Young, female and living in the city: the face of Australia in 2024
As planners consider the future of our cities and regional centres, clear patterns are emerging of where people of all ages and sexes choose to live
2 min
Our cities are home to more women than men and there are more younger people choosing the capitals over regional areas, new data from the Australian Bureau of Statistics has shown.
The Regional Population by Age and Sex Report revealed Darwin was the capital with the lowest median age at 34.6 years, as well as being the only capital with a higher proportion of males to females.
Once known as the city of churches, Adelaide had the oldest population by median age at 39.2 years. The breakdown by town or suburb is even more revealing, with Acton and Duntroon in the ACT recording the lowest median age at 20.8 years and 21.8 years respectively. One area is popular with university students while the other is home to a high number of military personnel.
At the other end of the scale, the retirement hotspots of Tea Gardens-Hawks Nest in NSW (66.2 years), Bribie Island (63.6 years) and Cooloola (62.4 years) in Queensland and Point Lonsdale-Queenscliff (62.2 years) in Victoria had the highest median ages in the country.
Higher median ages were also reflected in the male to female ratios, with women’s higher life expectancy resulting in more women relative to men in some areas. In the Sydney suburb of Woollahra, there were 80.9 males to every 100 females and in Mornington West in Melbourne, there were 82.4 males to every 100 females.
Areas with extremely high proportions of males to females were either mining communities (274.2 males per 100 females in East Pilbara), male correctional facilities (278.1 males per 100 females in Wacol near Brisbane) or military training centres (227.0 males per 100 females at Duntroon in the ACT).
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
Stubborn inflation and just-out-of-reach interest rate cuts are the likely reasons for the softer end to the year, new data has revealed
2 min
Australian capitals experienced their smallest rise in home values since January 2023, new data from CoreLogic has revealed.
The property data provider’s Home Value Index showed values rose by 0.1 percent over spring after 22 months of consecutive rises. CoreLogic predicted this could be close to the last rise in this cycle, with both the Sydney and Melbourne markets showing signs of cooling.
“The downturn is gathering momentum in Melbourne and Sydney,” said Tim Lawless, CoreLogic’s research director.“While the mid-sized capitals, which have dominated the growth cycle of late, are also losing steam.”
The trend was most obvious in Melbourne, with housing values recording drops in 10 of the past 12 months. Melbourne values fell by -1.0 percent in November, while Sydney experienced a fall of -0.5 percent. The report indicated that Sydney values had most likely peaked in August this year.
Some of the smaller capitals were also showing signs of a weakening in values, with Darwin down -0.7 percent and Canberra recording a drop of -0.3 percent.
“The mid-sized capitals and most of the regional ‘rest of state’ markets continue to provide some support for growth in the national index, but it is clear momentum is also leaving these markets,” added Mr Lawless.
However, it was a different story on the other side of the country, with Perth home values experiencing further growth. CoreLogic data showed values in the Western Australian capital up 1.1 percent over the month and 3.0 percent over the quarter. While the increases in values were the strongest amongst the capitals, CoreLogic noted that they were less than half that recorded in the June quarter, where they were at a robust 6.7 percent.
Mr Lawless pointed to a lack of movement in core inflation, as well as the diminishing likelihood of an interest rate cut early next year as factors in the subdued capital gains. Leading Australian economists are predicting a cut somewhere between February and May 2025.
“A lower cash rate will be a positive factor for housing markets,” Mr Lawless said. “Lower mortgage rates will provide a lift to borrowing capacity, and, along with lower inflation, should see an improvement in serviceability assessments and see a further rise in consumer sentiment.”
“A couple of rate cuts might be enough to shore up a declining trend in home values, but it is hard to see any material upward pressure returning until interest rates reduce more substantially and affordability barriers are less formidable.”
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
