‘Strong correlation’ between population and home prices growth

PropTrack Senior Economist Paul Ryan says there has been a “really strong correlation” between population growth numbers and home price growth over the past year. Mr Ryan said Perth saw the “strongest population growth of 3.6 per cent". “We’ve seen Perth prices up 16 per cent over the past year,” Mr Ryan said. “Brisbane and Sydney both recorded really strong population growth numbers and have both hit really strong home price growth as well. “The real outlier has been Melbourne.” In partnership with REA.