

By Jamil Allouche

Victoria's population boost from interstate and overseas migration – as well as natural births – has been praised by Premier Denis Napthine in a March 27 statement. 

Along with 41,300 births in the year to September 2013, the state's population increased thanks to an influx of overseas migrants (62,300 individuals) and interstate migrants (6,900).

A growing population will naturally put pressure on housing supply, potentially resulting in good outcomes for those looking to sell their property in Brunswick or Carlton. 

The total increase year-on-year to September 2013 was 110,500 people, highlighting a 2 per cent rise that brings Victoria's total population to 5.77 million people. 

Victoria's capital city has attracted attention recently with major American firms Eventbrite and Hightail electing to open Asia Pacific headquarters in Melbourne. 

With more people choosing to live in Victoria and businesses investing resources in the city, property owners are placed in a good position should they choose to sell. 

Victoria's 2 per cent growth rate soared ahead of the national average (1.8 per cent) and that of New South Wales (1.5 per cent), making the state and its capital one to watch in 2014.

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