It has been a very good week for homeowners and investors. The Reserve Bank announced it will leave the official cash rate steady at 6.25 per cent, as widely expected; figures show that building approvals increased by 8.1 per cent in April 2007, and population growth augurs well for a continuing demand for housing.
Australia's population is set to reach 21 million by the end of this month, as figures released this week by the Australian Bureau of Statistics show that the number of births registered last year - 265,900 - was the second highest on record.
This number, which was up by 0.3 per cent on 2005, was only surpassed by the 276,400 births registered in 1971.
In 2006 there was also the highest ever recorded number of registered deaths (133,900 deaths, up 2.1 per cent on 2005).
There were 132,100 more births than deaths for the year ended 31 December 2006, which contributed to growth in Australia's population. Migration also increased Australia's population with preliminary net overseas migration figures accounting for an additional 147,700 people in the year ended 31 December 2006.
Australia's population reached 20,852,000 at 31 December 2006 (up 1.4 per cent or 293,100 people since 31 December 2005).
The Australian Statistician, Brian Pink, said that using assumptions based on recent population trends and information from today's official population estimates, the ABS website Population Clock was expected to reach 21,000,000 on 29 June 2007.
